Life Insurance Facts, you may not have been aware of…

Here are the real facts about the Canadian Life Insurance Industry and how it protects Canadians...

Interesting Life Insurance Facts for Canadians

Interesting Insurance Facts…

 

1. At the end of 2011, Residents of Ontario held more than $1.5 Trillion Dollars’  worth of Life Insurance protection for their dependants.

 

2. Of the 13.5 million people who live in Ontario, 7.9 million of them carry Life Insurance Benefits,  so more than half of Ontarians have Life Insurance coverage. Where do you stand?

 

3. The average person had less than $180,000 worth of coverage  as an average. How many years of your income do you need to support your family?

 

4. The average household in Ontario owned less than $400,000 worth of coverage  for their dependants. Do you know how much coverage protects your family?

 

5. In Ontario, 65% of all purchases  were made through an (LLQP) Licensed Life Insurance Agent, did you have such a privilege? How were your needs determined?

 

6. Almost 90% of new and renewing  Group Life Insurance coverage in 2011, had been moved from one Insurance company to another. How secure do you feel about your employers Life Insurance Coverage for your family?

 

7. In 2011, the clients in Ontario received more than $34 billion worth of benefits  from their Insurance Portfolio, including Annuities and Investments for retirement. This does not include any Car insurance or Home insurance claims… This is purely personal Insurance protection.

 

8. Dividend payments to Participating Policy holders totaled $1.2 Billion in 2011.  Does your Insurance Company pay you every year that you are still alive? This is one of the most tax efficient ways to receive an Income into Retirement…

 

9. Assuris is the Insurance Company of the Insurance Companies. There are 94 Member companies covered by Assuris, and it is meant to provide consumers the peace of mind that if for some reason an Insurance company was to go bankrupt, the member organization will protect the policy holders

 

10. The families of Ontarians received over $3.8 Billion dollars  in financial benefits in 2011 due to proper and diligent Insurance Planning. How would your affairs match up, if you were not there to provide for your family tomorrow?

 

All data disseminated from the CLHIA 2011 Facts and Figures Guide, which is the most recent compiled data…

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