children insurance

Use Marijuana? Game Changing Update

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In the world of insurance, Sun Life has made a monumental, game changing announcement in regards to marijuana usage and is the first insurer to do so:

“Clients who use marijuana will no longer be charged smoker rates, unless they also use tobacco.”

Time and time, again, clients who recreationally use pot have insisted they are not smokers; or at least not smokers in the traditional sense. However, in the eyes of all insurance companies, they were still considered a smoker. Smoked a hundred joints a year? Smoker. Five joints a year? Smoker. One joint a year? Smoker. Consumed marijuana in various forms of baking? Yep, you guessed it, smoker. As a smoker, the premiums you pay are 30-50% higher than those who are considered non-smokers.

What’s led to the change in decision? Given the latest medical and health research studies and impact of marijuana use, Sun Life has decided to update their guidelines, accordingly. It’s highly possible that the other major insurance company’s will follow Sun Life’s lead. Given the new Federal Government’s plans to legalize marijuana, it will be interesting to see what other insurance changes transpire moving forward.

Have an existing Sun Life policy that you pay smoker rates on due to marijuana use? You can apply to have the smoker status removed, provided you do not consume tobacco products and are in good health/ there has been no negative change in health.

Have questions? Contact me anytime.

Make it a great day!

Ryan Schade
204-292-6585
ryan@rlsinsurance.ca

The New Year – Why It’s An Excellent Time To Review Your Insurance

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Hi everyone, hope your 2016 is off to an excellent start! The New Year is welcomed by many as a clean slate; a chance to start fresh. It’s an opportunity to get things in order, beit their finances, commitment to health, or other worthwhile goals. The beginning of the year is also the perfect time to review your existing insurance plan with your advisor.

How often should it be reviewed?

Ideally, your insurance plan should be reviewed every 1-2 years, or any time there’s a major life event, to ensure it’s still relevant. Many can inadvertently leave themselves, their families, or their businesses exposed because insurance that was purchased to meet their needs 2, 5, 10 years ago may not be relevant, or adequate, today. Remember, insurance is not a ‘set it and forget it’ plan. Rather, it is designed to be tailored to you as you go through life, and adjusted only if need be.

Several reasons why a review of your insurance plan makes sense – Do any apply to you?

  • Purchase of a new home, cottage, rental property, other property
  • Marriage, or divorce
  • Birth of a child, or grandchild
  • Change in career, or change in income
  • Major health event, or passing of a loved one
  • Start of a business, or purchase of an existing business
  • Have mortgage insurance

Please be sure you meet with your advisor to ensure your plan is up to date. Wishing you all the absolute best in the New Year!

Have questions? Feel free to contact me today. Always here to help.

Ryan Schade
RLS Insurance Solutions
204-292-6585
ryan@RLSInsurance.ca

Insuring Children – Why It Makes Sense

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When you think about life’s most precious gift, your children/ grandchildren top the list. We would do anything for them; especially, if it involves giving them an advantage in life. Aside from the ‘occasional’ temper tantrum, creation of spectacular messes and stalling when it’s time for bed, they definitely bring a tremendous sense of love, pride, joy, and infinite laughter to families. What doesn’t often top the list; however, is the idea of insuring them. Wait!  Some of you may not want to think about such an idea, but bare with me, you may want to be in the know on this one. Lately, I have been doing a lot more life and critical illness insurance on children; more than usual. Through my conversations with many a parent and grandparent, the common sentiments expressed upon learning of the benefits of insuring children were that of gratitude. Most were pleased to have learned about the benefits and that they had the ability to do something great for their precious little ones. Most even wished that their parents would have done the same when they were children.The reality is, their parents probably didn’t know such a thing were even possible, or like many parents I talk to, were uncomfortable discussing the subject. This got me thinking, how many others out there are similarly unaware, or unwilling to discover the significant benefits of insuring children, simply because they didn’t know, or didn’t want to talk about it? The reality is, it could quite possibly be one of the best kept secrets in planning your child’s future. Continue reading →