80% of us overestimate the cost of life insurance. In fact, those with no life insurance think it's 3 times more expensive than it actually is. (LIMRA, 2015). But for many, the cost per month would be less than buying a cup of coffee everyday. So what is the cost of insurance? Life insurance prices are unique to the individual. Premiums* are based on lifestyle and health questions. But here are the facts about life insurance costs: general cost increases as we age life insurance is more expensive for males (25%+ higher cost) life insurance costs are up to 100% higher for smokers In addition to the increasing costs that come with age, the older we are the more likely we are to be uninsurable. So if insurance is required over a long period of time (have a growing family?) instead of choosing a shorter length of time like 10...
Like each of us, life insurance policies have different strengths. They each have their own purpose, features and benefits. When we're considering life insurance options we all look for different things depending on the specific needs of our own loved ones. When planning what life insurance is right for you, there are two terms you need to understand: “term” and “permanent”. These are two big product categories, and the products are designed for different needs. So let’s break them down so you can make some informed decisions. Both term and permanent life insurance will protect your family in the event of a premature passing by providing tax-free proceeds to help maintain their standard of living. But what’s the difference between these two products? Need coverage for fixed period of time? Term insurance is great for financial obligations that have a fixed duration, such as: mortgages, car loans, funding for a...
Teachers Life sent two students to Me to We's Take Action Camp this summer! In the spring we took applications from Ontario students aged 9-18 for two scholarships for a week at Me to We’s Take Action Camp. Our winners were the amazing 17 year-old Jathusha Mahrenthirarajan and the delightful 12 year-old Falak Somani! Both girls sent us enthusiastic letters about their time at camp. We were thrilled to discover that both campers had a wonderful and inspiring adventure at this unique place. Read Falak's letter: Take Action Camp was an experience that I will never forget. It made my dreams become easier to achieve and has led to me to even more opportunities. (e.g, because of this camp I finally get to go to We Day!) To begin, the first few days of camp we talked about why we are all here, and what we are here to do....
Teachers Life sent two students to Me to We's Take Action Camp this summer! In the spring we took applications from Ontario students aged 9-18 for two scholarships for a week at Me to We’s Take Action Camp. Our winners were the amazing 17 year-old Jathusha Mahrenthirarajan and the delightful 12 year-old Falak Somani! Teachers Life staff were so happy to hear that the campers had an inspiring time and we are thrilled to share with Members letters from both girls about this unique summer camp experience. Read Jathusha’s letter: With the generous scholarship from Teachers Life, I was able to do the two-week L.I.T (Leader In Training) program at Me to We’s T.A.C (Take Action Camp) this summer. T.A.C is a home like no other for youth who are passionate to the core about “being the change they wish to see in the world”. These two weeks, I have believed...
