Health & Tax Tips – Life Insurance
Health Tips to Getting Cheaper Insurance
We recently had a client who was considering updating their insurance, they obtained quotes from us, but did not complete the applications. Fast forward 9 months later, they have developed a chronic headache they just cannot shake. They have been to their Doctor, who then referred them to different specialists. The insurance company really tried to approve this application, but they postponed the application until the final tests are in. Which, the problem, some of the specialists are booking 1 year away. Moral of the story is buy insurance when you are healthy and don’t need it.
If you are trying to get the best rates on your insurance, see this checklist:
- Schedule your life insurance medical exam to take place early in the morning
- Don’t drink coffee or smoke beforehand
- Avoid salts and fatty foods
- Drink lots of water
- Don’t drink or smoke marijuana
- Prepare a list of any medications you are taking
- Avoid working out
- Don’t schedule the exam during a menstrual period
- Get plenty of sleep
- Fear of blood or needles? Tell your medical examiner.
Life insurance Tip for Individuals with Corporations
Do you have a corporation and still own your life insurance personally… book a quick call to review this situation it may save you significant tax, and not reduce any of your benefits of the coverage. There is a strategy whereby you can have your company own your life insurance and you can use your company to make the premium payments. (Current April 15 2021)
Do you STILL have Mortgage Life Insurance?
STOP reading if you do, and watch this short video. You are wasting money. Call me and we will help get a quote for you to compare.