Getting a Life Insurance
Sep 11th 2009, 5:12 am
#1
Forum Regular
Thread Starter
Joined: Feb 2009
Posts: 268
Getting a Life Insurance
Hi all,
We went to see a financial advisor today discussing our financial and long term needs. One that we consider getting is Term Insurance. On the application ask about our SIN. As I forgot to ask him, I would like to ask you guys if it is a mandatory requirement if you apply for an insurance? Thanks.
We went to see a financial advisor today discussing our financial and long term needs. One that we consider getting is Term Insurance. On the application ask about our SIN. As I forgot to ask him, I would like to ask you guys if it is a mandatory requirement if you apply for an insurance? Thanks.
Sep 11th 2009, 2:11 pm
#2
Joined: Jul 2005
Posts: 15,883
Re: Getting a Life Insurance
Hi all,
We went to see a financial advisor today discussing our financial and long term needs. One that we consider getting is Term Insurance. On the application ask about our SIN. As I forgot to ask him, I would like to ask you guys if it is a mandatory requirement if you apply for an insurance? Thanks.
We went to see a financial advisor today discussing our financial and long term needs. One that we consider getting is Term Insurance. On the application ask about our SIN. As I forgot to ask him, I would like to ask you guys if it is a mandatory requirement if you apply for an insurance? Thanks.
Fact Sheet: Social Insurance Number
Sep 11th 2009, 2:15 pm
#3
Joined: Sep 2008
Posts: 12,830
Re: Getting a Life Insurance
Be careful who you give out your SIN to. I rarely give it out.
Last edited by Aviator; Sep 11th 2009 at 3:24 pm. Reason: Extremely poor grammer
Sep 11th 2009, 4:35 pm
#5
Forum Regular
Thread Starter
Joined: Feb 2009
Posts: 268
Re: Getting a Life Insurance
Thanks for all your replies. I've emailed the financial advisor and replied that if not born in Canada I need to provide my SIN# or PR card. I am not happy to give our SIN# but we don't have a PR card either as we are on a TWP. Will that be a reason to decline our application? Or should we provide our a copy of our TWP instead? 
many thanks.
many thanks.
Sep 11th 2009, 6:25 pm
#6
BE Forum Addict
Joined: Oct 2006
Location: BC
Posts: 1,361
Re: Getting a Life Insurance
Don't forget your employer provides group life insurance as your
benefit.Check with HR about how much is the pay out to your beneficiary.
That might help you and your spouse decide how much coverage is needed
for your family's needs.By the way how is your new job?
Yoong
benefit.Check with HR about how much is the pay out to your beneficiary.
That might help you and your spouse decide how much coverage is needed
for your family's needs.By the way how is your new job?
Yoong
Sep 11th 2009, 8:27 pm
#7
BE Forum Addict
Joined: Dec 2007
Location: Calgary
Posts: 2,092
Re: Getting a Life Insurance
Group life is typically twice income: for a family with a mortgage, car loans, other debts and depending on two incomes to bring up their kids, that is not enough.
Sep 11th 2009, 10:19 pm
#8
Born again atheist
Joined: Jul 2005
Location: Europe (to be specified).
Posts: 30,259
Sep 11th 2009, 10:52 pm
#9
Joined: Jul 2005
Posts: 15,883
Re: Getting a Life Insurance
That'll be just about the time I pop me clogs.
Last edited by Steve_P; Sep 11th 2009 at 11:07 pm.
Sep 11th 2009, 11:23 pm
#10
BE Forum Addict
Joined: Jan 2008
Location: Now back in Edinburgh
Posts: 1,155
Re: Getting a Life Insurance
I am on the look out for a decent pair of clogs 
Anyway seeing we are on about insurance, I have had the same insurance broker for over 20 years he has been fantastic but now that I am looking at immigration he has come up with the idea that a very cheap policy that will (on me hanging up my hat and slipping off me old clogs) that will give a small lump sum for the kids, this is a British based policy that covers me even when I am living abroad. Has anyone heard of such a thing?
Anyway seeing we are on about insurance, I have had the same insurance broker for over 20 years he has been fantastic but now that I am looking at immigration he has come up with the idea that a very cheap policy that will (on me hanging up my hat and slipping off me old clogs) that will give a small lump sum for the kids, this is a British based policy that covers me even when I am living abroad. Has anyone heard of such a thing?
