Universal Life Insurance Canada

Universal life and Long-Term Care Combination Plan

Alzheimers disease is the top reason people claim long term care benefits by Michael Carian

Desjardins combines life insurance
with long-term care.
Photo by Michael Carian

Canada.com reports that Canada's rapidly aging population has led to a 38% increase of seniors living in nursing homes or other collective care facilities over the last ten years. This make sense given that the total amount of Canadians aged 65 and over went from about 3.9 million in 2001 to about 4.9 million in 2011, according to Statistics Canada. Of course, such a jump in senior population is bound to put a strain on hospitals, nursing homes, assisted living and every other form of residential care.

Type of service Provincial rate
In-home meal preparation (per hr) $15.00 - $36.95
Laundry/house cleaning (per hr) $15.00 - $36.95
Personal care (bathing/dressing) (per hr) $15.00 - $36.95
Skilled nursing (per hr) .00 - .00
24 hour live-in care (per hr) .25 - .95

life insurance testimonialsOn the other side of the spectrum, a private room at a nursing home, with no government subsidy, could cost , 458.00 - , 500.00 and even the government subsidized nursing home could see the resident spending 80% of their after-tax income subject to minimum and maximum rates, which are the following:

Monthly Rate

Minimum 2.27
Maximum , 022.80

For the first time, Desjardins Financial is doing something truly unique to address this expense, combining long-term care insurance with their own universal life insurance plan. Universal life insurance provides lifetime protection and flexible premiums packaged in a variety of investment options.

These plans also allow the applicant to accumulate funds on a tax-deferred basis. This accumulation fund can be set up, so it pays out on top of the death benefit tax-free. The accumulation fund can also be used to offset future premiums.

Unlike whole life insurance, universal life coverage allows the applicant to adjust the premiums upward or downward and also allows them to choose from a variety of investment options. Plus, the Desjardins Financial Long-Term Care Advance allows the insured to use up to 1% of the policy face amount as long-term care coverage to a maximum of $2500 a month in a maximum benefit period of 100 months. It's important to note however that the insured must be 55 or under to add this rider.

Inadequately Funded Universal Health Care Leads to Rationing: Part 1-Canada.: An article from: National Right to Life News
Book (National Right to Life Committee, Inc.)

Universal health care= tax hikes in recession

by five0

That's all it is. Socialised programs are just another excuse to make it socially acceptable to raise taxes during a recession. Hillary's healthcare plan is too expensive. If you look at the way it works in Canada and Europe, people die waiting for emergency care. They pay premium prices in their taxes for it - and we all wonder where the money goes.
If you don't believe me, they're coming to America to get life saving medical treatments.
The problem with socialised health care is that there is no incentive for the government to provide quality insurance. THere's no competition for the government, you can't really sue the government or hold them responsible for malpractice and other things of that issue

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