We welcome all of your comments and suggestions
Click here to email us!
Click here for news from various publications
After hours claims:
204-985-1777
info@tcim.ca
Life / Accident / Pensions / Benefits
Introduction
Glossary of Life Insurance and Financial Terms - From Beaton Insurance Services.
Main difference between life and general Insurance:
Life insurance is much different from
general insurance. It is not a contract of indemnity and generally is not
therefore subject to the two basic corollaries of a contract of
indemnity (subrogation and contribution).
Definitions
Annuity
A contract that provides for periodic payments starting
after a stated period or on a contingent date and continuing for a
fixed period or for the remaining life of the annuitant.
Employee Benefit Plan
A plan created or maintained by an employer or employee
organization, providing benefits to employees. The two main types are
employee pension plans (for retirement benefits) and employee welfare
plans (for benefits such as life insurance, health and dental
insurance, and disability income insurance). A plan's cost can be
completely paid by the employer or be shared by the employer and
employees. A plan can also provide advantages or benefits to employees
whether or not they are insured, including sick leave, disability,
profit sharing or a stock purchase program.
Pension
Money paid at regular intervals as a retirement
benefit. A retiree has to meet eligibility criteria under the
retirement plan.
Term life insurance
Life insurance in effect for a specific
length of time (e.g., 5 or 10 years). If the insured survives beyond
that period, coverage ceases. Unlike a whole life policy, this type of
policy does not build up any cash or non-forfeiture values.
Whole life insurance
Life insurance in effect for the entire
life of the insured (provided premiums are paid). In most cases, no
physical exam is required.
Insurance Sources
(General - Not necessarily accessible by TCIM)
- Alberta Blue Cross
- Beaton Insurance Services - Canadian residents will find an abundance of free and useful information about Life Insurance, Critical Illness/Living Benefit Insurance, RRSPs, RRIFs, LIFs and Segregated funds. - Excellent Resource.
- CAA
- Canada Pension Plan
- Canada Life
- Combined Supplemental Insurance
- Critical Illnes Insurance
- David Cummings Insurance Services - International Student Health Insurance, World Wide Health Coverage for professionals & expatriates, Travel Health Insurance for Canadians, Customized Plans for Special Events and Conferences, Group Benefits.
- Elite Benefit Solutions
- Great West Life Assurance Company
- Health Insurance.com
- Health Symphony - Insurance quotes, news letters and various other resources for health insurance
- Life and Health Insurance Foundation for Education (LIFE) - An educational site designed to provide you with unbiased, straightforward information on life, health and disability insurance.
- Manitoba Blue Cross
- Mercer Consulting Group - A global consulting firm active in all aspects of strategic and operational human resource consulting and implementation.
- William J. Sutton & Co. Ltd. - Sports.
Other Resources
- Academy of Life Underwriting
- Benefits Canada
- Benefits Link - U.S. Resources.
- Canadian Life and Health Ombudservice
- Glossary of Life Insurance and Financial Terms - From Beaton Insurance Services.
- Health Symphony - Insurance quotes, news letters and various other resources for health insurance
- The Insurance Forum
- Towers Watson
- Viatical & Life Settlements - Consumer information.
