Personal Finance

anyone heard of Assurant Life of Canada?

  • Last Updated:
  • Apr 18th, 2018 1:23 pm
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[OP]
Deal Fanatic
May 18, 2009
5046 posts
982 upvotes
Richmond Hill

anyone heard of Assurant Life of Canada?

Can anyone pitch it on rather they are legit? Googled and found nothing adverse to this company.

TIA
5 replies
Sr. Member
Jul 28, 2012
922 posts
299 upvotes
Montreal
The name rings a bell as I have seen it on credit card documentation (perhaps for creditor insurance). I'm curious: what kind of product were you looking into?
[OP]
Deal Fanatic
May 18, 2009
5046 posts
982 upvotes
Richmond Hill
airodyssey wrote:
Apr 18th, 2018 10:45 am
The name rings a bell as I have seen it on credit card documentation (perhaps for creditor insurance). I'm curious: what kind of product were you looking into?
i heard they have 'cheap' premiums for funeral insurance. So 'cheap' raises flags, that's why im here.
Member
Sep 23, 2013
412 posts
205 upvotes
Waterloo, Ontario
Looking through their website (http://www.assurantsolutions.com/canada ... index.html) they appear to be multi-lined insurance but only offer final expense insurance (no other life insurance). That to me is a red flag, I'd be cautious there. If you were doing final expense insurance plan there are a number of different companies you could choose from depending on your health that have "cheap" premiums but also solid plans. Normally I recommend people go for underwritten insurance for final expenses if they're healthy; for final expenses it's usually a medical questionnaire because the smaller payout amount. Sometimes, you may need a nurses visit depending on your age, for context, I just had a 71 year old male apply for $20,000 of whole life insurance, a nurse had to come in to check his blood pressure and ask questions, no blood or urine was needed.
Life and Health Insurance Agent.
Licensed with 8 companies, access to nearly a dozen more.
[OP]
Deal Fanatic
May 18, 2009
5046 posts
982 upvotes
Richmond Hill
SteveDfsin wrote:
Apr 18th, 2018 12:26 pm
Looking through their website (http://www.assurantsolutions.com/canada ... index.html) they appear to be multi-lined insurance but only offer final expense insurance (no other life insurance). That to me is a red flag, I'd be cautious there. If you were doing final expense insurance plan there are a number of different companies you could choose from depending on your health that have "cheap" premiums but also solid plans. Normally I recommend people go for underwritten insurance for final expenses if they're healthy; for final expenses it's usually a medical questionnaire because the smaller payout amount. Sometimes, you may need a nurses visit depending on your age, for context, I just had a 71 year old male apply for $20,000 of whole life insurance, a nurse had to come in to check his blood pressure and ask questions, no blood or urine was needed.
i think this is just for funeral expenses, not life/health insurance.

edit: we are just looking at their funeral insurance: http://www.assurantsolutions.com/canada ... re-t3.html
Member
Sep 23, 2013
412 posts
205 upvotes
Waterloo, Ontario
yesstyle wrote:
Apr 18th, 2018 1:13 pm
i think this is just for funeral expenses, not life/health insurance.

edit: we are just looking at their funeral insurance: http://www.assurantsolutions.com/canada ... re-t3.html
Yup, I know. There are still certain requirements for final expense insurance in terms of underwriting or health questions. Otherwise, this company will get a bunch of stage 4 terminal cancer patients signing up for funeral expenses and they'd be on the hook for $15,000-$30,000 funeral expenses per person. Funeral insurance is basically life insurance with a different brand name.
Life and Health Insurance Agent.
Licensed with 8 companies, access to nearly a dozen more.

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