Windsor Life Insurance Plans

Why Life Insurance is important for Windsor residents?

The cost of living in Windsor is relatively low when compared to most other cities in Ontario. The relatively low cost of living makes it easy for Windsor residents to live comfortably in Windsor. However, your cost of living may increase if you have a family or a child. With reliable Windsor life insurance coverage, you can protect the financial future of your loved ones and ensure that they can easily cater to the aforementioned expenses in the event of your death or loss of income. To read more about Windsor life insurance, click here.

What is the minimum insurance coverage for Winsor residents?

As a rule, you should be covered for a minimum of ten times your annual income. This means that if you earn $50,000, you should be considering life insurance coverage up to $500,000. Another important factor in deciding on your life insurance coverage is your cost of living. The average cost of living in Windsor is $2,131.41 per month which is up to $25,576.92 per year. This includes the cost of rent, transportation, groceries, phone and internet, entertainment, fitness, and insurance.

What is the life expectancy for Windsor residents?

Windsor has an overall life expectancy of 81.7 years; the life expectancy of Windsor males is 79.7 years, while the life expectancy for Windsor females is 83.6 years.

What are the Life Insurance rates in Windsor?

Windsor life insurance rates will depend on a lot of factors. We consider the average rate paid by Canadians. There are several factors to consider and questions to answer before choosing Windsor life insurance rate or life insurance rate in any location.

To find more information about where to buy Windsor life insurance click here.

Windsor Life Insurance News

Sun Life and MetLife head to court a few years after the former took over the latter’s Canadian life insurance policies. Sun Life claims that it has clear evidence that indicates that MetLife showed its customers a wrong picture of how their insurance cost could increase over the life of the policy. The life insurer wants MetLife to be held responsible for legal claims by customers who claim they are paying more for their coverage than they were promised. Angry customers filed a lawsuit against Sun Life stating that the insurer continued to administer plans and charging a lot of Canadians increasing premiums but at the same time, concealing its awareness of the systematic misrepresentation of sales that took place. Due to the customers’ complaints, the Ontario Court of Appeal certified a class of action against Sun Life in early September. The class of action alleged that the insurer breached the contracts it had with customers when calculating the increase in fees on its policies. Up to 230,000 life insurance policies were involved in the allegation and the policies were sold between 1985 and 1988. Moreover, the lawsuit demands up to $2.5 billion. Sun Life did not comment on appealing the ruling but it says it is reviewing the appellate court’s decision. A spokesperson from Sun Life said the insurance company cares deeply about their clients and they are working to help them to achieve a lifetime financial security and also to live a healthier life. A lot of Canadians continued to pay premiums to keep their coverage, even though the dispute policies were sold in 1998. To learn more about Windsor life insurance news click here.