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Joint Life Insurance

As a Life Insurance Pro, delve into the intricacies of Joint Life Insurance—a policy that amalgamates policyholders' mortality rates through precise mathematical algorithms, resulting in a singular, often more economical plan. Distinguish it from Combined Life Insurance, which yields marginal savings for couples purchasing individual policies simultaneously. For example, a healthy 40-year-old couple opting for a First-To-Die policy would encounter premiums akin to those of a healthy 46-year-old male purchasing individual coverage. This reflects their combined age, influenced by the heightened likelihood of one individual passing away prematurely.

Conversely, a Last-To-Die policy mirrors premiums akin to those of a healthy 31-year-old male, underscoring the likelihood of at least one policyholder enjoying an extended lifespan. Notably, marital status isn't a prerequisite for application; insurers extend coverage based on valid reasons for insuring the other applicant's life, such as business partnerships seeking to settle liabilities post-demise.

Our Reviews

Excellent4.8 Based on 335 reviews from ★★★★★ Theresa Heuser is professional and competent in the insurance process. A pleasure!Ronald BironRonald Biron ★★★★★ What a pleasure dealing with Ummi, who took all the pain out of purchasing Travel Insurance for my wife and I, who are both 80 year old Seniors. Sensitive and yet enquiring, Ummi guided us through the minefield of questions with the competant ease of an expert. Ummi was responsive to any unintended omissions and made sure there were no loose ends that could disqualify any future claim. We go on Holiday knowing that we have been professionally prepared with cover for Medical emergencies, if they should arise.John DawkinsJohn Dawkins ★★★★★ great service by the phone and email.h mh m ★★★★★ We bought Emergency Medical policy for our coming trip from Ummi Hanny. She was such a good help and responsive to all our questions, either by phone or emails. Such an excellent service, above and beyond our expectations!! Thank you!Jacob SteinbergJacob Steinberg ★★★★★ We booked travel insurance with Ummi Hanny for a river cruise we are taking this summer. She was very professional, responded quickly and efficiently to emails, calls and questions. Would definitely recommend her and Alliance/Allianz.Kathy CastleKathy Castle ★★★★★ It was a pleasure to deal with Artmiz. Very polite and Patient. Nice to deal with someone who knows and enjoys their job.Tom BrailsfordTom Brailsford ★★★★★ I just finished getting a tailored insurance package with the help of Ummi. I really appreciated the attention to detail and how knowlegable she was on the various packages. Ummi was able to get us an annual package for me and my wife that focused on our need for Trip Cancellation/Inturruption and also a single trip comprehensive package for our 3 grandchildren that will be traveling with us on our next trip. It was a pleasent experience. Ummi detailed the options and made recommendation that ensured we had the coverage we needed at the best possible price. This was all done over the phone and email and we received the comple package immediately after the purchase in our email. Thanks UmmiJeff LangJeff Lang ★★★★★ We were helped by Ummi Hanny she is very professional and helpful.Thanks for your understanding,Heinz KriegerHeinz Krieger ★★★★★ Ummi was our Insurance agent helping with getting medical and cancelation policy -she was very professional and knowledgeable and was able to get us a very reasonable insurance rates.Milos RudolfMilos Rudolf ★★★★★ Eric provided policy information, confirmed my personal details to ensure the policy would be correct, processed my payment quickly.Tracy HastingsTracy Hastings ★★★★★ I dealt with Ummi Hanny, oh my she was wonderful! She even laughed at my jokes. What a great first experience.Lise BeaulneLise Beaulne ★★★★★ Ummi. was very helpful and pleasant. Billwilliam rockwilliam rock ★★★★★ Our purchase of Allianz Emergency Medical Insurance through Alliance Income Services Corp was a breeze. Ummi and Mariam was a pleasure to work with. They were both very patient, knowledgeable, and efficient in presenting the various options available to us. Mariam did a lot of leg work comparing several insurance companies just to find a plan that suit our needs. Ummi then completed the processing of the policy effortlessly and made the process seamless. I would highly recommend anyone who needs an insurance coverage to speak to especially this two ladies.Danny ChinDanny Chin ★★★★★ My agent Artmiz was very helpful and provided me with a quote quickly. When I was ready to accept the quote she responded quickly and sent me all the necessary documents just as efficiently. Happy with my interactions.Stephanie RumbleStephanie Rumble ★★★★★ Eric and Bob were both extremely helpful and attentive to my needs.Paul CodyPaul Cody ★★★★★ Teresa was great. Addressed all my concerns.Robert CarterRobert Carter ★★★★★ The service given by Ummi Hanny was excellent- very pleasant, courteous and professional.Simin MeshginnafasSimin Meshginnafas ★★★★★ I had a top notch experience with this insurance broker. Eric Clementi was the person that helped me from the day that I asked for a quote online. He was very thorough with explaining every minor details that might be misunderstood between the client and the provider. Eric is very professional with his tone of voice which makes a potential client feel at ease. Nonetheless, I’ve tried different insurance broker, their monthly fees are way above the average, Alliance income Services Corp has the most decent fee for a family of five… it’s a bang for the buck kind of thing. Truly recommend this company. 👍Mark EngelMark Engel ★★★★★ Eric Clemente and Ryan were excellent to deal with. Both were very helpful , to the point , and curious .Michael BoudreauMichael Boudreau ★★★★★ Excellent service by Eric Clementi and Ryanmargaret burnsmargaret burns ★★★★★ Eric and Adam were very helpful with my travel medical insurance. Now I realize if I have to use this coverage that I will be in great hands.Bonnie SmithBonnie Smith ★★★★★ Hello...Eric was very easy to work with ....very polite....and set up my insurrance policy very quickly....thank you again Eric....Marsha Risser.Marsha RisserMarsha Risser ★★★★★ I ordered insurance for my husband and myself. It was a very easy process and was helped greatly by Eric and Dylan. Both were very diligent with helping me through it all. Very easy and quick.Marilee Van BuskirkMarilee Van Buskirk ★★★★★ It was a pleasure speaking with Eric Clementi. He was polite, understanding and considerate.Mohinder BangaMohinder Banga ★★★★★ I was quite happy to get excellent & friendly customer services from Artmiz - very helpful & knowledgeable!Bruce YeeBruce Yee ★★★★★ Great service from knowledgeable and very helpful people. Thank you Eric Clementi and Ezarie!Beverley HowickBeverley Howick ★★★★★ Eric Clementi is the manYunus PatelYunus Patel ★★★★★ I had to sign up for my own health and dental insurance. The staff at this company were quick to get back to me and provide suggestions on insurance plans. The sign up process was very easy to do over the phone. I communicated with Eric Clementi who was very professional and efficient.Muhammad KoyaMuhammad Koya ★★★★★ It was pleasure working with Mariam and Eric. We are seniors and trying to get a reasonable price for travel insurance.Fay BellefontaineFay Bellefontaine ★★★★★ I sent an email yesterday. They called today. Marion and Eric were excellent. Highly recommend this company. Rates are excellent tooAnnette ChisholmAnnette Chisholm ★★★★★ Eric was fantastic. Quick , easy and affordable.Tracey PeerTracey Peer ★★★★★ Eric was very professional and found the best plan for me at this time.Trev HutchinsTrev Hutchins ★★★★★ Eric Clementi was an absolute pleasure to work with. Very professional and courteous.Berit LysBerit Lys ★★★★★ Artmiz, must be the best Agent I have ever dealt with. She is articulate and has a wonderful sense of humour apart from an intimate knowledge of her products. She demonstrates a quick grasp of what people actually need (or don't need) and points quickly to available options. She is actually the only Insurance Agent I feel like calling back again. Great work Artmiz !!Malcolm KhanMalcolm Khan ★★★★☆ Artmiz was very helpful and polite.We would certainly consider using Allianz againVictor LeblancVictor Leblanc ★★★★★ Artmiz Namazi is one of the most pleasant people I have ever dealt with. She was polite, personable, and helpful on the telephone. She promptly replied to both phone calls and emails. It was a pleasure to deal with her. The price of the insurance was more than reasonable.Patricia KostrichPatricia Kostrich ★★★★★ Artmiz Namazi is very helpful, patient & just a delight to speak with doing businessWe have dealt with different people for travel insurance over the years & some could take some lessons from ArtmizJoan FlemingJoan Fleming ★★★★★ Artmiz was very pleasant and patient to deal with. Happy with our coverage.Bob WainesBob Waines ★★★★★ I need a travel insurance, I had spent a lot of time for search online and talked with many agencies, none of them to give me the good advice and the good price.Finally I got Alliance Income services company, special thanks to Ms. Artmiz Namazi.Ms. Artmiz Namazi very professional, friendly, working hard. She got for me the most efficient contract with the best deal.Don’t waste your time, here is the company for you to get travel insurance when needed.Tuong Dang (Tuong Dang)Tuong Dang (Tuong Dang) ★★★★★ Eric was a great help !angela youngangela young ★★★★★ I spoke with Stephania , then with Eric . Thay were both very helpful and courteous and friendly. They made purchasing insurance very easy. Thank you .Mary MacPheeMary MacPhee ★★★★★ Good experience.Tina PiquetteTina Piquettejs_loader

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Joint Life Insurance Options in Canada

In Canada, two primary types of Joint Life Insurance are available:

Joint First-to-Die

This policy disburses the death benefit upon the demise of one insured individual. Typically chosen when partners share financial responsibilities, it safeguards against the potential impact of one party’s death on meeting obligations. The policy’s cash value can address diverse needs such as debt settlement, mortgage payments, funeral costs, and income replacement. Certain insurers may offer a double payout if both insured parties pass away within a short timeframe, provided designated beneficiaries exist outside the policyholders.

Joint Last-to-Die

These policies release the death benefit upon the demise of both insured parties. Frequently purchased to support the couple’s children or dependents, this policy requires the surviving insured to continue paying premiums until their own passing.

Tips to Save Money on Joint Life Insurance

Explore these money-saving tips for your Joint Life Insurance:

Compare Rates

Let Life Insurance Pro streamline the process by comparing rates from various Canadian insurers when you request a quote through our platform.

Consider Your Age

Secure a policy at a younger age to potentially lock in lower premiums. Take action before your next birthday to avoid potential rate increases.

Prioritize Health

Healthy individuals eligible for regular life insurance can benefit from applying for a fully underwritten policy, potentially resulting in lower premium payments.

Quit Smoking

Smokers often encounter significantly higher premiums. Quitting not only saves money but also enhances overall health, potentially leading to lower insurance costs.

Review Renewal Options

Stay vigilant as rates may fluctuate over time. Rather than automatically renewing, explore new policies or consider converting your Term plan to Permanent Life Insurance for potentially improved rates and coverage.

Joint Life Insurance FAQ’s

This section aims to provide even more valuable information on the topic of Joint Life Insurance:

Joint Life Insurance is a single policy that covers two individuals, typically spouses or partners. It differs from individual policies in that it provides coverage for both individuals under one plan, often at a lower cost than two separate policies.

Joint Life Insurance policies typically cover spouses or partners. However, some insurers may extend coverage to other family members or business partners, provided there are valid reasons to insure each other’s lives.

The two primary types of Joint Life Insurance in Canada are Joint First-to-Die and Joint Last-to-Die policies. The former pays out the death benefit upon the first insured individual’s death, while the latter pays out when both insured parties pass away.

Yes, beneficiaries can typically be designated separately for each insured individual. This allows for flexibility in determining how the death benefit is distributed in the event of one or both insured parties’ deaths.

In a Joint First-to-Die policy, the death benefit is paid out upon the first insured individual’s death. In a Joint Last-to-Die policy, the death benefit is paid out only when both insured parties have passed away. The surviving insured may continue the policy or explore other options depending on the terms of the policy and their insurance needs.

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