Hull Life Insurance Corporation

05/31/2022

Small Business Owners' Coverage

As a business owner, it would be helpful to consider purchasing additional coverage that can cover in case of business interruption or other unforeseen illnesses. Because you possibly won’t be able to work, having coverage that can cover your business while you concentrate on getting better can be helpful.

“Individuals are 10 times more likely to develop a critical illness than they are to die prior to age 65. Critical illness insurance pays a tax-free lump sum benefit after the diagnosis and survival of a covered illness. Many insurance companies offer coverage for at least 20 major illnesses, with the main ones including cancer, heart attack, and stroke. The insured can use this benefit any way they please.”

As a business owner, you might not go through these kinds of life-threatening instances every single day, but having coverage that will cover you in the case of a catastrophe could be a great asset.

05/27/2022

Family comes first, as a family business we understand that, so knowing the type of life insurance coverage that is right for your family is important.

Often the simplest coverage for your family is to own a term life insurance policy. For this, you choose the coverage amount you want your family to receive in the event of your passing within a certain amount of time. This is called the death benefit.

For example, you choose a death benefit of $1,000,000 for a term of 20 years. If you die within the 20-year time span, the beneficiaries you choose will receive the full amount listed on your policy, tax-free.

This can help cover family expenses, like the mortgage, as well as cover funeral costs for you.

If you live past the term, your family will not receive the death benefit but you can renew your policy. As you age, your premiums will cost more, since the risk of death within the next time block is higher as you get older. This means the monthly payments will be higher for the same amount of coverage, as you age.

Read the full post on our blog. Link in our bio.

05/26/2022

Life Insurance: The Math


Don’t get too scared; the math isn’t that complicated. It just requires some simple addition and subtractions.

The Equation: [Financial obligation you want to cover] – [Existing Assets that can be used towards bills] = Life Insurance Policy Needs.

So what goes into Financial obligations? Well, everything from income replacement to a mortgage and other large debts.

So what about the other side of the equation; what exactly are Existing Assets?

Existing Assets include everything from existing life insurance (like group insurance through your work), savings and any other financial assets you have in place.

04/19/2022

If you are self-employed, disability insurance is a welcome safety net that can help you maintain your quality of life if you become disabled and unable to work.

Disability insurance replaces income if you are temporarily unable to work due to an illness or injury. It also provides additional benefits not typically included in basic health insurance plans.

If you would like to understand how disability insurance can help you as a small business owner, contact us. We would be happy to talk to you about the plans for your unique circumstances.

02/25/2022

Every day, you work hard to safeguard the health and wellbeing of your clients. But what about your business? Are you keeping risks and losses to a minimum?

As a professional in the professional services field, the proper insurance for your business is a necessity for protection from claims that may arise. Even if you are not at fault, an accusation could potentially damage your business reputation and operations. We can help.

Few understand the risks of the professional services industry like Hull Life Insurance Corporation. Proudly helping protect professionals across the GTA for more than 40 years, we can break it down and recommend the right coverage to protect your business, operations and personal life.

02/02/2022

When you run your own business, you take on big risks.

The biggest one could be the risk of a sudden illness or injury that forces you to close your business for some time, at best, or forces you to close it permanently, at worst.

Business continuation insurance can give you peace of mind and can also help ensure that your employees continue to receive their benefits in case of such a crisis.

Consider purchasing critical illness insurance for protection against a covered diagnosis that would otherwise wipe out your savings. Not only could this impact your personal finances, but since you own the business, it could deeply impact
the health of the company.

Talk to us today about how critical illness insurance could help protect you when you need it most.

01/26/2022

It's day today.

In recent years, the conversation surrounding mental health has increased dramatically. It is important to be able to openly discuss our mental health with others, to understand the different types of mental illnesses and how they can be treated, and to recognize that mental illness is just as serious as any other physical illness.

As a company that works in the financial side of the health world, it is important to bring attention to wellness and mental health in our industry and for our clients.

If you would like to contribute your own viewpoint, please leave a comment below.

01/21/2022

4 Insurance Trends for 2022: Focus on Technology, Customer Education & Dynamics

This article from CEO World points out that more self-employed people are expected to buy policies in 2022, which is a trend we have been seeing for the past couple of years.

As we move through the pandemic, it has become increasingly clear that the self-employed are often underserved by the insurance industry.

Check out the article via the link below. If you would like to learn how life insurance could benefit you and your business, contact us. We would be happy to help.

https://ceoworld.biz/2022/01/16/4-insurance-trends-for-2022-focus-on-technology-customer-education-dynamics/

As the world turns its focus on 2022, still emerging from the Covid pandemic after nearly two years, many industries continue to shift their business models and customer-related marketing strategies to remain profitable and stay in business. The life insurance industry is no different. Companies are...

01/19/2022

Do I Need Life Insurance if I'm Single?

The Motley Fool states that being single doesn't necessarily mean you don't need a life insurance policy. We couldn't agree more.

Check out this article for more details and if you have any questions about life insurance in Ontario, we'd be happy to help.

https://www.fool.com/the-ascent/insurance/life/articles/do-i-need-life-insurance-if-im-single/

When it comes to buying life insurance, your marital status shouldn't necessarily dictate that decision. Here's why you might want to buy a policy even if you're single.

01/17/2022

When it comes to planning for your financial future, many people find that speaking to a certified financial planner is the best way to get a handle on their finances. Some may turn to online insurance calculators for help; however, due to the unique circumstances with every policy, these calculators are often too general to be truly effective for calculating costs.

For those who wish to speak to an insurance specialist, working with an insurance advisor is preferable. At Hull Life, our dedicated team of advisors are best positions to work with you to find the best policy for your unique circumstances.

Your costs will vary depending on what you want to cover with the payout and what you can afford to pay. While the calculation is not complicated, it can be harder to map out all of these expenses to ensure you have adequate coverage.

Working with a professional advisor can ease the burden on this type of decision.

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01/17/2022

What life insurance provider is right for me?

The Montreal Times has a piece on the right life insurance providers for your needs. The article touches on key topics and answers some common questions about life insurance in Canada.

Questions include:

What policies are offered by the insurer?
What are the rates offered by the insurer?

https://mtltimes.ca/business/finance/what-life-insurance-provider-is-right-for-me/

If you have questions about life insurance in Ontario, let us answer them for you.

A life insurance policy is usually part of a larger family financial plan. When selecting an insurer, you'll want to consider the following

01/13/2022

Our patriarch and president, CEO David Hull working on the critical points of a client policy.

The son and grandson of industry legends, David Hull, is widely respected for his no-nonsense style, deep insurance knowledge, and unique way of doing business. Always genuinely interested in the welfare of his clients, he works dedicatedly with affluent entrepreneurs and business owners – helping them plan wisely and mitigate risk at each stage of their professional and personal lives. Since 1978, David has helped hundreds of families, professionals and business leaders secure their future with innovative life, disability and critical illness solutions to provide ultimate peace of mind.

David has been a member of MDRT for 40 years with 15 Top of the Table qualifications. He is also one of the founding members of CALU (Conference for the Advanced Life Underwriting). In his spare time, David enjoys fitness and spending time with his family, including his wife Marilyn, four children and three grandchildren.

David has been a member of MDRT for 40 years with 15 Top of the Table qualifications. He is also one of the founding members of CALU (Conference for the Advanced Life Underwriting). In his spare time, David enjoys fitness and spending time with his family, including his wife Marilyn, four children and three grandchildren.

While he isn't much for social media, Hull Life Insurance Corp wouldn't be the company it is today without him.

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