Industrial Alliance Insurance & Why We Recommend Them to Our Clients
Industrial Alliance Insurance is one of my preferred carriers. They are terrific and I have sold a lot of policies for them.
One of the main messages I like to get across to people is that not all life insurance companies are created equal.
Checking potential life insurance quotes online may give you a broad idea of what you MIGHT pay….
…but the thing is you have to qualify for the rate you are looking at.
That’s why I am writing these reviews because each and every company has their own niche.
So let’s see why Industrial Alliance is one of my go to companies.
Remember Everyone is Different
We are all different. Some of us have families and debt, while others of us are business focused and are concerned about the future of our endeavours….
This is exactly why there is not such thing as a one size fits all sort of product or company when it comes to life insurance.
Life insurance is all about risk assessment. Traditional term and permanent policies require a medical exam because the insurer wants to know as much about you as possible.
It’s all a numbers game, because let’s face it life insurance is a business and they want to make cash. Knowing this puts you in the drivers seat.
If you do your homework, you will get the best possible coverage for your particular circumstances.
So does that mean Industrial Alliance Insurance?
Health is not the same for everyone. Not everyone has the same health goals. Not everyone experiences health the same way. Some people feel great and healthy with a higher BMI and others with a lower BMI (but still in the healthy weight range for both!)
Industrial Alliance Insurance rates are very competitive. They have great term rates and specifically, their Term to age 100 product is one of the best priced in the market.
This is important, especially for our more senior clients. Who wants to spend more money than you have to?
Also, along with RBC insurance, Industrial Alliance has the longest and most flexible term lengths. Depending on your age, you may be eligible for a term 40 policy. That means you lock in low rates for 40 years, guaranteed!
Looking For An Industrial Alliance Insurance Quote?
Wide Range of Life Insurance Products
Industrial Alliance is a power house. They are one of the 7 largest life insurance companies in Canada and as such have a great selection of products that include:
- Term Insurance
- Whole Life Insurance
- Universal Life Insurance
- Critical Illness Insurance
- No Medical Life Insurance
- Group Benefits
Please note, term life insurance works for most people most of the time. If you are looking for temporary protection to cover the potential loss of your salary this is the product most people purchase,
This is because term is affordable and flexible. The only real drawback is there’s no guarantee your beneficiaries receive a payout.
If you are looking for coverage for life, permanent insurance is the right choice for you. That said it’s substantially more expensive and complicated.
Industrial Life Insurance Has an Excellent Selection of No Medical Exam Products
So let’s say you are middle aged and have some medical issues. You aren’t on death’s doorstep by any means but you sure aren’t healthy.
Your fear of needles is getting in the way and you want coverage without a medical exam.
Well then Industrial Life Insurance may be just the company for you. They have a terrific selection of no medical life insurance products.
Now just a few words to the wise. Traditionally underwritten life insurance is less expensive if you are in moderate health. The insurer has more confidence in your coverage because they have a clear understanding of your health.
If it’s fear alone that is keeping you from getting traditional coverage my advice is to suck it up and take the medical exam. This decision can save you thousands over the course of your term.
Here are the no medical products you can choose from:
Industrial Alliance - Access Life Term Insurance
Have a history of medical issues? Then this is a product that may interest you.
15, 20 or 25 year term are available and you can give the needles and samples a miss altogether. Simply a few quick health questions for approval.
As I mentioned non-medical coverage is ALWAYS more expensive. In a nutshell you’re a higher risk which means elevated premiums.
Another consideration is no medical coverage often has lower face values. IA offers a maximum of $500K of protection for those up to 71 years of age.
Industrial Alliance - Access Life Plus (No Medical Life Insurance)
If you have more severe medical issues that may result in a decline through the traditional route this may be the right choice for you.
Answer some quick questions and you can get as little as $10,000 or as much as $500,000 of coverage!
This is also a great fit for seniors looking for a small final expense policy ($10K or more) to cover their burial.
Industrial Life Insurance Offers Lower Coverage Amounts
Not everyone is looking for the same amount of coverage. Some clients need over $1million, while others are looking to cover the bare basics for funeral costs.
If you are a senior and have medical issues and are looking for $10K – $20K in protection to take the burden off your family when you die, then Industrial Alliance Insurance is a great pick.
Coverage starts at $10k.
Attention Diabetics & Moderate Risk Applicants
Do you have well-managed diabetes or high blood pressure? Then IA may be the insurer for you.
Conditions like diabetes type 2 are often rated by other companies automatically. This is not the case with Industrial Alliance Insurance.
Depending on how well managed your diabetes is along with other factors, you stand an excellent chance of receiving standard rates. This means you will likely NOT be charged extra premiums.
Diabetic And Looking For An Industrial Alliance Insurance Quote?
Industrial Alliance Insurance Has a Strong History & Financial Roots
Industrial Alliance is over 125 years old. Founded in Quebec as Alliance Nationale and rebranded as iA Financial Group in 2015, this insurer is now publicly traded.
IA is a full-fledged financial services firm operating across all of Canada and the United States.
AM Best issued them a financial strength rating (FSR) of A+ (superior) to Industrial Alliance Insurance and Financial Services Inc. The also have a Long -Term Issuer Credit rating of “aa” which is Excellent.
So if you want a company that has a long history and is financially strong you can’t go wrong here.
Call Policy Architects TODAY!
Industrial Alliance Insurance is one of my top picks for all the reasons I listed above. They have a good selection of products that include some great no medical choices.
They are a solid company with a long history and are always competitive when it comes to their rates.
To top it off they are a bit more lenient when it comes to diabetes and other moderate health issues. If your condition is well managed you may not be rated. Which translated into serious savings for you.
Frankly, I sell a lot of their no medical whole life policies to seniors looking to help their families manage final expenses.
So if you think Industrial Alliance Insurance is for you, get in touch with Policy Architects Today!
Click the button below to get a free quote or schedule a call here.