Welcome!

Agile Computing Authors: Elizabeth White, Rishi Bhargava, Liz McMillan, Pat Romanski, Xenia von Wedel

News Feed Item

REPEAT/BMO Study: Three-Quarters of Canadians Have Some Form of Life Insurance, But Most Not Confident with Their Level of Coverage

- Seventy per cent of Canadians are not fully confident with their amount of life insurance coverage

TORONTO, ONTARIO -- (Marketwired) -- 07/19/14 -- BMO Insurance today released a study revealing that while 74 per cent of Canadians have life insurance either through coverage they have bought themselves or through work, 70 per cent are not fully confident that their life insurance policy will provide enough money to take care of loved ones in the case of death.

Further, the study revealed that 88 per cent of Canadians are not very familiar with the different types of life insurance options available to them. This finding could play a role in the low levels of confidence that Canadians feel towards their amount of life insurance coverage.

"Learning about the various kinds of life insurance and choosing which is best for you and your family can be a challenge," said Rocco Casullo, Head, Direct to Consumer Insurance, BMO Insurance. "While there are many choices available, it's critical that you take the time to learn what is out there and go through your options step by step. Canadians need to make sure that they are well protected with life insurance coverage that suits their specific needs."

Mr. Casullo noted that there is no magic number for the dollar amount of life insurance coverage needed. There are many factors that determine this, including age, family status, health, level of debt and income. For those who are unsure of the amount they need, it is important to start with the basics. For instance, BMO Insurance offers a variety of easy-to-use online resources to help customers understand coverage levels and product options specific to their situation. For those who would like a bit more help, convenient over-the-phone guidance and sales support from a Licensed Insurance Advisor is available.

It's never too early

When asked when they think is the 'right time' to buy life insurance, 63 per cent of respondents stated that the best time to buy is as soon as one can afford it, to take advantage of low premium rates.

The study also examined the top reasons why Canadians get life insurance:


--  They do not want to burden their family financially after death (53 per
    cent) 
--  They have a sense of responsibility to buy it (49 per cent) 
--  They were told by family and/or friends that they should have it (16 per
    cent)

"We can't control unexpected life events, but we can control if we have developed a plan," said Mr. Casullo. "BMO Insurance offers an array of affordable coverage options to fit your needs. We have suitable coverage for everyone, from new parents who want to protect their growing family to retirees looking for that added sense of security."

How to choose the policy that's right for you

Mr. Casullo provided the following insights to Canadians who are considering purchasing a life insurance policy:


--  Understand your options: Take the time to learn and understand the types
    of insurance available. 
--  Work within your comfort zone: Whether buying online or with the help of
    an Advisor, there is no shortage of resources and purchase options
    available.  
--  Know what is important to you: Insurance is not only about making sure
    that you have enough coverage to take care of financial commitments, it
    is also about ensuring that the plans you made for the future are still
    achievable. 

Regional Breakdown


----------------------------------------------------------------------------
Region                                                        % who think it
                             % who are not    % who are not   is best to buy
             % who have a   confident with    very familiar   life insurance
           life insurance          current    with types of    as soon as it
                   policy         coverage   life insurance    is affordable
----------------------------------------------------------------------------
National               74               70               88               63
----------------------------------------------------------------------------
Atlantic               72               63               90               72
----------------------------------------------------------------------------
Quebec                 85               72               94               69
----------------------------------------------------------------------------
Ontario                71               66               85               63
----------------------------------------------------------------------------
Prairies               84               64               82               57
----------------------------------------------------------------------------
Alberta                70               77               85               61
----------------------------------------------------------------------------
B.C.                   62               74               95               55
----------------------------------------------------------------------------

For more information on BMO Life Insurance: www.bmo.com/insurance/life-insurance.

Get the latest BMO press releases via Twitter by following @BMOmedia.

The BMO Life Insurance Survey was conducted by Pollara between July 2nd and 4th, 2014, with an online sample of 1,005 adult Canadians. Data has been weighted using the latest Canadian census information to be representative in terms of age, gender and region.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization based in North America. The bank offers a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. BMO Financial Group had total assets of $582 billion and more than 45,500 employees at April 30, 2014.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...