Welcome!

Agile Computing Authors: Elizabeth White, Liz McMillan, Xenia von Wedel, Sanjay Zalavadia, Dana Gardner

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
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
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 imp...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, 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. Meanwhile, 94% of enterpri...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, 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 opportuni...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...