Canadians Life Insurance Ownership by year-end 2014:
■Individual life insurance $2,472 billion
■Group life insurance 1,723 billion
■Total life insurance $4,195 billion
■Almost 22 million Canadians owned life insurance for the future financial security of their families.
■ Average amounts owned were $193,700 for insured individuals and $381,000 for insured households
Source (CLHIA) 2015 edition
New CPP and OAS benefit amounts take effect:
"CPP benefits will increase by 1.2% for those already receiving the benefits. For 2016, the maximum CPP retirement benefit for new recipients age 65 will be $1,092.50 per month, an increase of $330 for the year compared to the maximum in 2015.
OAS benefits, which consist of the basic OAS pension, the Guaranteed Income Supplement (GIS) and the Allowances, will increase by 0.1% for the first quarter of 2016 (January to March). As of January 1, 2016, the basic OAS pension will increase from $569.95 to $570.52 per month." READ MORE
Source © Copyright 2016 Rogers Media Inc. Originally published on benefitscanada.com
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