American Income Life: Credit Card Debt

 

10YRC: Credit Card Debt
For fillable Forms and training materials visit this link


*** 

Relevant Background: With an additional 10 year renewable and convertible policy to a base policy, a  face amount may be allocated to cover credit card debt (credit card debt protection). 

*** 

Relevant Material: As per data listed by Statistics Canada, Credit Cards alone were responsible for a total of $112,292,000,000 (2025, Credit liabilities of households (x 1,000,000)) Considering the population at the end of March at 41,548,787 people (2025, Canada's population estimates, first quarter 2025), this total equals to $2,702.65 (credit card debt) per person.


References: 

1.  1.    (2025, Aug 18). Credit liabilities of households (x 1,000,000). 

. Retrieved Aug 25, 2025, from https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901


2. (2025, June 18). Canada's population estimates, first quarter 2025. . Retrieved Aug 25, 2025, from

https://www150.statcan.gc.ca/n1/daily-quotidien/250618/dq250618a-eng.htm


** 

Comments

Post a Comment

Popular posts from this blog

American Income Life: Family Information Guide & No Cost Benefits

Image
***  For fillable Forms and training materials visit this  link *** Relevant Material: When you get in to a serious accident, wouldn't you agree that your family and your inner circle (such as friends, colleagues, neighbors) need to be notified right away?  *** Relevant Material: " No-Cost   Products American Income Life offers a variety of no-cost products to help provide valuable protection for you and your family..." (" View No-Cost Products from American Income Life", n.d.    )  ***  References  1. (n.d.).  View No-Cost Products from American Income Life . American Income Life Insurance Company. Retrieved June 29, 2025, from  https://www.ailife.com/products/nocostestimate ***  More Resources :  App:  https://deal-nexus-ptlb0142.replit.app/ App Support Site:  https://tekk-savvy.com Book:  https://www.amazon.com/dp/B08835PX1P  Skype ID: ptlb0142_1 Stock Broker Referral Link:  https://portal.ing...
Read more

American Income Life: Accidental Benefits

Image
  ***  For fillable Forms and training materials visit this  link ***  Accidental benefits include benefits for travelling via a common carrier and/or for any cause of death such as a pedestrian or accident at workplace. ICU, overnight hospital benefits and benefits to get the injury looked at are part of hospital benefits…covered by the hour power philosophy.  ***  Relevant Background : Along with the freedom of choice allocation, American Income life agents also request permission to allocate hourly wages each week (as part of the hour-power philosophy) for accidental benefits and pay cheque protection. Policyholders may also allocate their wages to accidental and pay cheque protection benefits via allocating a certain % of their income (Need Analysis Approach), monthly allocations, and dollar a day allocations. To activate these benefits, no  activation is required..as these benefits are part of a larger package such as through a union or employer. ...
Read more

American Income Life: Cash Surrender Value

Image
  ***  For fillable Forms and training materials visit this  link Relevant Background: Policyholders can withdraw money (cash surrender value) from their whole life policies to pay for obligations such as tax owing, property tax, credit card payments, unforeseen events etc.  ***  Relevant Material: " Homeowners pay property tax directly to their local government whereas renters pay through their rent. The tax due is typically calculated by multiplying the assessed value of the property by the tax rate—commonly referred to as 'mill rate' and expressed as dollars of tax per $1,000 of assessed value. Residential properties are usually taxed at lower rates than non-residential properties.    3     For example, in Ontario the residential rate is 85% of the non-residential rate ( Slack 2000 ;   OFTS 1993 ).  Property tax is one of the three main taxes paid by households. The other two are income tax and sales tax. Property tax differs i...
Read more