There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
Latest News
Money and the price of indecision Jul 23rd
When we moved to Canada and bought our first car, insurance was simply another item on a very long checklist. I knew nothing about the Canadian insurance market, so I did what many newcomers do: lean on someone trustworthy. My father-in-law recommended the brokerage firm he had been using for years,.... More »
“How can I lower my auto insurance bill during COVID-19 lockdown?” + MORE May 3rd
On April 8, 2020, the Insurance Bureau of Canada released the following statement:
To help Canadians cope with the financial impact of COVID-19, the Insurance Bureau of Canada (IBC) member companies are offering substantial consumer relief measures. For consumers whose driving habits have changed si.... More »
Home insurance: Are you covered for wildfires, floods and other climate-related disasters? Sep 5th
As wildfires continue to burn in parts of Canada, we’re increasingly feeling the impacts of the climate emergency.
Canada is warming twice as fast as the rest of the world, according to a report by the federal government in 2019. The highest temperature increases are in the North, the Prairies.... More »
Becoming “Later In Life” Parents Feb 4th
Life Insurance Needs For Older Parents
In the past 25 years, there has been a growing trend to postpone parenthood until later in life. Many Canadians are choosing to focus on career, financial security, and other pursuits, before starting to raise a family.
For those who wait until later in life to.... More »
How to choose a financial advisor in Canada Mar 8th
Do you know what to look for when choosing a financial advisor? This person will be giving you advice on important things like insurance, money management and investing, so it’s worth taking the time to screen candidates carefully before you hire a financial advisor.
The terms “financial advi.... More »
Think You Have Sufficient Travel Insurance? Think Again
– ratesupermarket.ca
Despite the weak Canadian dollar, winter-weary snowbirds and March breakers are still heading south for vacation. If you’re one of these people, you probably understand that you need to pack more than just sunscreen for protection. Even if your travel budget is tight, spending a bit extra on travel insurance could save your family thousands in medical expenses related to illness, injury or death while beyond the border.
Step one in shopping for travel insurance is to check if you’re already covered in the first place. If you are a part of a group employee health plan, this likely includes some form of travel insurance. And most travel rewards credit cards offer travel and medical insurance as a cardholder perk. However, both of these options typically cover only accidents, not illness, and as for credit card insurance, your coverage is usually limited to travel costs that were paid for with that card.
So if you think you have sufficient travel insurance, it’s best to consider the following before heading out of town…
At what age should you stop paying for life insurance?
– moneysense.ca
Q: My mother is 97 years old, in excellent health and living independently in her own home. For a very lengthy period of time, she’s paid for a whole life insurance policy. The premium is $121, paid semi-annually. Does she really need to continue to pay premiums on this policy or can she cease paying and just leave the policy alone?
—Chris R., Waterloo, Ont.
A: She is 97? Fantastic! What is her secret? I want to meet her. And I want to be her. Wait. Sorry. You asked me the question. I’m afraid my answer requires you to follow up with your broker to understand some math.
Lorne Marr of LSM Insurance says you’ll need to call and find out, “if the annual dividend exceeds the annual premium and if so have them apply it to the premium.” The dividend fluctuates based on interest rates and the profitability of the insurance company. Marr goes on to say that, “if the annual dividend is not sufficient, she might be able to take the difference from the accumulated paid-up additions…
Employee Benefits vs Individual Health Insurance Plans
– healthquotes.ca/blog/
In this article we examine what the phrase “health insurance” actually means. We first highlight the difference between government-managed healthcare systems and private health insurance. We then compare and contrast the two types of health insurance available to Canadians: employee benefits and individual health insurance plans.
