How to go about securing the best policy for your insurance in Canada.
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How to buy a car in Canada and get the best loan rate Nov 28th
You’ve read the car reviews, done the research and scoured for hours through literature on that car or truck, all while lining up pros, cons, rankings and specs against your budget and wants. You’ve shortlisted the contenders that you most want to press the gas on. That’s it: you’re buying a.... More »
No health insurance? Here’s how to keep dental costs from bankrupting you May 24th
Should you get dental health insurance? (Likely no) Can you haggle over prices with your dentist? (Yes!). The Star spoke to experts about strategies for keeping costs in check..... More »
Federal Equity-Split Program Begins Monday Sep 1st
The First-Time Home Buyer Incentive (FTHBI) will officially begin on Monday, September 2. The program was initially announced during the Federal Government’s budget launch in March. The down payment assistance program will be administered by the Canada Mortgage and Housing Corporation (CMHC), and.... More »
Life insurance companies no longer treating marijuana use as high risk as tobacco + MORE Jul 2nd
Some of Canada's biggest insurance companies have updated their policies on marijuana use. The changes have a major impact on regular users' premiums..... More »
MORTGAGE 101: Understanding Different Mortgage Options + MORE Mar 28th
To new buyers, the real estate market can appear intimidating with jargon like amortization, mortgage insurance, fixed vs variable and so on.
Here are some of the key terms and mortgage types you’ll encounter when shopping for your home loan.
What is a Mortgage?
A mortgage is a loan offered by fi.... More »
Does a 21-year-old need life insurance?
– moneysense.ca
Q: I am 21-years-old, studying full-time, working part-time, and I would like to know when is the “right” time to get life insurance and if I really need life insurance this young. I work in the banking services industry and I hear a lot of my customers discussing their insurance details with me and how I should get life insurance. But to be honest, I have no clue if I should get it all and if so, when should I purchase it?
—Brenda M.
A: The main reason for buying life insurance is to protect those who are financially dependent on you in the event you pass away. If you are 21 years old and have no dependents life insurance would not be a necessity. Having said that, there are many advantages to taking life insurance at a young age. You guarantee your insurability because life insurance rates are based on your age, gender, and health. So by taking a plan now, you can lock in at a lower premium rate for life. Here are some other reasons you may want to buy a term life insurance policy:
You have debt with a co-signer
If your parents signed off on your student loans, they’re responsible for paying off your debt if you die…
