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How Much Life Insurance is Enough? + MORE Mar 11th
A commonly asked question regarding life insurance is “how much life insurance is enough?”
Simply put: the amount of coverage needed depends on the amount of debt and income loss the plan has to cover. This is determined by the total assets that can be allocated subtracted from the amoun.... More »
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How GreenShield+ Will Revolutionize Canada’s Health Care and Benefits Experience Apr 14th
Imagine it’s a Monday morning and you’ve woken up with a fever and a pounding headache. Instead of waiting in line at a nearby walk-in clinic, you reach for your phone, open an app and connect with a doctor in a matter of minutes. Do you require medication? Imagine receiving a prescription in re.... More »
“A way to leapfrog”: AWS executive says regulated industries moving fastest on AI Jul 6th
As a wave of companies rush to embed artificial intelligence into their operations, Matt Wood has noticed the technology’s fastest adopters are businesses more typically described as slow to change.
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Watch: Home Insurance in Canada—what’s covered, what’s not, if premiums are rising and more + MORE Oct 11th
Planning your home insurance policy? Wondering if you should add on coverage to your existing coverage? Managing editor Lisa Hannam interviews Morgan Roberts, director of sales at RH Insurance, about what is covered with a typical home insurance policy and what’s not covered, as well as if premium.... More »
Manulife results hit by lower insurance sales, slower wealth management growth
– theglobeandmail.com
Insurer reported earnings per share after items of 59 cents; analysts had been looking for earnings of 58 cents a share
New mortgage rules sending borrowers to alternatives
– moneysense.ca
TORONTO — Mortgage brokers say the borrower rejection rate from large banks and traditional monoline mortgage lenders has gone up as much as 20 per cent after Canada’s banking regulator imposed a new stress test for home buyers who don’t need mortgage insurance.
As a result, alternative lenders are seeing an uptick in business as brokers increasingly direct home buyers toward borrowing options that are beyond the reach of the Office of the Superintendent of Financial Institutions’ newly enacted tighter lending requirements.
READ: Your mortgage is about to get more expensive
Clients who don’t meet the bar are turning to private lenders, mortgage investment corporations (MICs) and credit unions, which are provincially regulated and not required to implement the stress test, said Carmen Campagnaro, president of Pro Funds Mortgages in Burlington, Ont.
Campagnaro is one of the brokers who said rejected loan applications to traditional lenders have risen by 20 per cent since Jan…
As a result, alternative lenders are seeing an uptick in business as brokers increasingly direct home buyers toward borrowing options that are beyond the reach of the Office of the Superintendent of Financial Institutions’ newly enacted tighter lending requirements.
READ: Your mortgage is about to get more expensive
Clients who don’t meet the bar are turning to private lenders, mortgage investment corporations (MICs) and credit unions, which are provincially regulated and not required to implement the stress test, said Carmen Campagnaro, president of Pro Funds Mortgages in Burlington, Ont.
Campagnaro is one of the brokers who said rejected loan applications to traditional lenders have risen by 20 per cent since Jan…
