How to go about securing the best policy for your insurance in Canada.
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Is a personal injury settlement taxable, and can it impact OAS or GIS benefits? + MORE Aug 19th
Q. I received a small settlement for an Ontario car accident, which my lawyer says is non-taxable, and so noT4A will be issued. If I deposit the funds into a bank account, will this one-time settlement clawback my OAS and GIS benefits?
–J
A. I’m sorry to hear about your accident, J. Hopefully .... 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 »
Your ID was stolen, here’s what to expect + MORE Jan 7th
Your identity was stolen—what does that mean, and how might it impact you in the future? It’s a frustrating situation to be in, and you may have concerns about protecting your credit rating and preventing scammers from using your identity to commit fraud.
Unfortunately, identity theft is on t.... More »
Rising rates are good news for near-retirees seeking longevity insurance + MORE Jun 29th
For years, low interest rates have been a boon to borrowers but a curse to older investors wanting low-risk interest income options. Now, after a decade of minuscule rates, interest rates are starting to inch back up again: another 0.5% as of June 1st. That’s good for GIC investors (guaranteed inv.... More »
What type of insurance does a home-based business need? May 27th
Q. I am starting up a small business where I will manufacture, market and sell my own products online. I will use a room in my home as an office. What type of insurance do I need?
–Paul
A. Hi Paul. An insurance policy protects you against defined risks. Although I haven’t seen your home insuranc.... More »
CitiBank Cuts Travel Insurance On Credit Cards
– ratesupermarket.ca
Canadians with Citibank cards may enjoy the benefits that come with it, including travel and insurance perks. But as of September 22, 2019, Citibank has announced it is slashing those benefits – particularly the ones associated with travel.
The benefits that will no longer be honored are worldwide and domestic perks, include travel, baggage, and emergency benefits:
Travel
Citi Price Rewind
Trip cancellation and interruption insurance
Worldwide car rental insurance
Trip delay protection
90-day return protection
Missed event ticket protection
Baggage
Baggage delay protection
Lost baggage protection
Emergency
Worldwide travel accident insurance
Travel and emergency assistance
Roadside assistance dispatch service
Medical evacuation
These cuts to benefits could make it worthwhile to shop online for other cards to obtain travel benefits. While it remains unclear what spurred the change on Citibank’s end, some speculate their recent and expensive acquisition of a partnership with Costco has played a significant role in the decision…
