Insurance policy getting you down? There are always sound insurance alternatives.
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What is tenant insurance? Feb 20th
Tenant insurance, also known as renters or contents insurance, is one of the costs of adulting that seems to have no payback. But the reality is that you likely can’t afford not to have tenant insurance. The cost of a policy (which can range from $15 to $30 a month) is a small price to pay when yo.... More »
Term vs. whole life insurance: Which type of policy is best? Jul 2nd
Term or whole life insurance? That is the question. But we have two more questions: What is the difference between these two types of policy? And which one is best for your needs?
Generally speaking, term life insurance is best for those seeking a low-cost, short-term solution. Whole life insuran.... More »
If my home is destroyed, will insurance cover its full replacement cost? Feb 20th
If you live in an area susceptible to flooding or other natural disasters, experts say, you should double-check that your insurance policy covers your home’s full replacement cost.... More »
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 »
Does driving school lower insurance for Canadian drivers? Nov 16th
When you’re a new driver, insurance companies view you as being at higher risk of accidents than someone who’s been on the road for several decades. The risk of collision is highest within the first year a driver is on the road, and it decreases as drivers gain more experience. As a result, new .... More »
4 Low Risk Alternatives to Chequing Accounts
– ratesupermarket.ca
Investments like stocks, mutual funds, or cryptocurrencies carry some level of risk which you might shy away from for a variety of reasons. Whether you’re saving for college, getting ready to buy a house, or nearing retirement, if you’re looking for safer investment options, here are some of the most common low-risk alternatives for Canadians.
Savings Accounts
While large, traditional banks may only offer minuscule interest rates, some high-yield savings accounts will pay you a reasonable rate of return. Newer, online-only banks offer savings accounts that pay as much as government bonds. Examples include EQ Bank, Motusbank, and Wealthsimple, which each pay at least a 2% annual interest.
High-interest savings accounts can be a great investment option because your cash is liquid—this means you can withdraw your funds whenever you chose without penalty. Plus, savings accounts are insured for up to $100,000 by the Canada Deposit Insurance Corporation, so you won’t lose your money if the financial institution fails…
