How to Save on Life Insurance + MORE Feb 20th

How to go about securing the best policy for your insurance in Canada.

Latest News

Do retirees need life insurance? Mar 4th

Ask MoneySense My wife and I are both retired office workers from a large manufacturing firm. She retired at 60 and I did at 61. We are both 67 now. We have good retirement income between our pensions, LIF, OAS and max CCP, as well as about $12,000 per year in dividend income. The issue is our RRSP.... More »

What is tenant insurance? Oct 3rd

Tenant insurance, also known as renter’s 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 you conside.... More »

The best travel insurance credit cards in Canada for 2025 Jan 11th

Many Canadian credit cards come with built-in travel insurance benefits, such as emergency medical coverage, trip cancellation protection and flight delay compensation, which can save travellers from unexpected out-of-pocket expenses. Our list of the best travel insurance credit cards come with thes.... More »

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 »

Canada’s home insurance under pressure as extreme weather costs rise Feb 21st

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Frequently Asked Questions About RRSPs

– ratesupermarket.ca

A Registered Retirement Savings Plan (RRSP) is a useful financial tool to help Canadians save for their future. Many Canadians will open an account through their bank, a credit union, trust, insurance company, or may contribute to an RRSP through their employer and their chosen financial institution. Yet, there is still a lot of confusion around RRSPs and how they work. Some may even confuse their RRSP with a TFSA. Without a proper understanding of the financial products, account holders may lose out on the benefits they offer.
To clear things up, we’ve listed answers to fundamental RRSP questions so you can get the most out of your investment.
RRSP Questions

When can you start contributing to an RRSP?
Is there more than one type of RRSP?
What is an RRSP deduction limit?
What is the RRSP contribution room for 2020?
What if you over contribute to your RRSP?
Can you transfer your RRSP?
How do you make an RRSP withdrawal?

When Can You Start Contributing to an RRSP?
Canadians can start contributing to an RRSP as soon as they generate some contribution room…

Continue Reading On ratesupermarket.ca »

How to Save on Life Insurance

– life-insurance-quotes.ca

The brokers here at Baker & Baker Benefits have been helping Canadians get life insurance for several years now, and we enjoy passing on our knowledge and experience to the Canadian public.
In keeping with this spirit, here are some insightful tips on how to save money when buying a Canadian life insurance plan.

Tip #1: Consider Annual Premiums vs Monthly Premiums
When buying a life insurance policy there are two payment options available: annual and monthly premiums.
Annual premiums are paid once a year. This payment option does not appeal to everyone and depends on the financial situation of the applicant. However, paying an annual premium can save you a substantial amount of money, and in fact can save you almost one month’s premium. Of course, the lower the premiums the less money will be saved using an annual payment method.
Tip #2: Get a Term Life Plan with the Right Term Length
The most popular type of life insurance is term life since it is much cheaper than permanent life insurance plans such as whole life or universal life…

Continue Reading On life-insurance-quotes.ca »

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