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Making sense of the markets this week: January 22, 2023 Jan 20th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines of the week and offers context for Canadian investors.
Are central banks smarter than we thought—or are they just lucky?
The world’s central banks faced plenty of critici.... More »
Compare high-risk auto insurance quotes for Ontario + MORE Feb 5th
The cost of auto insurance—which is required for drivers in Canada—can vary widely. Why? Because it’s all about risk. How risky your car is—is it prone to safety issues that could cause an accident? Is it a car-thief magnet? How risky your neighbourhood is—whether you live in an urban or r.... More »
The Crypto Crash Is Particularly Bad for Black Investors + MORE Nov 18th
After cryptocurrency values started crashing hard this year, headlines of people losing millions, their life savings or retirement funds flooded the news. When crypto bank Celsius Network filed for bankruptcy this summer its customers alone lost US$5 billion. Even digital-asset evangelists like Bina.... More »
Making sense of the markets this week: May 7, 2023 May 5th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
A big thanks to Diamond Hands Dale Roberts for so ably stepping in to cover the big market news over the last couple of weeks!
Powe.... More »
Ghost insurance brokers. Staged collisions. How do I spot and prevent auto insurance fraud? Mar 27th
Fraudulent schemes are pushing up premiums in Ontario and are also tricky for drivers to spot, according to a poll by the Financial Services Regulatory Authority..... More »
Is life insurance taxable in Canada?
– moneysense.ca
Life insurance is essentially buying peace of mind. You’re helping your loved ones deal with the financial impact of your death and hopefully mitigating some of the accompanying stress and emotional turmoil. But what happens after your loved ones receive their inheritance? Is life insurance taxable in Canada? Is the payout you’re leaving behind subject to income tax? The last thing you want to do is leave your loved ones with more confusion—that’s why you purchased the policy in the first place. Here’s what you need to know about life insurance and the tax implications it could have.
Compare personalized quotes from some of Canada’s top life insurance providers*
Is life insurance taxable in Canada?
Most of the money received from a life insurance policy is not subject to income tax. The death benefit paid from a life insurance policy is a tax-free, lump-sum amount for the beneficiary that can be used to finance a number of things. This includes paying off debts, including a mortgage, so your family can remain in the same home and community…
