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Unlocking the Annuity Puzzle: Why Canadians avoid what seems to be the perfect retirement vehicle Dec 19th
The Annuity Puzzle is about a curious phenomenon in Canada: while life annuities sold by insurance companies seem to have all sorts of compelling reasons to acquire them, more often than not, retirees shun them.
Financial planner Robb Engen recently tackled this puzzle in his Boome.... More »
How Baker Tilly Toronto supports insurance providers in transition Oct 23rd
The insurance industry is constantly evolving, facing disruptions from technological advancements, intergenerational wealth transfers, market consolidation driven by private equity, and shifting regulations.
For professional advisors like Baker Tilly Toronto, staying current in this business land.... More »
Cost Management Strategies for Canadian Group Benefit Plans May 12th
The cost of providing comprehensive benefits continues to rise. Managing group benefits effectively is critical for employers in Canada. The need to find balance between offering appealing group insurance to employees and maintaining financial sustainability is not easy.
Here are some innovative co.... More »
Why your home insurance rates are rising May 23rd
(Photo illustration by C.J. Burton)
At first glance, James Arnold looks like an insurance company’s dream client. The Richmond, B.C., resident has owned his current home for almost two decades, been with the same insurance company for over 15 years, and in all those years he’s never made a claim.... More »
Hurricane Scalise Jul 22nd
A GOP leader wants to scuttle even minor flood insurance reform..... More »
INFOGRAPHIC: How To Cut Your Gas Bill By $100
– ratesupermarket.ca
Hitting the open highway for a cross-province road trip may not be as cost effective as frugal travelers think. Price gouging gas stations, sky high insurance premiums and unexpected vehicle wear and tear can put any vacationer’s wallet to work!
Looking to cut down on your car expenses? Check out our handy infographic, the latest edition to the RateSupermarket.ca Cost Of series. Whether you’re headed across the country, or just commuting nine to five, you can save with these on-the-road money management tips.
Pro tip: Paying for fuel is an ongoing expense. If you’re using plastic at the pump, make sure your credit card has competitive gas rewards or cash back. Our fave: The MBNA Smart Cash® MasterCard® Credit Card. Not only does this card earn up to 5% cash back on gas and groceries for the first six months (two per cent after that), but you’ll also score a FREE $100 gift card from RateSupermarket.ca if approved, until August 31. Save even more on your driving costs – compare to find the best car insurance premiums today!
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<!– How to Cut Your Gas Bill By $100 – RateSupermarket…
The July 8 flooding that resulted from a severe thunderstorm in the GTA region was the most expensive natural disaster in Ontario history, the Insurance Bureau of Canada says.
Summer Travel Study Saves Consumers A Hot $100 On Gas Costs
– ratesupermarket.ca
RateSupermarket.ca offers frugal fuel tips for on-the-road money management
August 14 – Toronto Ontario: Hitting the open highway for a cross-province road trip may not be as cost effective as frugal travelers think. Price gouging gas stations, sky high insurance premiums and unexpected vehicle wear and tear can put any vacationer’s wallet to work.
According to RateSupermarket.ca, Canada’s comprehensive rate comparison site, there are significant savings for drivers who take a savvy approach to their payments at the pump – $92.21 over the course of a year.
This savings strategy is illustrated, along with additional frugal fuel tips, within the site’s Cost of Gas study.
“As transportation accounts for over 20 per cent of the average annual household income*, our aim is to provide drivers with ways to minimize the financial impact of their everyday purchases at the pump,” said Penelope Graham, spokesperson for RateSupermarket.ca. “Consumers who are aware of their payment options have greater opportunity to save on their driving costs…
Intact Financial files prospectus to offer up to $3 billion in shares, debt
– canadianbusiness.com
TORONTO – Intact Financial has filed a shelf prospectus that will allow it to offer up to $3 billion in a combination of debt, preferred or common shares, warrants and the like over the next 25 years.
Intact also filed a supplement to its prospectus that would allow it to issue up to $850 million in medium-term notes.
The prospectus replaces one that was filed in July 2011 but has since expired.
The Toronto-based property and casualty insurer saw its net operating income fell 32 per cent to $123 million in the most recent quarter, largely due to storms and flooding in Alberta.
The company warned last month that it expected to take a hit in both the second and third quarter from claims related to the Alberta floods, the flash flood in Toronto and the Lac-Megantic train crash in Quebec in early July. It said it will be boosting premiums for home insurance products this fall in light of the increasing prevalence of weather-related catastrophes.
Shares of Intact Financial closed down 19 cents to $62…
Intact also filed a supplement to its prospectus that would allow it to issue up to $850 million in medium-term notes.
The prospectus replaces one that was filed in July 2011 but has since expired.
The Toronto-based property and casualty insurer saw its net operating income fell 32 per cent to $123 million in the most recent quarter, largely due to storms and flooding in Alberta.
The company warned last month that it expected to take a hit in both the second and third quarter from claims related to the Alberta floods, the flash flood in Toronto and the Lac-Megantic train crash in Quebec in early July. It said it will be boosting premiums for home insurance products this fall in light of the increasing prevalence of weather-related catastrophes.
Shares of Intact Financial closed down 19 cents to $62…
High interest savings accounts at discount brokers
– moneysense.ca
[Note: This post has been updated to note a couple of additions to high interest savings accounts offered by Scotia iTrade and BMO InvestorLine. Feel free to have it bookmarked.]
It turns out that Renaissance High Interest Savings Account (ATL5000) is not the only high interest savings account (HISA) available through a discount broker. HISAs are savings accounts that can be purchased in a discount brokerage account just like a mutual fund. These accounts typically pay much higher interest rate than money market funds and are ideal for parking cash in Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA) and investment accounts. Just like online HISAs, Canadian dollar discount broker HISAs are eligible for Canada Deposit Insurance Corporation (CDIC) insurance.
First a note of caution: first check with your broker that no fees of any kind are charged for buying or selling HISAs and no fees are applied for early redemptions. For example: Scotia iTrade charges an early redemption fee of 1 percent (minimum of $38…
It turns out that Renaissance High Interest Savings Account (ATL5000) is not the only high interest savings account (HISA) available through a discount broker. HISAs are savings accounts that can be purchased in a discount brokerage account just like a mutual fund. These accounts typically pay much higher interest rate than money market funds and are ideal for parking cash in Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA) and investment accounts. Just like online HISAs, Canadian dollar discount broker HISAs are eligible for Canada Deposit Insurance Corporation (CDIC) insurance.
First a note of caution: first check with your broker that no fees of any kind are charged for buying or selling HISAs and no fees are applied for early redemptions. For example: Scotia iTrade charges an early redemption fee of 1 percent (minimum of $38…
