How to go about securing the best policy for your insurance in Canada.
Latest News
What getting a backyard fire pit will do to your home insurance + MORE Nov 23rd
Backyard fire pits, hot tubs, and other outdoor upgrades have never seemed more appealing than after spending most of 2020 practically housebound.
When Bob Peters, a 65-year-old lawyer from Winnipeg revamped his backyard five years ago—with an elevated deck, hot tub, seating area, natural gas .... More »
How much life insurance do I need? + MORE Mar 12th
Life insurance can be a tough task to face, but it’s pretty essential to ensure that your loved ones are looked after you die. Grief is difficult enough without having to deal with the stress of not being able to keep up with mortgage or car payments. But how much life insurance do you need? Here,.... More »
CMHC and Genworth Hike Mortgage Insurance Premiums By 15% + MORE Apr 8th
At the beginning of April, the Canada Mortgage and Housing Corporation (CMHC) announced that it was raising the premiums on mortgage loan insurance for buyers with less than 10 per cent for a down payment by approximately 15 per cent, effective June 1, 2015.
A few days later, Genworth, an alternati.... 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 »
When two people are on a condo title, who pays capital gains? Aug 27th
Q. I purchased a condo in Saskatchewan in 2001. I was young, and because I had a lower income than usual that year, my father co-signed for the mortgage. If I sell the condo with my dad on the title, will he be subject to the capital gains tax? And if so, can I get him off the title prior to a pote.... More »
Preparing for the inevitable
– canoe.ca
If you were to die today, would your spouse and other beneficiaries know where you keep all of your accounts? Would they know how the bills are paid and where the insurance policies are kept? Who is the executor of your will (if you have one) and does that person know who your financial adviser is? If you are not the member of your household who ha
Sticker shock often follows cancellation notice for those with individual health care policies
– canadianbusiness.com
MIAMI – Dean Griffin liked the health insurance he purchased for himself and his wife three years ago and thought he’d be able to keep the plan even after the federal Affordable Care Act took effect.
But the 64-year-old recently received a letter notifying him the plan was being cancelled because it didn’t cover certain benefits required under the law.
The Griffins, who live near Philadelphia, pay $770 monthly for their soon-to-be-terminated health care plan with a $2,500 deductible. The cheapest plan they found on their state insurance exchange was a so-called bronze plan charging a $1,275 monthly premium with deductibles totalling $12,700. It covers only providers in Pennsylvania, so the couple, who live near Delaware, won’t be able to see doctors they’ve used for more than a decade.
“We’re buying insurance that we will never use and can’t possibly ever benefit from. We’re basically passing on a benefit to other people who are not otherwise able to buy basic insurance,” said Griffin, who is retired from running an information technology company…
But the 64-year-old recently received a letter notifying him the plan was being cancelled because it didn’t cover certain benefits required under the law.
The Griffins, who live near Philadelphia, pay $770 monthly for their soon-to-be-terminated health care plan with a $2,500 deductible. The cheapest plan they found on their state insurance exchange was a so-called bronze plan charging a $1,275 monthly premium with deductibles totalling $12,700. It covers only providers in Pennsylvania, so the couple, who live near Delaware, won’t be able to see doctors they’ve used for more than a decade.
“We’re buying insurance that we will never use and can’t possibly ever benefit from. We’re basically passing on a benefit to other people who are not otherwise able to buy basic insurance,” said Griffin, who is retired from running an information technology company…
Car insurance relief in sight for young Ontario drivers
– thestar.com
A variation of a Quebec program aimed at young drivers may soon be available in Ontario by the spring cutting the cost of insurance for this high risk group.
