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’s your RRSP contribution limit? Feb 19th
If you’re like many Canadians, you’re hoping you’ve paid enough tax for 2016 and may even be looking forward to a hefty tax refund cheque. You can help ensure that happens by knowing the details of your Registered Retirement Savings Plan (RRSP), what sets them apart, your contribution limit a.... More »
What Brexit could mean for Canada Jun 27th
One of the few bright lights in the world economy just went out.
It took some time for the United Kingdom to get going again after the financial crisis. But through 2015, it was the only country in the Group of Seven’s rich industrialized nations to post economic growth in excess of two per cent f.... More »
Can life insurance be used as a fixed income investment? Dec 21st
Q. I am 55 years old, recently finished a four-year battle with cancer, and will be retiring soon. I have a healthy portfolio, consisting of 60% in blue-chip stocks and 40% in fixed income, which will look after my husband’s and my financial needs in the future. I also hold a $2-million life ins.... More »
Do we really need a will right now? + MORE Oct 22nd
In our April 2016 issue of MoneySense, we introduced you to Shannon Jarrett, 37, and her partner Marcin Duran, 34. They’re trying to track their money, come up with shared goals and cash in bad habits. Throughout the year we’ll be giving them a financial challenge every month to help them get he.... More »
Efforts to get young invincibles to sign up for health insurance ramp up-but are they working?
– canadianbusiness.com
MIAMI – The so-called “young invincibles” are so important to the success of the Affordable Care Act that supporters and detractors are spending millions to reach them with racy ads, social media campaigns and celebrity endorsements. The president is even (gasp) asking their mothers to help convince them to sign up for insurance.
The federal government and states running their own exchanges have launched marketing efforts for this crucial demographic of healthy young adults, but it’s unclear if the messages are getting through.
Eric Fisher, a 28-year-old from Salt Lake City, said he still hasn’t seen any of the social media campaigns — one of which targets Utah residents with images of people snowboarding and rock climbing.
He tried to sign up online when the federal marketplace first launched but couldn’t because of the long wait times and other website glitches. He said he’ll try again at some point. He added that the historic health care overhaul isn’t a topic he and his friends spend much time talking about…
The federal government and states running their own exchanges have launched marketing efforts for this crucial demographic of healthy young adults, but it’s unclear if the messages are getting through.
Eric Fisher, a 28-year-old from Salt Lake City, said he still hasn’t seen any of the social media campaigns — one of which targets Utah residents with images of people snowboarding and rock climbing.
He tried to sign up online when the federal marketplace first launched but couldn’t because of the long wait times and other website glitches. He said he’ll try again at some point. He added that the historic health care overhaul isn’t a topic he and his friends spend much time talking about…
OTTAWA – It’s not just the temperatures that are freezing on this first day of 2014.
The federal government says it’s freezing Employment Insurance premiums, and generally keeping taxes low.
But the Canadian Taxpayers’ Federation says the EI “rate freeze” will actually mean that premiums will go up slightly for some.
In its annual New Year’s Tax Changes report, the federation calculates that maximum employee EI rates will go up by $23 in 2014 to $914.
It says maximum EI premiums paid by employers will also rise by $31 to $1,279.
Overall, EI premium rates will remain at 2013 levels, at $1.88 per $100 of insurable earnings.
The federation adds that Canada Pension Plan premiums will be hiked by $140 for workers earning at least $52,500 per year.
But there will be bigger tax breaks for people who donate to charities for the first time.
They will receive a credit of 40 per cent of the first $200 they donate, rather than the normal 15 per cent credit.
The tax credit for donations over $200 is also rising, to 54 per cent for first time donors, rather than the previous 29 per cent…
The federal government says it’s freezing Employment Insurance premiums, and generally keeping taxes low.
But the Canadian Taxpayers’ Federation says the EI “rate freeze” will actually mean that premiums will go up slightly for some.
In its annual New Year’s Tax Changes report, the federation calculates that maximum employee EI rates will go up by $23 in 2014 to $914.
It says maximum EI premiums paid by employers will also rise by $31 to $1,279.
Overall, EI premium rates will remain at 2013 levels, at $1.88 per $100 of insurable earnings.
The federation adds that Canada Pension Plan premiums will be hiked by $140 for workers earning at least $52,500 per year.
But there will be bigger tax breaks for people who donate to charities for the first time.
They will receive a credit of 40 per cent of the first $200 they donate, rather than the normal 15 per cent credit.
The tax credit for donations over $200 is also rising, to 54 per cent for first time donors, rather than the previous 29 per cent…
2014 Home Insurance Costs Are Rising
– ratesupermarket.ca
You’re going to spend more on your home insurance costs in 2014.
That’s right – whether or not they’ve made any claims, Canadians can expect to be charged more for their coverage over the coming year. The hike is due in part to last year’s flood and storm disasters, as insurance companies ramp up premiums to cover costs. So, it only makes sense to take a second look at the policy you have – or might end up buying – before you commit.
What’s In Your Home Insurance Policy?
What’s covered depends on the type of home you live in. If you own a house, your property insurance will cover the house itself and detached structures like a fence or shed.
Your policy will also cover your personal belongings such as furniture, computers and artwork, providing you document their value. Some policies set a maximum they will pay to cover certain items including jewellery, tools, and bicycles.
In addition, your policy also includes something known as third-party liability coverage…
