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How to win using annuities in retirement + MORE Nov 11th
The good news is most of us can expect to live longer. The bad news is that the decline of defined-benefit pensions, along with chronically low interest rates, makes it harder for us to avoid outliving our money.
For those without workplace defined-benefit pensions, annuities can offset that risk b.... More »
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 »
Money and the price of indecision Jul 23rd
When we moved to Canada and bought our first car, insurance was simply another item on a very long checklist. I knew nothing about the Canadian insurance market, so I did what many newcomers do: lean on someone trustworthy. My father-in-law recommended the brokerage firm he had been using for years,.... More »
Before You Sail Off: Independent vs Cruise Line Insurance for Protecting Your Trip Jun 20th
Booking a cruise comes with a few crucial decisions. How long you want to be at sea, which ports you’d like to visit, whether you’d like an adventure-filled experience or you simply want to relax in the sun; these are a few of the choices you’ll make as you design your trip.
While.... More »
What is an Annuity? + MORE Dec 5th
The shift by employers from traditional defined-benefit pension plans, which typically guarantee income for life, to ‘over-to-you’ defined-contribution arrangements, has put more responsibility on employees for making their savings last through an unknown number of retirement years.
Lacking the.... More »
How Smartphone Telematics Apps Can Improve Your Driving
– ratesupermarket.ca
Usage-based or ‘pay how you drive’ insurance could fundamentally alter the auto insurance business in Canada, industry experts predict.
By combining a GPS system with on-board diagnostics, it’s possible to record exactly where a car is and what’s happening with it, providing auto insurance carriers an opportunity to attract and reward good drivers.
The next challenge is providing a way for drivers to review – and learn from – this gathered data, and so insurance companies are slowly embracing mobile app technology as an option.
Tracking Driving Habits Via Smartphones
Many insurers are concerned, however, with the security of smartphones and worry about the potential for hackers to alter the apps used to collect data. If the point of UBI is to get a more accurate picture of policyholders, then underwriters want to ensure that they’re getting the most accurate data possible.
When designing a smartphone policy, insurers have two principal concerns. The first is the driver, since they will never be able to completely control how he or she uses the app…
By combining a GPS system with on-board diagnostics, it’s possible to record exactly where a car is and what’s happening with it, providing auto insurance carriers an opportunity to attract and reward good drivers.
The next challenge is providing a way for drivers to review – and learn from – this gathered data, and so insurance companies are slowly embracing mobile app technology as an option.
Tracking Driving Habits Via Smartphones
Many insurers are concerned, however, with the security of smartphones and worry about the potential for hackers to alter the apps used to collect data. If the point of UBI is to get a more accurate picture of policyholders, then underwriters want to ensure that they’re getting the most accurate data possible.
When designing a smartphone policy, insurers have two principal concerns. The first is the driver, since they will never be able to completely control how he or she uses the app…
Medicine Hat NewsTSX rises on hopes for good news in US reportsTheChronicleHerald.caTORONTO — The Toronto stock market closed higher Friday as investors pinned their hopes on economic data and second-quarter earnings coming out next week that could provide reassurance about the pace of the U.S. economic recovery. The S&P/TSX …The close: Banks, insurers push TSX higherThe Globe and MailCanadian stock advances amid sluggish economic dataShanghai Daily (subscription)TSX climbs, led by bank and insurance stocksbnn.caall 69 news articles »
Credit Card Review: American Express Gold Rewards Charge Card
– ratesupermarket.ca
Calling all jetsetters – looking for some of the most competitive travel perks? Turns out, one of the market’s largest sign up bonuses and comprehensive roundup of perks comes not from a travel rewards credit card – but a charge card.
The American Express Gold Rewards Charge Card boasts the chance to fly long-haul with its 25,000-first purchase bonus. It also offers great travel insurance coverage and premium security features such as purchase protection and buyer’s assistance. As well, being an American Express offering, cardholders will have access to their Entertainment Access features suite, including Front of the Line and Reserved Seating perks.
Click here to learn more about this card>
However, charge cards are not for everyone. They require serious discipline and the ability to pay the balance in full each month – misuse can lead to a deep debt trap. Read on to see if this card is a good fit for your wallet.
How Is a Charge Card Different From a Credit Card?
While charge cards are similar in many ways to their credit counterparts, the glaring difference is how debt is accrued; a regular credit card allows users to carry their balances forward indefinitely, known as revolving debt…
Regulators take over small bank in Oklahoma; Brings US bank failures to 12 in 2014
– canadianbusiness.com
WASHINGTON – Regulators have closed a lender in Oklahoma, bringing U.S. bank failures this year to 12 after 24 closures in all of 2013.
The Federal Deposit Insurance Corp. said Friday that it has taken over Freedom State Bank, based in Freedom, Oklahoma.
The bank, which operated one branch, had about $22.8 million in assets and $20.9 million in deposits.
Alva State Bank & Trust Co. agreed to pay the FDIC a premium of 1 per cent to assume all the deposits of Freedom State Bank. It also agreed to buy roughly $17.7 million of the failed bank’s assets.
The failure of Freedom State Bank is expected to cost the deposit insurance fund $5.8 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
The Federal Deposit Insurance Corp. said Friday that it has taken over Freedom State Bank, based in Freedom, Oklahoma.
The bank, which operated one branch, had about $22.8 million in assets and $20.9 million in deposits.
Alva State Bank & Trust Co. agreed to pay the FDIC a premium of 1 per cent to assume all the deposits of Freedom State Bank. It also agreed to buy roughly $17.7 million of the failed bank’s assets.
The failure of Freedom State Bank is expected to cost the deposit insurance fund $5.8 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
