There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
Latest News
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Net income rose to $5.16-billion (U.S.), or $3,143 per share
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What’s my RRSP contribution limit? Feb 12th
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How to make the most of your compensation Jun 20th
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Pump Up Your Policy
– ratesupermarket.ca
Do you have enough insurance? Most Canadians would like to think so – but in our recent social media poll, only 34.8% of respondents were confident with their coverage. Life insurance is like an airbag – you really hope you won’t ever have to use it other than to provide peace of mind to your loved ones. But unplanned disability or illness can derail even the best laid plans.
This week. we’ve answered some of your most pressing insurance questions. Read on for the full story.
What Should You Do When Your Insurer is Acquired?
A proposed $4-billion deal for insurance giant Manulife Financial to acquire competitor Standard Life would help the insurer expand its core business and grab a larger share of the Quebec market. But what would an acquisition mean for Standard Life insurance customers? Will they see their coverage change, and options decrease?
Read Gordon’s Blog | What Should You Do When Your Insurer is Acquired?
What Are Insurance Riders? Do You Need Them?
Disability and critical insurance can seem complicated – not only must you choose the right level of coverage, but you also have the option of adding an insurance rider to your policy; as with home insurance, many life insurance policies come with riders…
This week. we’ve answered some of your most pressing insurance questions. Read on for the full story.
What Should You Do When Your Insurer is Acquired?
A proposed $4-billion deal for insurance giant Manulife Financial to acquire competitor Standard Life would help the insurer expand its core business and grab a larger share of the Quebec market. But what would an acquisition mean for Standard Life insurance customers? Will they see their coverage change, and options decrease?
Read Gordon’s Blog | What Should You Do When Your Insurer is Acquired?
What Are Insurance Riders? Do You Need Them?
Disability and critical insurance can seem complicated – not only must you choose the right level of coverage, but you also have the option of adding an insurance rider to your policy; as with home insurance, many life insurance policies come with riders…
What are Insurance Riders? Do You Need Them?
– ratesupermarket.ca
Disability and critical insurance can seem complicated – not only must you choose the right level of coverage, but you also have the option of adding an insurance rider to your policy; as with home insurance, many life insurance policies come with riders. But what exactly is an insurance rider, and how do they work? And what should policy holders be aware of when adding one to their coverage?
What is an Insurance Rider?
An insurance rider is optional coverage you can add to your policy. “An insurance rider is really enhanced coverage or benefit to the policy holder for a cost above the base plan,” says Brian Poncelet, an independent certified financial planner (CFP) and owner of RightInsurance.ca. “You’ll pay additional premiums for additional coverage.”
While the purpose of purchasing an insurance rider is to provide additional coverage, it’s important to be aware that some exclusions still apply that can void your future coverage. “Policy holders may have exclusions at the time of underwriting,” says Poncelet, who adds that, for example, having pre-existing back problems at the time of application for a disability policy can result in no payment down the road if disability is the result of a back injury…
