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
Is a vacation home a good investment? + MORE Sep 21st
The benefits of owning a vacation property are obvious. A cottage, cabin, condo or trailer a short drive from your home can provide a quick weekend recharge. A property down south can serve as a regular vacation destination or a winter home for a snowbird.
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Amazon, Buffett and JPMorgan join forces on health care Jan 30th
Three of corporate America’s heaviest hitters _ Amazon, Warren Buffett and JPMorgan Chase _ sent a shudder through the health industry Tuesday when they announced plans to jointly create a company to provide their employees with high-quality, affordable care.
The announcement was short on deta.... More »
Ontario Auto Insurance Rates Drop Up to 8% Jan 19th
Canadian commuters may be in the throes of the winter driving blues, but Ontarians have fresh reason to smile: auto insurance rates have been cut again, with discounts of up to 8 per cent available from providers across the province.
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BMO Ascend World Elite Mastercard review 2022 May 11th
If you’re itching to travel again, BMO has a card designed to help you get there. With an attractive insurance package and perks like airport lounge access, the BMO Ascend World Elite Mastercard seeks to tempt users into the BMO Rewards program. But here’s the big question: Is the card good enou.... More »
CPP payment dates in 2026, and more to know about the Canada Pension Plan Jan 4th
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Play it safe and ask if your savings are protected
– moneysense.ca
All of us expect our savings to be safe when we deposit them at the bank. However, although it’s rare, banks and other financial institutions in Canada can fail, so you might want to make sure your savings are protected. The next time you visit your branch or meet with your financial advisor, ask about deposit insurance. It’s free and automatic to depositors at Canada Deposit Insurance Corporation (CDIC) member institutions.
CDIC is the federal Crown corporation that protects the savings of Canadians in the event their bank fails. If you have an eligible account held in Canadian dollars at a CDIC member institution, you are automatically protected up to $100,000.
Some important facts about CDIC
You don’t need to sign up—Deposit insurance is automatic for eligible deposits in Canadian dollars at CDIC member institutions.
You don’t have to pay—Member institutions pay for deposit insurance through annual premiums.
How it works
Whether you are new to the workforce or planning for retirement, it’s important to know how CDIC works so you can make informed decisions when managing your savings…
