BREAKING: Ontario Car Insurance Rates Decrease + MORE Oct 18th

How to go about securing the best policy for your insurance in Canada.
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 commercial insurance

ObamaCare's Hotel California Sep 4th

Democrats work to ban an affordable health insurance option..... More »

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 »
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Mercedes-Benz starts subscription pilot from $1,095 a month Jun 12th

Subscribers can choose any vehicle within their tier with no mileage limitations, and a monthly fee covers insurance, vehicle maintenance and 24-hour roadside assistance..... More »

Founder of Chinese company with billions in B.C. assets gets 18 years for fraud May 11th

Anbang Insurance Group's extensive B.C. holdings — including Vancouver's Bentall Centre and the largest retirement and care home company in the province — is now controlled by the Chinese government..... More »
 home owners insurance

Credit Card Review – SimplyCash Card from American Express Apr 17th

Among the ever-popular lineup of cash back credit cards, American Express offers two competitive daily spending-focused options. The SimplyCash™ Cards from American Express come with an intro bonus and rewards structure that rivals market leaders, but with a few key differences (think greater fle.... More »
Is it safe to have $600,000 in savings invested in GICs?
Q. I live in Manitoba and have about $600,000 invested in GICs at a local credit union. I am 63 years old, retired with a pension, no debt and no mortgage. However, I still worry about this money and it has been hard for me to find an unbiased view on its safety. Can you help?
—Glenda W.
A. I think you can relax, Glenda. Your money is safe. Credit unions in your province have the Deposit Guarantee Corporation of Manitoba which provides unlimited guarantee of all deposits. GIC’s are covered, but not stocks or mutual funds. If you were with a Canadian bank, your deposits would be covered by CDIC insurance, which protects accounts up to $100,000.
Your investment personality is risk-averse, which is totally fine. But there is one risk that you may not be factoring into your assessment: Inflation risk. Prices for food, gas and almost everything else are on the rise, but your GIC probably isn’t earning much to account for that.
RELATED: The safe, unloved, amazing GIC
You are in the enviable position of no debt, no mortgage and a pension, mitigating your risk significantly…

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TORONTO — Canada’s banking regulator has published the final changes to its guidelines for residential mortgage underwriting, including a financial stress test for buyers who don’t need mortgage insurance.
The Office of the Superintendent of Financial Institutions said Tuesday the changes will come into force by Jan. 1, 2018.
READ: Should you use RRSPs to pay down the mortgage?
Even homebuyers who don’t require mortgage insurance because they have a down payment of 20 per cent or more will have to prove they can continue to make payments if interest rates rise.
Other changes include restrictions on co-lending, or bundled mortgages, aimed at ensuring financial institutions do not circumvent rules that limit how much they can lend.
The final guidelines are generally similar to what OSFI had proposed in July, when the regulator put out a draft for public consultation.
The proposed changes, however, have been criticized for including potentially increasing costs and limiting access to mortgages for some home buyers…

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BREAKING: Ontario Car Insurance Rates Decrease
Here at, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have decreased by 0.1 per cent on average.
Car insurance rates fluctuate based on a number of different factors. However, before an insurance company can change rates, it must first be approved by the Financial Services Commission of Ontario (a regulatory agency of the Ministry of Finance).
FSCO publishes approved rate changes quarterly, and the latest results are in:
In the third quarter of 2017, approved rates from auto insurance companies decreased by 0.1 per cent on average – not a huge increase, but notable.
The range of approved rates seemed to be significant, with some companies lowering their rates by as much as 8.9 per cent, and another inflating its rates by 5.9 per cent on average.
“Ontario has a very competitive marketplace,” FSCO said in its quarterly statement…

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Am I entitled to my half-brother’s estate?
Q: My half-brother has no will. He has a step-sister. Am I entitled to my half-brother’s estate? We have the same father out of wedlock.
– John
A: You say your half-brother has no will, but you did not mention if he is still alive. If he has passed without a will, his estate is considered intestate. Intestacy means that his estate is distributed by government estate distribution rules. These rules specify who controls and shares in his estate.
You must refer to the particular intestate rules where your brother resided. This determines the intestacy rules that apply. You may be able to find them online. Depending on the statutory rules you likely have a right to inherit. You have a closer legal relationship than a stepsister.
Bear in mind that an intestate estate may not include designated or jointly owned assets with rights of survivorship. Your brother could have designated his step-sister as a beneficiary of his life insurance or investments. He may own jointly owned property with his stepsister…

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