How to go about securing the best policy for your insurance in Canada.
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Lexus ES review: The best used small luxury car for 2023 + MORE Jul 3rd
Since 1992, the Lexus ES series has been a favourite of car buyers looking for a mix of excellent value and luxurious interior appointments. Parent company Toyota’s legendary reliability is an appreciated bonus. Those are among the reasons why the Lexus ES made my list of the 10 best used cars in .... More »
Do I really need life insurance? + MORE Jul 31st
Life insurance shouldn’t be one of those things you put off thinking about—because you (and the people who depend on you) could need it at any time. But many do wonder if it’s worth the monthly premiums. How do you know if it’s necessary? Why do we need life insurance anyway?
“In gener.... More »
Forget buy versus lease — new services let you 'subscribe' to having a car Jul 26th
Car subscriptions are kind of like a lease; but one monthly fee covers the cost of the vehicle, maintenance, insurance and repairs. You can swap cars and pause or cancel a subscription at any time. Could actually owning a car become a thing of the past?.... More »
Canada’s best credit cards 2020 + MORE Nov 27th
Finding the right credit card could save you hundreds, if not thousands, of dollars a year. Whether you’re looking for lower fees, more rewards or simply valuable perks like travel medical insurance or rental car savings, every dollar counts. If you use your credit card wisely, pay off your balanc.... More »
What getting a backyard fire pit will do to your home insurance + MORE Nov 23rd
Backyard fire pits, hot tubs, and other outdoor upgrades have never seemed more appealing than after spending most of 2020 practically housebound.
When Bob Peters, a 65-year-old lawyer from Winnipeg revamped his backyard five years ago—with an elevated deck, hot tub, seating area, natural gas .... More »
Does a 21-year-old need life insurance?
– moneysense.ca
Q: I am 21-years-old, studying full-time, working part-time, and I would like to know when is the “right” time to get life insurance and if I really need life insurance this young. I work in the banking services industry and I hear a lot of my customers discussing their insurance details with me and how I should get life insurance. But to be honest, I have no clue if I should get it all and if so, when should I purchase it?
—Brenda M.
A: The main reason for buying life insurance is to protect those who are financially dependent on you in the event you pass away. If you are 21 years old and have no dependents life insurance would not be a necessity. Having said that, there are many advantages to taking life insurance at a young age. You guarantee your insurability because life insurance rates are based on your age, gender, and health. So by taking a plan now, you can lock in at a lower premium rate for life. Here are some other reasons you may want to buy a term life insurance policy:
You have debt with a co-signer
If your parents signed off on your student loans, they’re responsible for paying off your debt if you die…
