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Choosing a Group Benefits Advisor Mar 28th
How Getting a Group Benefits Plan Works
A company that is looking for a benefits plan engages an advisor (e.g. a broker or agent) who then submits that company’s details to several insurance companies for a quote. (An experienced advisor will know which insurance companies are best suited for.... More »
How to qualify for EI benefits in retirement in Canada Feb 21st
Ask MoneySense
I’m a 75-year-old male, working part-time and contributing to EI every two weeks; and have for 10 years.
I do have CPP and OAS income.
Do I qualify to collect EI benefits for a period of time if I retire this year? I’ve paid contributions for 10 years and now plan to ret.... 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 »
The Complete Package: How Much are Benefits and Bonuses Really Worth? Jun 4th
If you’ve ever had to debate the pro’s and con’s of a new job offer, or renegotiate a contract, you know it’s not always easy to evaluate the worth of a potential compensation package. Benefits and bonuses add a lot of complexity to the process; it doesn’t always come down to salary dolla.... More »
What is short-term disability insurance? Sep 17th
Short-term disability (STD) insurance provides income for someone over a short period of time if they can’t work because they’re ill or injured, have been in an accident, or are in the hospital. STD insurance is often offered by employers as part of their workplace benefits package. It’s not .... More »
Are Fort McMurray homes insured for fire?
– moneysense.ca
(THE CANADIAN PRESS/ Mary Anne Sexsmith-Segato)Nothing is as traumatizing as losing your home. That’s what the residents of Fort McMurray, Alta., are having to deal with because of extreme wildfires that have destroyed their houses and caused a mass evacuation of more than 88,000 people. Of course, most homeowners likely had home insurance but what exactly does the policy cover? “Standard polices, which are the policies most average Canadians carry, all cover the rebuilding of the same-size home that was destroyed,” says Adam Mitchell of Mitchell and Whale Insurance Brokers in Whitby, Ont. That’s all.”
But rebuilding on their land in Fort McMurray may not be desirable to a lot of residents of the flame-engulfed community, who may not have jobs to go home to when the fires have cleared. Would standard home insurance policies cover them if they chose to rebuild their home somewhere else? “Unless it’s a higher value home policy, then no,” says Mitchell…
The damage costs from the fire ripping through Fort McMurray, Alta., could reach $9 billion for insurers if the entire town has to be rebuilt, an analyst at Bank of Montreal says.
