How to Save on Life Insurance + MORE Feb 20th

How to go about securing the best policy for your insurance in Canada.
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What type of insurance does a home-based business need? May 27th

Q. I am starting up a small business where I will manufacture, market and sell my own products online. I will use a room in my home as an office. What type of insurance do I need? –Paul A. Hi Paul. An insurance policy protects you against defined risks. Although I haven’t seen your home insuranc.... More »
 insurance companies

Canada’s best travel credit cards 2020 + MORE May 15th

With a good travel credit card in your name, going on a trip can suddenly become affordable. And, you can get even more value if you sign up for the right travel credit card—one that doesn’t just focus on points, but also has perks such as lounge access, amazing insurance coverage and the flexib.... More »
 life insurance

Planning to buy your first home? Be ready to jump in when the post-pandemic market picks up Apr 17th

Closing costs, such as land transfer tax, lawyer fees and title insurance, have to be paid on top of the down payment when you take legal possession of your new home, and they add up fast..... More »
 car insurance

Need to cancel a trip due to COVID-19? Here’s how to get your money back Mar 15th

Most airlines and hotels are waiving cancellation fees, but collecting on travel insurance could be tough..... More »
Frequently Asked Questions About RRSPs
A Registered Retirement Savings Plan (RRSP) is a useful financial tool to help Canadians save for their future. Many Canadians will open an account through their bank, a credit union, trust, insurance company, or may contribute to an RRSP through their employer and their chosen financial institution. Yet, there is still a lot of confusion around RRSPs and how they work. Some may even confuse their RRSP with a TFSA. Without a proper understanding of the financial products, account holders may lose out on the benefits they offer.
To clear things up, we’ve listed answers to fundamental RRSP questions so you can get the most out of your investment.
RRSP Questions

When can you start contributing to an RRSP?
Is there more than one type of RRSP?
What is an RRSP deduction limit?
What is the RRSP contribution room for 2020?
What if you over contribute to your RRSP?
Can you transfer your RRSP?
How do you make an RRSP withdrawal?

When Can You Start Contributing to an RRSP?
Canadians can start contributing to an RRSP as soon as they generate some contribution room…

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How to Save on Life Insurance


How to Save on Life InsuranceThe brokers here at Baker & Baker Benefits have been helping Canadians get life insurance for several years now, and we enjoy passing on our knowledge and experience to the Canadian public.
In keeping with this spirit, here are some insightful tips on how to save money when buying a Canadian life insurance plan.

Tip #1: Consider Annual Premiums vs Monthly Premiums
When buying a life insurance policy there are two payment options available: annual and monthly premiums.
Annual premiums are paid once a year. This payment option does not appeal to everyone and depends on the financial situation of the applicant. However, paying an annual premium can save you a substantial amount of money, and in fact can save you almost one month’s premium. Of course, the lower the premiums the less money will be saved using an annual payment method.
Tip #2: Get a Term Life Plan with the Right Term Length
The most popular type of life insurance is term life since it is much cheaper than permanent life insurance plans such as whole life or universal life…

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