How to stake Cardano (ADA) in Canada + MORE Jun 12th

There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
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Meet the Advisors Who Are Expanding Wealth and Enhancing Legacy Planning + MORE Jun 16th

Established families and business leaders trust the boutique wealth advisory firm to multiply wealth and maximize estate value. Leveraging innovative and sophisticated financial strategies, they’re creating monumental financial impact.  Movsessian and Kachani speak about establishing the f.... More »

Your complete guide to getting the best car insurance in Canada Sep 13th

Auto Insurance Your complete guide to getting the best car insurance in Canada In under five minutes, get a personalized car insurance quote from one of Canada’s top providers—free of charge. Just tap the button to get started. Get a free quote.... More »
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How GreenShield+ Will Revolutionize Canada’s Health Care and Benefits Experience  Apr 14th

Imagine it’s a Monday morning and you’ve woken up with a fever and a pounding headache. Instead of waiting in line at a nearby walk-in clinic, you reach for your phone, open an app and connect with a doctor in a matter of minutes. Do you require medication? Imagine receiving a prescription in re.... More »

TFSA contribution room calculator Oct 15th

Find out your current tax-free savings account (TFSA) contribution limit by using this calculator. TFSA is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-traded funds&n.... More »

“I discovered water damage in my home. Will insurance cover me?” Sep 1st

My washing machine has been leaking for years, and we only just learned of the leak and the resulting damage because of staining on our basement ceiling below. Will my home insurance cover this? —Alison Does home insurance cover water damage? The end result of water damage to your home is a.... More »
No one likes to consider their own mortality, but having a plan is the best way to ensure the loved ones you leave behind are financially protected. Knowing your options when it comes to life insurance is an integral part of that planning process. Read on to learn what you need to know about whole life insurance, one of the most common types of life insurance.

Get personalized quotes from Canada’s top life insurance providers.All for free with Let’s get started.*Life Insurance QuotesTerm LifeWhole LifeThis will open a new tab. Just close the tab to return to MoneySense.

What is whole life insurance?

Whole life insurance provides coverage for life at a fixed premium, meaning your insurance payments never change. 

When you or the policy holder dies, the policy’s beneficiaries receive a tax-free death benefit—a lump sum payment (based on the amount of coverage you have chosen) that can be used to cover outstanding debt, tuition, mortgage payments or other expenses…

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Like other cryptocurrencies, ADA, the native coin of the Cardano blockchain, has been in a bear market since October 2021—meaning a recent pattern of price declines. Despite this downturn in crypto prices, Cardano seems to be a strong player among the public blockchains that offer smart contract functionality. (Smart contracts are automated digital agreements, written in code, for transactions between different parties.)

Because of a dedicated community of developers and supporters, ADA is regularly among the top 10 cryptocurrencies by market capitalization; as of June 2022, it’s the sixth-largest cryptocurrency, or the fourth-largest if you exclude stablecoins (cryptocurrencies whose value is pegged to the U.S. dollar).

Investors who hold this crypto coin have another route to potential gains: staking their ADA, which earns an estimated 4% to 6% annual percentage yield (APY) as a reward. It’s like putting money in a high-interest savings account and earning interest—except that staking rewards are not guaranteed, not paid in dollars and not protected by the Canada Deposit Insurance Corporation (CDIC)…

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