How to go about securing the best policy for your insurance in Canada.
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Crazy Celebrity Insurance Policies (2nd Edition) Apr 17th
Welcome to this 2nd edition of "Crazy Celebrity Insurance Policies". Whether it's Tom Jone's chest hair or Jimmy Durante's "nose" for success, be prepared to say to yourself "that's crazy"! One thing is for sure: the average person could not afford these premiums..... More »
Tontines in Canada: Moving from theory to practice as a solution to our retirement crisis Sep 29th
For years in his academic papers and some of his 17 published books, famed Canadian finance professor Moshe Milevsky described the history and theory behind a seemingly obscure retirement/longevity insurance structure known as the “tontine.”
Milevsky, who works at the Schulich School of Busi.... More »
Future of Car Insurance: How the PC Win Will Affect Rates in Ontario Jun 20th
Now that the election is over, it’s unclear how newly-appointed Premier Doug Ford will tackle rising auto insurance rates in Ontario.
Over the course of the 2018 provincial elections, both the Liberal and NDP party touched on plans to tackle rising auto insurance rates in Ontario – a hot topic .... More »
Two goals, one miss in the customer-service game: Roseman + MORE Nov 3rd
We help customers get money back on soccer shoes and a bank promotion. But we can’t help reverse an insurance decision..... More »
Novartis wins US OK for biosimilar version of Amgen’s Enbrel Aug 30th
U.S. regulators have approved the first near-copy of Enbrel, drugmaker Amgen’s pricey biologic medicine for treating rheumatoid arthritis and other immune system disorders.
The follow-up version of Enbrel, dubbed Erelzi, was developed by Swiss drug giant Novartis, which would not disclose the .... More »
Can I get fired on purpose to collect employment insurance?
– moneysense.ca
(iStock)Q: I want to ask my boss to lay me off so I can go on E.I. Any tips?
—Wanting Out, Vancouver
A: “To successfully approach your employer about getting terminated so you can go on Employment Insurance, the stars really need to align,” says Sabatina Vassalli, an employment lawyer with Agro Zaffiro in Hamilton, Ont. It only works if your employer is already looking to reduce its workforce, wants to terminate people without cause and is being forthcoming about it. In this case you could volunteer to be downsized. Otherwise, just remember that terminating an employee costs the employer, at minimum, termination pay under the Employment Standards Act. So if they catch wind that you want or need to leave, they could be inclined to simply wait until you quit, in which case you’re not entitled to E.I. Worse, if you purposely try to get laid off, you could be outright fired with cause and you wouldn’t be entitled to anything.
Got a delicate money question? Send it to ask@moneysense…
Personal finance editor Adam Mayers has been testing a tracking device that rewards good driving with insurance discount. The tradeoff may be hard for many people.Don’t cancel that insurance policy yet!
– moneysense.ca
(iStock)Think twice about scrapping or trading in an existing disability or critical illness insurance policy, warns financial planner Rona Birenbaum. You could wind up tens of thousands of dollars poorer. One of Birenbaum’s clients was persuaded by an insurance agent to switch a critical illness policy for long-term care coverage. What the client didn’t realize is that she was eight years into a plan that offered a return of all premiums paid if no claims were made after a decade. Had the client paid the $1,640 annual premiums for two more years, she would have walked away with $16,400. Always ask your agent or insurance company to email you a summary explaining the repercussions of cancelling a policy.
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