MORTGAGE 101: Understanding Different Mortgage Options + MORE Mar 28th

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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 auto insurance

Canada’s Best Travel Credit Cards 2019 May 23rd

With a good travel credit card, travel suddenly becomes affordable. And it helps if you sign up for the right travel credit card—one that doesn’t just focus on points, but also has perks like companion flights, amazing insurance coverage and flexibility with transferring points between cards. Wh.... More »
 home insurance

What is Wedding Insurance and Do I Need It? Jun 24th

If you’re shopping for wedding insurance, chances are the big day is quickly approaching. So, congrats! Planning your wedding can be a very busy time and there’s a lot of stress. You want your day to be perfect and you don’t want to worry about what could go wrong. What if the gown is dama.... More »
 insurance companies

Simplii, Tangerine, Motusbank – Who Are These “New” Players? + MORE Apr 25th

  You’ve seen those ads show up more and more the past few years: financial institutions who offer a new way of banking. But do those flashy logos hide something you already know? Many of these businesses are owned by traditional Canadian banks. The industry is tightly regulated, but you.... More »
 commercial insurance

Ontario Government Confirms OHIP Cuts for Travellers May 3rd

After a six-day consultation the Progressive Conservative-led Government in Ontario has confirmed it will cut the out-of-country coverage previously provided under the province’s health plan. The Ontario Health Insurance Plan currently provides up to $400 per day for out-of-country inpatient.... More »
 term insurance

3 rules for maximizing charitable donations in your will + MORE Apr 13th

Q. We are preparing our wills and have been advised that charitable donations are credited at 100% in the year of death, and can be used to reduce or eliminate the amount of tax owed for that year. How do we word this in our will so our executor understands our wishes, especially when they may not k.... More »
Sponsored: Can I Claim Insurance on My Taxes?
*Sponsored by TurboTax
With the 2019 tax deadline fast approaching many Canadians are focused on maximizing their tax return. The Canadian Revenue Agency (CRA) requires all private income tax returns to be filed , while self-employed have until June 17, 2019 to file.
If you do think you’ll owe taxes, however, or you may incur penalties.
For a full list of deductions you may be eligible to claim it’s important to seek financial advice, or use a tool like TurboTax.
TurboTax is a tax software that makes filing your taxes online easy, and is supported by real-life tax specialists who can step in to advise if needed. After signing up online, TurboTax can guide you through your entire 2019 return, prompting you with questions and advice at every step, to ensure you get the maximum refund.
One often overlooked deduction on anyone’s tax return is insurance. The list of insurance deductions for salaried individuals is very short. Individuals can often deduct private health insurance premiums on your tax returns, as well as any medical expenses…

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MORTGAGE 101: Understanding Different Mortgage Options
To new buyers, the real estate market can appear intimidating with jargon like amortization, mortgage insurance, fixed vs variable and so on.
Here are some of the key terms and mortgage types you’ll encounter when shopping for your home loan.
What is a Mortgage?
A mortgage is a loan offered by financial institutions to make the process of owning a real estate property feasible. Interest is charged on the Principal amount and each mortgage payment consists of repayment of the principal, plus some of the interest.
In Canada, potential home buyers pay at least five percent of the total cost of the house upfront.
Now let’s explore the different types of mortgages that the Canadian market holds:

High Ratio Mortgage: Refers to the loan to value ratio of the loan. If you pay less than 20 percent of the property cost as a down payment the loan has a high LVR. In this instance, it is mandatory to attain Mortgage Insurance, also referred to as CMHC (Canadian Mortgage and Housing Corporation) Insurance…

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China will sharply expand market access for foreign banks and securities and insurance companies, especially in its financial services sector, Premier Li Keqiang says, as senior U.S. officials arrived in Beijing for more trade talks.

Continue Reading On cbc.ca »

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