Rising rates are good news for near-retirees seeking longevity insurance + MORE Jul 3rd

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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Should you transfer property to a child and then rent it from them? Jul 27th

I would like to know if transferring our home into our daughter’s name—can we stay and pay rent and get a rental home credit? Is it valid?—Satyesh Tax credits when renting property from a family member There is a lot to unpack with your question, Satyesh, but I will address your direct q.... More »

Cisco’s Fast Future Innovation Awards is Accelerating Canadian Innovation, Returning for 2022 + MORE Sep 13th

An innovative idea is like a ripple in an ocean: given the right push, it can become a tidal wave. That’s something Mathieu Lachaîne, the Chief Technology Officer of Montreal-based smart-building-technology firm Sentiom knows firsthand. Sentiom developed a cutting-edge AI-driven monitoring-and.... More »

Do I really need life insurance? + MORE Jul 31st

Life insurance shouldn’t be one of those things you put off thinking about—because you (and the people who depend on you) could need it at any time. But many do wonder if it’s worth the monthly premiums. How do you know if it’s necessary? Why do we need life insurance anyway? “In gener.... More »

Do you have to split your estate evenly between your children? Aug 24th

A will is intended to outline your final wishes. But, sometimes an estate can be contested, and the courts can overturn the terms of a will and distribute the assets differently.  A good example is that of Pascuzzi v. Pascuzzi, a case recently heard by the Supreme Court of British Columbia. .... More »

5 reasons to buy life insurance—right now Aug 20th

If you’re working to improve your financial situation, a few strategies may come to mind: paying down debt, building an emergency fund, investing inside a tax-free savings account (TFSA) or a registered retirement savings plan (RRSP), or putting your money in other savings vehicles. These are all .... More »
For years, low interest rates have been a boon to borrowers but a curse to older investors wanting low-risk interest income options. Now, after a decade of minuscule rates, interest rates are starting to inch back up again: another 0.5% as of June 1st. That’s good for GIC investors (guaranteed investment certificates), as we covered in my recent column on the alleged “death” of bonds.

This is also welcome news for retirees seeking so-called “longevity insurance,” even if it’s probable that the same forces at work are also depressing stock prices. In other words, the time may be fast approaching when near-retirees and full retirees start to consider annuities.

Are fixed annuities a safe investment?

I’ve written about annuities from time to time over this low-interest journey, but it never got to the point for me to pull the trigger personally and buy life annuities. It’s generally a bad time to annuitize when interest rates are low. And it’s worse in periods of high inflation…

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How much is home insurance?

– moneysense.ca

Home insurance is a type of coverage that protects your home and its contents from damage or loss. By paying a monthly or annual premium, you are assured that both the interior and exterior of your home—typically a person’s most important and expensive investment—will be covered by your insurance company against certain insured losses or damages.

Although home insurance is not mandatory by law in Canada, many lenders will require proof of insurance at the time of signing or renewing your mortgage. You may wish you could forgo this expense, but the truth is having home insurance protects you from having to dole out a large amount of money all at once, especially when it’s unexpected. If you’re looking to get insured, you should review and compare home insurance quotes from different insurers. 

Get personalized quotes from Canada’s top home insurance providers.Home insuranceRenters insuranceCondo insuranceYou will be leaving MoneySense. Just close the tab to return.

How much does home insurance cost?

The average cost of home insurance in Canada is $960 per year (equal to $80 per month), according to Ratehub…

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