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Latest News
CPP payment dates this year, and more to know about the Canada Pension Plan Aug 4th
In Canada, no retirement plan is complete without considering the CPP. Whether you’re approaching retirement or still several years away from it, the Canada Pension Plan will likely play a role in your retirement income. How big a role depends on several factors. You may have other questions, too..... More »
TFSA contribution room calculator + MORE Mar 4th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
Tax-free savings account 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-tr.... More »
Compare high-risk auto insurance quotes for Ontario Feb 8th
The cost of auto insurance—which is required for drivers in Canada—can vary widely. Why? Because it’s all about risk. How risky your car is—is it prone to safety issues that could cause an accident? Is it a car-thief magnet? How risky your neighbourhood is—whether you live in an urban or r.... More »
Do affordable starter cars still exist? Jan 23rd
“There’s no such thing as a starter brand new car anymore,” said Michael Bettencourt, a longtime auto journalist and co-author of an upcoming book on buying an electric vehicle in Canada. He is also a father to a 17- and 20-year old—the latter of whom will be shopping for a car soon.
Wi.... More »
So you fell short of your financial goals in 2025—here’s how to do better Dec 27th
Did you fall behind on your financial goals for 2025? If so, you’re not alone. According to a survey by online estate planning platform Willful, 58% of Canadians reported postponing financial tasks they’d earmarked for the year, such as paying down debt, contributing to registered savings and in.... 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…
Retirement Health Benefits
– life-insurance-quotes.ca
For many Canadians retirement is a time of change and excitement. Some have travel plans, while others have things they want to accomplish at home.
One important aspect about retirement that sometimes goes unmentioned is the loss of employee benefits and healthcare. Oftentimes those who are retiring are 65 years old and have pre-existing health conditions along with prescription drug medications.
Another consideration at retirement age is provincial healthcare which (usually) covers things like prescription drugs and some vision care costs (OHIP covers eye exams at age 65 but does not cover glasses, contact lenses, etc.). It’s important to know that these provincial healthcare plans vary from province to province, but generally speaking seniors do get more coverage than non-seniors, especially when it comes to medications.
So, if retiring Canadians who have provincial healthcare plan coverage for their medications, what is the point of getting a private, individual health insurance plan?
Why Get a Retirement Group Conversion Health Plan?
Group conversion plans are specifically designed for people who have recently lost their group benefits coverage (which happens when retiring), and acceptance is guaranteed as long as you apply within a given time period after losing that group coverage (60 or 90 days are common)…
