Insurance policy getting you down? There are always sound insurance alternatives.
Latest News
Best cash-alternative ETFs for Canadian investors 2026 Apr 30th
If the only investment account you have is a registered retirement savings plan (RRSP), you probably don’t need to concern yourself with cash or cash-equivalent holdings. But let’s say you’re in the market for your first home and you’re saving up a down payment. You can’t afford to lose mo.... More »
Money and the price of indecision Jul 23rd
When we moved to Canada and bought our first car, insurance was simply another item on a very long checklist. I knew nothing about the Canadian insurance market, so I did what many newcomers do: lean on someone trustworthy. My father-in-law recommended the brokerage firm he had been using for years,.... More »
Preparing taxes for someone who died Feb 9th
When you are managing the tax affairs of someone who has died, there are important steps to take to notify the Canada Revenue Agency (CRA), represent the deceased taxpayer, and finalize their tax filings.
Contacting the CRA
You should contact the government as soon as possible. This incl.... More »
BMO Ascend World Elite Mastercard review Dec 10th
The BMO Ascend World Elite Mastercard is just one card in BMO’s premium lineup. It offers a points-based rewards program through BMO Rewards, 5x the points on travel purchases, flexible redemption options, and usually a large welcome bonus. We’ll break it all down below so that you can decide if.... 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 »
Life insurance can protect your loved ones financially after you’re gone, but picking the right kind can protect your wallet even when you’re alive. Generally, there are two kinds of life insurance: term life insurance and permanent life insurance. Permanent life insurance provides lifelong coverage, which can come with tax benefits and dividends but has higher premiums. Term life insurance aims to provide income replacement when needed for a specific period of time and can be more affordable.
Your insurance choice depends on your long-term financial goals
Brooke Dean, founder of BMD Financial Ltd. at Raymond James, likens the two options to renting versus owning. “Term life insurance is like renting an apartment,” she said. Similar to renting, people pay for coverage for a set period of time. When the time is up—similar to a lease ending—the consumer walks away without any ownership or equity in the policy.
Permanent life insurance is like buying a house, Dean said…
