How to go about securing the best policy for your insurance in Canada.
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How to qualify for EI benefits in retirement in Canada Feb 21st
Ask MoneySense
I’m a 75-year-old male, working part-time and contributing to EI every two weeks; and have for 10 years.
I do have CPP and OAS income.
Do I qualify to collect EI benefits for a period of time if I retire this year? I’ve paid contributions for 10 years and now plan to ret.... More »
Top financial innovations of the last 25 years Feb 29th
To mark MoneySense’s 25th anniversary, we dove into the top innovations that have changed personal finance since this magazine was founded in 1999. From new registered accounts and investment products to online services and developments in artificial intelligence, these are some of the biggest.... More »
How to Save on Life Insurance + MORE Feb 20th
The brokers here at Baker & Baker Benefits have been helping Canadians get life insurance for several years now, and we enjoy passing on our knowledge and experience to the Canadian public.
In keeping with this spirit, here are some insightful tips on how to save money when buying a Canadian lif.... More »
What you need to know before starting a home renovation Feb 8th
Q. I’m about to start a home renovation. What type of paperwork and contracts should I have with the contractor? And do I need any type of insurance in case anything goes wrong, or am I already covered under a home insurance policy?
–Sharon
A. These are all good questions, Sharon. Let’s start .... More »
What to do if you’re a victim of bank account or credit card fraud Jan 12th
Ask MoneySense
We have been defrauded of over $20,000 by someone who was able to make unauthorized e-transfers from our bank accounts. The bank has recovered a small portion of them, and it has refused responsibility for any more. I am at level three of the complaint process, and I am wondering how .... More »
Universal Life Insurance
– life-insurance-quotes.ca
Universal life insurance is a hybrid policy that combines certain elements of both term and whole life. Universal life coverage offers the consumer the benefits of a more conventional term life policy and can build up a cash value more quickly than traditional whole life. It also offers a less rigid structure than whole life coverage.Its cash value can be linked to shorter-term interest rates or a combination of other investment options. This offers the potential of a greater rate of return than that of a whole life policy, resulting in faster cash value growth.
Flexibility
It is important to remember that the flexibility of a universal life policy varies depending on the plan type and insurance company. However, one common requirement is that all universal plans must have minimum face values (premiums and death benefit).
With a universal life insurance policy, your premiums as well as your death benefit are flexible (within policy limits) and can be adjusted depending on your current situation…
