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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Business Highlights + MORE Jan 27th
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After setting iPhone record, Apple forecasts rare sales drop
SAN FRANCISCO (AP) — Apple is bracing for its first sales decline in 13 years, despite selling a record 74.8 million iPhones in the final three months of 2015.
The giant tech company issued a sales forecast that says revenue could fa.... More »
Tontine: Retirement plan of the future? + MORE May 31st
(Andy Roberts/Getty Images)
Advances in life expectancy coupled with the decline of employer-sponsored defined benefit pension plans has greatly raised anxiety levels about seniors outliving their money.
Life annuities have long been touted as one possible remedy for prolonged longevity, which is wh.... 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 »
The biggest car insurance myths, according to experts Oct 31st
The auto insurance world is rife with misconceptions, experts say, and not knowing fact from fiction could end up costing drivers thousands of dollars.
There are several reasons why insurance myths exist, said Steven Harris, licensed insurance broker and LowestRates.ca expert. “(Insurance.... More »
Health & Wellness Programs Feb 28th
The Importance of Health & Wellness Programs
Life insurance is more than just a policy to cover you in times of death. Your insurance carrier wants you to be healthy, happy and productive. This is why most carriers are offering health and wellness programs, aimed at educating and supporting thei.... More »
We don’t charge you mortgage insurance: CMHC
– moneysense.ca
CMHC and Genworth don’t charge mortgage insurance fees. Your bank does. (Getty Images / Oxford)We recently got an email from a reader who was quite perturbed. He had saved his money was diligent about his budgeting, and was set to purchase a modestly priced home near Ottawa. But when he went to use the Canada Mortgage and Housing Corporation’s mortgage calculator to figure out his final costs, he was surprised to see an additional $2,500 tacked on to his mortgage. Here’s why:
Q: Every resource I’ve consulted says that a down-payment of 20% or more on a home waives any mortgage insurance premium that I would be required to pay if I were putting down less of a down-payment. However, when I use the CMHC mortgage affordability calculator, and enter a purchase price of $250,000 with a down-payment of $50,000 (20% of the home’s value), it gives me a mortgage insurance premium of $2,500 not $0. My question is why are home buyers told that a 20% or more down-payment is sufficient to avoid mortgage insurance fees, if that’s not the case? —Peeved with Premiums
Dear, Peeved with Premiums: You have a right to be concerned…
