All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
Video: Is tenant insurance mandatory? + MORE Nov 28th
Tenant insurance is good to have. If you’re a renter, it covers the cost of replacing your personal items after theft or damage. But coverage doesn’t stop there—tenant insurance also protects you in situations where you may be liable, such as accidental property damage or a personal injury.... More »
Tontines in Canada: Moving from theory to practice as a solution to our retirement crisis Sep 29th
For years in his academic papers and some of his 17 published books, famed Canadian finance professor Moshe Milevsky described the history and theory behind a seemingly obscure retirement/longevity insurance structure known as the “tontine.”
Milevsky, who works at the Schulich School of Busi.... More »
Canada’s best travel credit cards 2020 Nov 15th
With a good travel credit card in your name, going on a trip can suddenly become more affordable. And, you can get even more value if you sign up for the right travel credit card—one that doesn’t just focus on points, but also has perks such as lounge access, amazing insurance coverage and the f.... More »
A guide to mortgage calculators Jan 23rd
Owning a home can be a powerful wealth-building tool, but it can also be expensive when you account for the mortgage payment, property taxes, insurance, utilities and maintenance.
To get a clear picture of how a home purchase impacts your finances, you’ll need to determine what purchase price y.... More »
Does driving school lower insurance for Canadian drivers? Nov 16th
When you’re a new driver, insurance companies view you as being at higher risk of accidents than someone who’s been on the road for several decades. The risk of collision is highest within the first year a driver is on the road, and it decreases as drivers gain more experience. As a result, new .... More »
Severance, pensions and unemployment at 65: Should you apply for a pension if you get laid off?
– moneysense.ca
Q. I just got laid off because of restructuring, but I got a package from work that will have me getting paid until February 2021. I am 65 as of March 2020. I did not apply for my pensions yet. If I apply now will it be deducted from my unemployment in February? Should I wait to apply for a pension?
–Nancy
A. I am sorry to hear about your layoff, Nancy. Hopefully you were close to retiring. I know sometimes these packages are welcomed for those approaching retirement. But even if that’s the case, it can still be difficult for those not yet prepared to be retired.
It sounds like you are receiving salary continuance through to next February, with regular payroll deposits continuing until that time. Even if you received a lump-sum severance payment all at once, if it would otherwise replace your salary until February, you would not be able to apply for employment insurance (EI) until that time.
EI benefits are available to workers who lose their job through no fault of their own, including a layoff…
–Nancy
A. I am sorry to hear about your layoff, Nancy. Hopefully you were close to retiring. I know sometimes these packages are welcomed for those approaching retirement. But even if that’s the case, it can still be difficult for those not yet prepared to be retired.
It sounds like you are receiving salary continuance through to next February, with regular payroll deposits continuing until that time. Even if you received a lump-sum severance payment all at once, if it would otherwise replace your salary until February, you would not be able to apply for employment insurance (EI) until that time.
EI benefits are available to workers who lose their job through no fault of their own, including a layoff…
What COVID-19 Has Taught Us About Insurance & Preparedness
– life-insurance-quotes.ca
During these unprecedented times, we know that many of you may be feeling stressed, overwhelmed, and maybe even a little paranoid about the future. We also understand that due to COVID-19, your worldview may have changed when it comes to the stability of your job, health, and home.While Baker & Baker Benefits remains open for business, and we’re available to take your Group Benefits, Health and Life Insurance calls, we wanted to create an online resource to share what we’ve learned throughout this experience.
We hope these insights will help to empower you as you plan ahead for your future.
Learning From COVID-19
At Baker & Baker Benefits, we have seen first-hand how COVID-19 impacted our clients, their employees, and their families, and we have learned, very quickly, that insurance and other safety nets are more essential than ever before.
So, while we don’t want everyone to look to the future in complete fear of another pandemic or tragic event, we believe that looking ahead is a wise and commendable step to take forward…
