How to go about securing the best policy for your insurance in Canada.
Making sense of the markets this week: April 2, 2023 Apr 2nd
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors. Freeland fires again at Canadian Banks There are several big-picture looks at the important aspects of the Canadian federal budget .... More »
How to calculate the taxable amount for a cashed-in whole life insurance policy + MORE Apr 18th
Ask MoneySense I cashed in my whole life insurance policy last year and received a T5 suggesting I have to pay tax on the full amount of my cash value. Is this correct? The cash surrender value was $27,000, I paid $28,000 in premiums, and they told me my pure cost of net insurance was $30,000, whate.... More »
How GreenShield+ Will Revolutionize Canada’s Health Care and Benefits Experience Apr 14th
Imagine it’s a Monday morning and you’ve woken up with a fever and a pounding headache. Instead of waiting in line at a nearby walk-in clinic, you reach for your phone, open an app and connect with a doctor in a matter of minutes. Do you require medication? Imagine receiving a prescription in re.... More »
No health insurance? Here’s how to keep dental costs from bankrupting you May 24th
Should you get dental health insurance? (Likely no) Can you haggle over prices with your dentist? (Yes!). The Star spoke to experts about strategies for keeping costs in check..... More »
What Does Silicon Valley Bank’s Collapse Mean for Canadians?
The collapse of Silicon Valley Bank, or SVB, earlier this month has been sending shockwaves throughout North America’s tech and banking industries. The lender, based in Santa Clara, Calif., had clients that included start-ups like HR and payment firm Rippling and major tech companies like Roku. It folded in March due to a bank run, making it the second-largest failure of a financial institution in U.S. history.
California regulators closed SVB on March 10 after the bank’s stock plummeted by 60 per cent in a single day, handing control over to the Federal Deposit Insurance Corporation (FDIC). The FDIC said all insured depositors will have full access to their funds, but the bank’s failure is causing anxiety north of the border with companies concerned that something similar could happen in Canada.
Here’s what you need to know about SVB’s collapse and what it means for Canada’s tech and banking sectors.
What caused SVB’s collapse?
The bank’s shutdown was triggered by a combination of rising interest rates, panicked clients and, reportedly, poor oversight and risky behaviour by the lender’s executive team…