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What to know about insurance claims after a flash flood Jul 19th
Canadian home owners are increasingly adding flood coverage to their insurance policies as extreme weather events become more common, according to the Insurance Bureau of Canada.
And after Tuesday’s intense bout of flash flooding in southern Ontario, some residents may be finding out the hard w.... 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 »
Choosing a Group Benefits Advisor Mar 28th
How Getting a Group Benefits Plan Works
A company that is looking for a benefits plan engages an advisor (e.g. a broker or agent) who then submits that company’s details to several insurance companies for a quote. (An experienced advisor will know which insurance companies are best suited for.... More »
TFSA contribution room calculator Aug 12th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
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Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like&nb.... More »
The best credit cards for seniors in Canada in 2024 Aug 28th
What are the best credit cards for seniors in Canada? That was a question we recently received from a reader, and while credit cards are more about an individual’s unique spending habits and the benefits they find most useful in a credit card than age, we still thought we could help. With this in .... More »
What is short-term disability insurance?
– moneysense.ca
Short-term disability (STD) insurance provides income for someone over a short period of time if they can’t work because they’re ill or injured, have been in an accident, or are in the hospital. STD insurance is often offered by employers as part of their workplace benefits package. It’s not the same thing as employment insurance (more on this below).
Many Canadians lack disability insurance coverage. In 2018, an RBC Insurance survey found that fewer than half of Canadians had disability insurance through their employee benefits. Among those who didn’t, 84% hadn’t purchased it privately, either. If you’re in this boat, you may want to explore your options. Hopefully you’ll never need to make a claim, but life happens—and not having disability insurance can put you and your family at great financial risk.
Short-term disability insurance from an employer
If you’re ill or injured and you do have coverage through your employer, you can make a short-term disability claim…
