How to go about securing the best policy for your insurance in Canada.
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How to fix bad credit history in Canada: 3 steps to boost your score + MORE Oct 3rd
In Canada, your credit score matters—a lot. A solid credit score is more than just a number. It opens doors to financial products, saves you money and improves opportunities for renting, car insurance and employment.
Negative marks to your credit score can happen because of different factors yo.... More »
TFSA contribution room calculator Jan 11th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
TFSA 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 exchange-traded funds .... More »
CMHC tightens mortgage rules in latest response to COVID-19 + MORE Jun 12th
On June 4, 2020, the Canadian Mortgage and Housing Corporation (CMHC) announced changes to the eligibility rules for mortgage insurance, in the agency’s latest response to the COVID-19 pandemic.
The new rules will lower the amount of debt an applicant for an insured mortgage can carry, set a hig.... More »
Scotiabank Gold American Express review: How competitive are this travel card’s rewards? Dec 6th
With an outstanding earn rate, no foreign transaction fees and a better-than-average travel insurance package, the Scotiabank Gold American Express card has garnered a lot of attention from Canadian travellers and cross-border shoppers. But is Amex a strong enough brand in Canada? And is this card w.... More »
TFSA contribution room calculator Oct 15th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
TFSA 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 exchange-traded funds&n.... More »
Find a financial adviser you can trust
– moneysense.ca
Getty Images/Hero ImagesQ: You brought up a great point about trusting financial advisers in a past blog post. How do I find a good financial adviser that I can trust to give me sound advice and not just sell me things that may not be appropriate for my situation?—Val
A: You’ve asked a really loaded question, Val. I’m going to give you a no holds barred answer.
I have young kids. I’ve started to explain to them lately that most people are good people, but that there are bad guys out there. Superheroes and villains have helped to provide a good frame of kid reference.
The adult world is no different—in the financial industry or otherwise. But the bad guys in the financial industry aren’t necessarily bad people. The industry is simply geared towards promoting, in some cases, bad practices.
Most financial advisers sell products including specific investments and insurance. Some of those advisers are only licensed to sell certain types of products, so they can’t really tell you about better products if they are available…
Credit Card Review – SimplyCash Card from American Express
– ratesupermarket.ca
There’s a new player among the ever-popular cash back category, as American Express makes a competitive foray into the market with a daily spending-focused option. The SimplyCash comes with an intro bonus and rewards structure that rivals market leaders, but a few key differences (think greater flexibility and plusher perks) make it a unique option. Available in both a no-fee and Preferred version, consumers can choose between pure cash earnings, or pay a fee for additional features
Read on for our breakdown of both.
Card Details
NOTE: Only the Preferred version of the SimplyCash has an annual fee.
What’s Included With Both Cards?
Both cards offer a 5% cash back-earning Welcome Rate for the first six months
No cap on cash back earnings once Welcome Rate period expires
Includes Travel Accident and Car Rental insurance
Shopping Coverage with Buyer’s Assurance Protection Plan and Purchase Protection
Access to American Express Front Of the Line entertainment perks
American Express 24/7 helpline and Emergency Card Replacement
Fraud Protection Guarantee
Earning Rate: Good
During the Welcome Rate period, both iterations of the SimplyCash offer one of the highest reward earning rates on the market, and include insurance and customer service features not usually offered in the cash back category…
Why Travel Insurance Claims Are Denied
– ratesupermarket.ca
Most insurance policies end up being paid out to beneficiaries, largely because higher-risk applicants are either rejected up front, or at least assessed at a correspondingly higher rate. But for policies with a more limited shelf life, like travel insurance, there’s generally no investigation until a claim is submitted – and that’s where things can get complicated.
The problem is that applications that would have been declined in the first place aren’t discovered until it’s too late and the claim is denied – very bad news for those relying on their insurance coverage.
Also Read: How Much Travel Insurance Is Enough?>
Even Honest Mistakes Can Hurt
That’s what happened to North Bay senior Joanne Parr after she made what she maintains was ‘an honest mistake’ when answering a question on her application form about past treatments for other ailments.
Her insurance company found the discrepancy later, by combing through her medical records after the bills were submitted…
