Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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Mortgages Lead Credit Growth as Delinquency Rates Decline
– canadianmortgagetrends.com
Mortgage credit grew in the fourth quarter of 2020 as Canadian consumers took steps to reduce all other forms of debt, according to new data from TransUnion. The credit agency’s Q4 Industry Insights Report showed mortgage credit grew 5.6% year-over-year, while the average balance of mortgage loans outstanding rose 5.7% to $292,863. Meanwhile, new originations of unsecured credit were mostly down sharply, led by personal lines of credit (-36.9%), followed by credit cards (-35.4%), personal loans (-18%) and auto loans […]
Which type of life insurance is best?
– moneysense.ca
A little bit of knowledge can make a daunting task a whole lot easier to start—and that’s certainly true when it comes to life insurance. It’s a subject most people know little about until they actually decide to buy a policy, so we’re here to offer a little guidance on choosing the one that makes sense for you and your family.
What do I need to know about life insurance?
Life insurance is a contract with a life insurance company in which you commit to paying monthly or annual premiums (either for a finite period or until you eventually die, depending on the policy); in return they’ll provide a tax-free lump sum to your beneficiaries if and when you pass away while the policy is in effect.
There’s some variation in the type and level of coverage you can get; which policy is right for you depends on your financial situation (taking into account income, debts, mortgage and other such obligations) and your beneficiaries’ needs (like childcare and education fees and day-to-day living expenses)…
What do I need to know about life insurance?
Life insurance is a contract with a life insurance company in which you commit to paying monthly or annual premiums (either for a finite period or until you eventually die, depending on the policy); in return they’ll provide a tax-free lump sum to your beneficiaries if and when you pass away while the policy is in effect.
There’s some variation in the type and level of coverage you can get; which policy is right for you depends on your financial situation (taking into account income, debts, mortgage and other such obligations) and your beneficiaries’ needs (like childcare and education fees and day-to-day living expenses)…
Bank of Canada Still Sees Low Rates Until 2023; Financial Markets Disagree
– canadianmortgagetrends.com
The Bank of Canada delivered welcome news for variable-rate mortgage holders today when it stood by its expectation of no rate hikes until early 2023. “We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved,” reads the BoC statement released following its rate decision. “In the Bank’s January projection, this does not happen until into 2023.” In its decision, the Bank […]
Do I really need life insurance?
– moneysense.ca
Life insurance shouldn’t be one of those things you put off thinking about—because you (and the people who depend upon you) could need it at any time. But many do wonder if it’s worth the monthly premiums. But what about you, how do you know if it’s necessary for you? And why do we need life insurance anyway? Let’s find out.
“In general, life insurance is most necessary when you have dependents who would be impacted financially by your death,” says Lorne Marr, the founder of LSM Insurance, an insurance brokerage in Markham, Ont. “Typically, life insurance is used as a way to pay off a large debt, such as a mortgage on a home that you want to leave to your heirs.” But technically, you do not need life insurance. It’s not required by law in Canada, like car insurance.
Compare personalized quotes from some of Canada’s top life insurance providers*
Why you may need life insurance
If you have a spouse and kids, ask yourself this question: What do you want to happen to them when you’re gone? Chances are, you want them to continue living the same lifestyle—the last thing anyone wants is to think of their loved one’s dealing with financial uncertainty, or having to move when they’ve just lost you…
“In general, life insurance is most necessary when you have dependents who would be impacted financially by your death,” says Lorne Marr, the founder of LSM Insurance, an insurance brokerage in Markham, Ont. “Typically, life insurance is used as a way to pay off a large debt, such as a mortgage on a home that you want to leave to your heirs.” But technically, you do not need life insurance. It’s not required by law in Canada, like car insurance.
Compare personalized quotes from some of Canada’s top life insurance providers*
Why you may need life insurance
If you have a spouse and kids, ask yourself this question: What do you want to happen to them when you’re gone? Chances are, you want them to continue living the same lifestyle—the last thing anyone wants is to think of their loved one’s dealing with financial uncertainty, or having to move when they’ve just lost you…
How much life insurance do I need?
– moneysense.ca
Life insurance can be a tough task to face, but it’s pretty essential to ensure that your loved ones are looked after you die. Grief is difficult enough without having to deal with the stress of not being able to keep up with mortgage or car payments. But how much life insurance do you need? Here, we cover the different factors you need to take into account so you can arrive at an amount that gives you peace of mind.
What does life insurance cover?
Life insurance covers death. What the payout looks like depends on your insurance policy. And the amount of the premiums you pay depends, of course, on the amount and type of coverage you get as well as your personal details (like age, gender and health).
As far as coverage goes, your life insurance policy guarantees a pre-determined tax-free payout to your survivors if you die while the policy is valid. In exchange, you pay the insurer monthly or annual premiums, usually for the duration of the policy.
Your broker or insurance provider can help you determine the types of coverage you need, from funeral costs to outstanding debt…
What does life insurance cover?
Life insurance covers death. What the payout looks like depends on your insurance policy. And the amount of the premiums you pay depends, of course, on the amount and type of coverage you get as well as your personal details (like age, gender and health).
As far as coverage goes, your life insurance policy guarantees a pre-determined tax-free payout to your survivors if you die while the policy is valid. In exchange, you pay the insurer monthly or annual premiums, usually for the duration of the policy.
Your broker or insurance provider can help you determine the types of coverage you need, from funeral costs to outstanding debt…
