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Insurance

3 Big Fat Myths about Critical Illness Insurance

The current darling of the insurance world is critical illness insurance, insurance that pays a fixed amount if you develop one of the covered conditions such as heart attack, cancer, or stroke (*).   This seems like a great product for everyone but there are myths I want to bust today and we’ll get to the asterisk soon. I recently launched an online Canadian critical illness calculator that compares premiums, benefits and contractual clauses. To develop the quote calculator I had to read many policies in painful depth.   As a result of that ...
Insurance

How much is enough? Life insurance edition

How much is enough?  I think this question applies not only to retirement savings but life insurance as well.  I’ve read articles that say you need enough life insurance to replace ten years of your salary.  The argument here is that in case you die, your dependents can maintain their current lifestyle without you.  Then there are folks who write things like this: “I read your article about how much life insurance you own, and how you calculated the amount needed. My comment is this… “What’s your wife going to do when the ...
Life Insurance

Why mortgage insurance doesn’t work for everyone

You just bought your house – congratulations!  You can’t wait to move in and make your house a home. With all the excitement that comes with a new house, I’m afraid there’s a downside:  how on earth are you going to pay for this thing? If you’ve felt that sickening feeling like I have (and still do), I’m sure we’re not alone.  Although we have our health today it might not always be this way… What happens if you suddenly pass away and you still have a large mortgage?  What will happen to the home you worked so hard to make?  ...
Insurance

Insurance needs follow a lifecycle

Change, we all experience it, every day.  Change occurs in unlimited quantities, at home, at work and at play.  As investors, we often fight change.  We strive to make our investment portfolios rock-solid and secure, ready to fight any market climate but when you think about it a bit more, that’s actually not what happens.  Sure, the portfolio structure should be sound but it’s only good for a point in time; your investment strategy and financial plan should actually change over the years as you move from one life stage to the next.  Financial ...

Options for Real Estate Investment in Canada

The following is a guest post by Ratehouse.ca – Home of Canada’s Best Rates.   The global financial crisis has caused a significant decline in almost all industries. However, if you’re in Canada and your interest lies in real estate, then you’re in luck. The diversity of Canada’s regional economies has reasonably protected its real estate market from the financial crisis. As long as you know where to invest, you’ll realize that real estate investment is still very lucrative in Canada.  Of course, you need to realize as well ...

Cross Border Shopping – Did you forget something?

Last year, due to some changes to duty free limits more and more Canadians are border hopping for deals on everything from clothes to groceries to gas.  So, whether the reason is Black Friday or any seasonal deals, you like many Canadians may decide to head south for a quick trip to Buffalo or Washington state. Making sure you’re prepared, you put together a list: Your passport Some U.S. cash Maybe just enough gas in the car to make it to the first gas station across the border Did you forget anything? If you’re like many Canadians, you ...

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