I had someone reach out to me wondering what the monthly cost is for Permanent Life Insurance for a healthy 35-year-old. They were thinking they preferred Permanent Insurance as opposed to Term. There are so many options when it comes to Permanent Life Insurance, and the cost can change substantially. There is Term 100, [...]
Be very careful when it comes to buying life insurance as an investment . . . if it looks too good to be true, it likely is! A broker can make a policy illustration look really good, potentially better than what you should actually expect. Unfortunately, based on this article, (Ontario’s insurance regulator orders [...]
A resolution is a firm decision to do or not to do something . . . which is often easier said than done. The New Year is an opportunity for us to implement some positive changes to better our lives, and the lives around us. We often make a promise to ourselves to do [...]
Have you ever had a financial/insurance advisor recommend using life insurance to save on taxes? Or you may have never heard of this option. Many people do not understand how this type of tax shelter works. While many are familiar with how Term Life Insurance may work, there is a different type of insurance [...]
I have heard people refer to buying insurance as gambling. The thought is, if we end up using it, we win, and the insurance company loses. If we never end up using it, we lose, and the insurance company wins. However, here is another way of looking at insurance . . . . . [...]
Preet Banerjee is a well-known Canadian personal finance and investing expert, and the author of the personal finance book Stop Over-Thinking Your Money!: The Five Simple Rules of Financial Success. Banerjee’s 5 Rules for Personal Finance Success are as follows: Disaster-proof your life. Expensive emergencies can derail you, so protect yourself with disability insurance, [...]
Mental illness affects 1 in 5 Canadians in their lifetime1. Recently, a Canadian Mental Health Association poll indicated that 24 percent of respondents have sought help for mental health challenges (that is 1 in 4 Canadians), this is up compared to polls completed over the past two years 2. So, it is no surprise [...]
Shopping for life insurance is unfortunately not as exciting as shopping for a new wardrobe. In fact, many find it downright daunting and confusing. However, this is not a reason to avoid, as it is important to keep your loved ones covered financially in case of death. Here we try to make the process [...]
Many parents rely solely on the life insurance provided through their employee benefits. This is very concerning to me as an advisor. Most Group Life plans offer minimal coverage, sometimes only $25,000. While this will cover final expenses, it wouldn’t be sufficient to replace one’s income for their family. The reality is that many [...]
After 15 years in the business, I have lost count of how many times a client told me that it was "required" to purchase life insurance with their mortgage - which is not the case, it is optional. Just the other day, my client thought they had to spend $400 a month on creditor [...]
