As we navigate through life's unexpected turns, securing our financial future becomes increasingly critical. Disability insurance offers a safety net, providing income protection if we are unable to work due to illness or injury. Yet, many overlook a particular feature within these policies that can offer even greater peace of mind: the Future Increase [...]
What if I told you that luck isn't a matter of chance, but a product of preparation and seizing the right opportunities? In the world of insurance, we often talk about luck. Clients who have comprehensive coverage might consider themselves lucky, especially when others can't secure the same due to pre-existing health conditions. The [...]
Many young Canadians often overlook the importance of life and disability insurance, believing they are invincible and not at risk of becoming injured or ill. However, there are several compelling reasons to start thinking about these types of insurance when you're young and feeling on top of the world. In this blog, we'll discuss [...]
Don’t know where to get started? Here is some advice to help you. Are you recently married, purchased a home, or maybe had a child? These significant life changes are a great time to start thinking about protecting yourself, and your loved ones, from financial burden in difficult times. We know that shopping for [...]
We want to help you understand exactly how the RBC’s “Group / Association Offset amendment (A670)" works. In this example, you are eligible for and purchase $10,000 of coverage based on your income. However, you also have $5,000 of Group LTD already in place. Because of overlapping coverage, your individual policy is issued with [...]
Did you know that the EI Sickness Benefits payout recently increased from 15 weeks to 26 weeks? You may want to ask yourself how this recent change impacts your Group Disability Coverage. Ultimately, it’s up to the employer to decide how to proceed given the changes. What does EI Provide? 55% coverage to a [...]
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 [...]
Despite the sobering fact that one in three working-age Canadians will become disabled and unable to work before they turn 65, a shocking percentage of the population doesn't bother with disability insurance. And even those who do purchase disability insurance often settle for only a short term policy or simplified coverage through their mortgage insurance. [...]
