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But regulatory approval is still pending.
To err is human. Mistakes can be a valuable learning opportunity, and sometimes, the bigger the mistake, the bigger your lesson will be. Lucky for us, there are plenty of people out there who made huge personal finance mistakes in 2015, and we have the benefit of being able to sit back and learn from them.
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Too many Canadians overlook a critical aspect of their financial plan: life insurance. We know the number of households that own individual life insurance policies is falling, but the reality is that 33 per cent of families would be in immediate financial trouble if something were to happen to their primary breadwinner.
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The current process has all the hallmarks of other industries that have been severely disrupted: centrally controlled by a head office, highly regulated, lacking transparency, subject to byzantine rules, and a lot of process friction from start to finish. There is nothing close to "online," "real time" or "customizable" about it.
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I made the huge-ass mistake of packing a valuable item -- Luckily, theft was covered by my travel insurance. Or so I thought. The insurance representative regretfully informed me that although stolen baggage was covered, my claim wasn't eligible. It was a baffling and maddening situation, but one that got me thinking: what other insurance loopholes are lingering out there?
Buying a new home can be a daunting experience -- especially if it's your first time. One thing that banks love to do is tie mortgage insurance into your mortgage agreement, right along with a dangerous-looking checkbox you need to fill in if you choose to "recklessly" opt out. Here's why I want you walk into that mortgage broker's office, check that box, sign that line and opt out of it with total confidence.
Auto insurance premiums in Ontario rose slightly in the second quarter of 2015, despite the Liberal government's pledge to lower rates an average of 15 per cent by next month.
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Choosing insurance can be difficult, especially when you go it alone. A lot of people love to tackle projects by their lonesome, and taking on a new task unsupervised can lead to some small (and large...
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Many Canadians are well aware that a disability could occur at any time. Ninety-six per cent of us believe it, according to a recent RBC survey. The same survey showed that more than three-quarters of us also believe that missing three months of work, due to disability, would put us in serious financial jeopardy. Here are some steps you can take to prepare yourself for a possible disability.
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You pay the premiums every year, but if your home was damaged or destroyed, would you get the amount you're insured for? Not necessarily. Stuart and Annie Brown of Markham, Ont., are fighting t...
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Jane has good benefit coverage provided by her employer that provides some insurance for her and John. However, she thinks that John should consider some additional insurance because of his home-based business. So they spoke to an insurance expert about life and property coverage.
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The latest Commonwealth Study ranked Canada's health care system a dismal second to last in a list of eleven major industrialized countries. It is true that Canada's health system is fragmented and uncoordinated. Too often people fall through the cracks and we are miserable at managing patients with multiple illnesses. And too often our system feels unresponsive to the concerns of patients and their families.
Summer is synonymous with long lazy days, picnic lunches and road-trips. There's nothing better than driving with the windows rolled down and your favourite tunes blaring. And for a growing number of Canadians that means hitting the road in an RV.
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If you suffered a critical illness and if money were no object, I am sure all of us would spend every last dime we had to recover and get on with our lives. Sadly, most of us are not in such a position. Therefore, where would one get the money if there were no bottomless money pouch available? Here are some ways you can use critical illness insurance to fill a financial void.
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The intensity of tropical cyclones striking East Asia has sharply increased over the past 30 years and major cities and ports such as Shanghai in China could face a greater threat from more powerful storms in future, a study published on Thursday shows.
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This New Year as you make your resolutions, commit to making one that will get you healthy and fit -- financially. While setting personal resolutions have become second nature, the New Year should also be the time each of us sits down with family. Talk about what your financial goals are in 2014 and what you need to have in place to ensure that your family is protected and aware.
When someone becomes critically ill, it can become very difficult or next to impossible for them to do the day-to-day things they need to in order to run a successful business. However, all is not doom and gloom, there is a solution to this situation but it needs to be in place before someone becomes critically ill not after and it is called critical illness insurance.
Ontario is proposing a change to the Ontario Human Rights Code aimed at protecting people's genetic information from being used by insurance companies and employers. The proposed privacy regulations sound like a positive move for society -- a policy slam dunk. But, one can expect the insurance industry to oppose such legislation with some fairly logical and fundamental arguments.
This weekend a piece of Ontario history burned to the ground with the overnight loss of the St. Jacob's farmer's market. Ironically, my husband and I had just been there the afternoon before and it ha...
Canadians are typically known for being polite, apologetic and careful. But when it comes to insurance, a new Leger research study commissioned for PC Insurance, suggests we're not always following the rules -- or playing it safe.
Recently a 97-year-old New York man left his $40 million fortune to....no one. People need to encourage their friends and family to start sharing their wishes and their wants...to make it an acceptable discussion topic.
The recent RBC outsourcing fiasco was so unusual, revealing and, for many Canadians, infuriating. Corporate Canada was watching as RBC flailed around amidst the firestorm of its own creation. You have to know everyone was taking notes. Publicly traded companies will be far more careful on farming out jobs.
WINNIPEG - Great-West Lifeco Inc. will acquire Irish Life Group for $1.75 billion from the Government of Ireland, which acquired the financial services company last summer as part of a bailout of its...
Small and medium-sized business owners are risk takers and dreamers. But most small and medium sized business owners are either unfamiliar with, or put off the purchase of Legal Expense Insurance. Though the benefits could mean the difference between success and bankruptcy, few are aware of the many compelling reasons for such a policy. Here are the top five reasons to look into legal expense coverage.
Breast cancer mortality is 60 per cent higher for African American women ages 45-64 than for white women, even though African American women are less likely than white women to be diagnosed with the disease. So here we present to you the experiences of four African American women, all of whom are suffering from triple negative breast cancer. These are real photographs. These are real struggles.
It occurred to me, recently, that I can't remember when I first started anti-depressants. Was I on pills at my Bat-Mitzvah? Did I take one the morning of my Grade 10 biology exam? I don't know. I have been in a relationship with drugs for so long that I can no longer recall our first date.
A lot of Canadians have no life insurance. Those who do often have excessive or expensive policies that they just don't need. In this economy, it's time Canadians go through their desk drawers and purge some of those useless, costly policies, and replace them with new ones.
TORONTO - Sun Life Financial Inc. (TSX:SLF) expects to lose $621 million in the latest quarter from volatile markets and other factors and could book another $500 million in losses in the current peri...
Just like your personal insurance, municipal insurance costs keep escalating, and it's you, the taxpayers, who pay these spiralling premiums. You're getting hit by a double whammy: home and town insurance.