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Hope you are well and enjoying the final days of summer.
I am writing to let you know that Manulife announced a major premium increase (of up to 50% on certain policies) for permanent level cost (universal) life insurance effective Sept 23rd, just weeks from now. Other carriers will surely follow.
Considering the draconian tax law changes now under review by the government, permanent life insurance will become even more important as the most cost-effective way to pay higher taxes.
This matter deserves your immediate attention, especially if you have a rated policy due to existing health issues or have become uninsurable since taking out your existing term policy.
Your term insurance started off at a reasonable cost, but premiums will continue to rise sharply at each renewal and the policy will become cost-prohibitive and eventually expire.
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According to a survey by Market Probe Canada, 82% of Canadians are concerned that the cost of long term care will significantly reduce their retirement income and assets, and more than half are afraid of becoming a burden to their family.
To make matters worse, they don't have a great deal of confidence in the government's ability to help them if they need long term care in the future. (Can’t say I blame them - read this)
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People like me shop at big box stores for good deals on many useful products.
From tires to toilet paper, consumer-friendly pricing explains the packed parking lots and overstuffed shopping carts.
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The grandparents of a special needs child contacted me recently wanting to do something “different” to provide for their grandson and his parents.
The boy was born with a severe disability requiring special care - an emotional and financial challenge for any family.
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CBC Marketplace has warned consumers again about Canadian banks offering imperfect advice and unfriendly insurance products.
They went undercover seeking financial advice from the country's top 5 banks and financial institutions….and….spoiler alert….the results are scary.
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After a long and miserable winter, Canadians now face the annual dread called tax time.
Some taxpayers are in ‘search and sort’ mode right now, looking for the receipts and documents required for their personal income tax return.
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Everyone knows that insurance companies pay attention to details.
The degree of due diligence they exercise before issuing a life insurance policy often includes a careful review of your driving record, financial profile and family health history.
This is the only time of year when people make all kinds of promises to themselves; solemn vows to quit smoking, lose weight, exercise more, work less, work more, become more spiritual, etc.
Consider adding this resolution - get your financial house on order.
Use this list to get started.
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“Never assume anything” Heard that before? Me too…at least a million times.
Yes, it’s a cliché, but it always ring true!
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Happy Father’s Day!
This post is dedicated to my late father, of blessed memory, who died of a sudden heart attack in 1974 at the age of 50.
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Telling the truth is an essential virtue, especially when it comes to dealing with insurance companies.
A schoolyard fib gets denounced with 'liar, liar pants on fire', but an insurance fib can carry disastrous consequences.
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I was planning to procrastinate, but never got around to it.
How many of us don’t put off important things we know we should have done yesterday? Do you envy those super-efficient types who are so punctual, organized and always put together? Don’t they sometimes infuriate you.... with yourself?
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The NHL hockey playoffs are now underway and eternally optimistic Toronto Maple Leaf fans (1967 was our last Stanley Cup) witnessed a heartbreaking collapse last night when our beloved team blew a 4-1 lead in Game 7. That was painful.
Today the “mourners” are at the water cooler and all over the media discussing the relative importance of Defense and Offense.