Life Insurance Canada News:

News from 2014

Financial Impacts of Divorce That Every Married Person Should Know

11 Financial Impacts of Divorce That Every Married Person Should Know

Everyone knows that divorce isn’t free. In fact, it can literally cost a fortune. Between lawyers and councillors, the cost of a second residence (likely for one of the parties involved) and liquidating assets, you can be in for a long and expensive ride. If you are absolutely certain that your marriage is over and divorce is your only option, these are the things that are going to impact your bank account, and what you should consider as you move forward. 1. The legal side of things. ...
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Barry Choi | Personal Finance & Budget Travel Expert at Money We Have

Barry Choi Budget Travel and Personal Finance Expert at Money We Have 1.What type of Critical Illness insurance do you own? I actually depend on my employer short and long term disability insurance plans. Both plans are quite generous and would cover me in the event I had a critical illness. 2.What factors did you consider when determining the coverage amount? Since it's my employer plan, I really have no say; I'm automatically enrolled as a full-time employee. That ...
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Weekly Personal Finance Roundup

This week we round-up some of the best end-of-year articles and blog posts. Enjoy! Jonathan Chevreau warns readers to trigger tax losses for 2014 before the deadline MoneySense gives us the skinny on Cyber Boxing Day Big Cajun Man breaks down why lower gas prices lowered inflation to 2% On her blog, Gail Vaz-Oxlade discusses how men and women approach risk differently Stephen Weyman of HowToSaveMoney.ca gives us tips on how to make your car last longer Blonde on a Budget gives her ...
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William Shung | Senior Insurance Advisor

William Shung Senior Insurance Advisor | LSM Insurance 1.What type of Critical Illness insurance do you own? I own a permanent level premium critical illness insurance policy. 2.What factors did you consider when determining the coverage amount? The purpose of critical illness insurance is to provide for unforeseen expenses. Most importantly, the insured amount should be sufficient to finance any treatment required if diagnosed with a critical illness. When deciding on the ...
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Weekly Personal Finance Roundup

Check out this week's round-up of Personal Finance articles and blogs: DividendMantra.com analyzes the pros and cons of seperate and combined budgets with your significant other GetSmarterAboutMoney.ca breaks down the 5 things you should cover in your will Jason Heath gives MoneySense.ca readers the lowdown on different types of living benefits policies In the spirit of giving, ModestMoney.com shows us how to make a real impact on someone this holiday season FreedomThirtyFiveBlog.com ...
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Can Your Tax-Free Savings Account Be Too Profitable?

Maybe the TFSA isn’t the tax-shelter Canadians think it is. The Harper government created Tax-Free Savings Account (TFSA) to help shield our savings from tax, but now Canada Revenue Agency (CRA) auditors are targeting TFSA holders with large sums of money in their accounts. According to a recent article in The National Post, if you've posted not onlylarge gains in your account, but if you also trade too frequently, you could be audited. As a justification for this, the ...
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Chad Larmond | Principal at LRM Insurance

Chad Larmond Principal,LRM Insurance 1. What type of Critical Illness insurance do you own? The type of critical illness insurance that I own is a level premium to age 65. It has a 100% return of premium at age 65 if no claims are made. 2. What factors did you consider when determining the coverage amount? A good range to consider is one or two years worth of your gross or net income. I purchased my plan early in my career so I secured an amount that I am able to grow ...
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What is the Best Way to Teach Young People About Money?

Here Is Some Advice From The Experts: Robin Taub, chartered accountant and author of A Parent's Guide to Raising Money-Smart Kids, says it's important to teach kids about money because "having good financial management is an important life skill." Not only that, but all parents want to raise fiscally-responsible and financially independent children. With that in mind, we asked some of Canada's leading financial personalities the best way to teach kids about money and here's what they ...
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Personal Finance Blog Weekly Round-up

We've started a new tradition on the LSM blog!Starting this week, we will be compiling a weekly list of personal finance articles and resources that we think our readers will find useful. Every week on Friday, we will scour the web and social media for the top articles being read and shared on all things related toCanadian personal finance. Michael James on Money breaks down the different between Term and Permanent Life Insurance and gets input from Gail ...
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Five Disability Insurance Loopholes

How well do you know your disability insurance policy? What happens if you answered your policy questions incorrectly? Do you have illness protection, or only injury protection? When does your coverage expire? Having disability Insurance is critical, and it’s something everyone should have in order to protect some of their biggest assets, such as their mortgage; but do you know everything about your policy?Are you fully protected? What if something goes wrong? Below are ...
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