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Which Savings Plan Is Right For You? TFSAs vs RRSPs

There are several different options when it comes to creating a savings plan. Two popular choices include both a registered retirement savings plan and a tax-free savings account. In this infographic we break down whether if a RRSP or TFSA is the right savings account for you.
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Weekly Personal Finance Roundup February 6th 2015

This week, to celebrate the event of the Super Bowl last weekend, we look back on professional athletes who dropped the ball on their finances. The day after we conducted an in-depth report on how one insurance broker was able to convince BMO Insurance to pay out a claim without a premium. Following that we shared two life insurance tips that prove useful. The first tip is a set of insurance policies that you might want to consider if you areself-employed. The second tip is that you ...
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5 Medications That Could Affect Your Life Insurance Application

If you are taking powerful medications for a serious illness or condition, it may not be easy for you to get a life insurance policy at the standard premium rate. This is because many of these medications have side effects that could negatively affect the user, making it more risky for an insurance carrier to cover them. During the underwriting process for a life insurance policy, many insurance companies will want to know if you are currently taking any medications. If you answer ...
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BMO Insurance Pays a Claim Without a Premium

BMO Insurance Pays a Claim Without a Premium

BMO agreed to pay a policy without a premium. We often hear those stories about a beneficiary's battle with a loved one's insurance company to pay out a claim. In many cases they end with the insurance company refusing to pay.The following story is one exception. The world shattered for Thornhill, Ontario's Cherniavski family on June 10, 2013. The Toronto Star reported that this was the day when their beloved daughter, 28-year-old Biana, went out to walk her dog Harley and never ...
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Life Insurance in Edmonton, Alberta

Life Insurance in Edmonton, Alberta

Edmonton Skyline During The Day Edmonton is the capital of the province Alberta. Edmonton is best know as "Canada's Festival City" as it hosts numerous year-round festivals. Edmonton is home to the largest mall in Canada, West Edmonton Mall. It is also home to Canada's largest living history museum, Fort Edmonton Park. The metropolis of Edmonton has a population of1,159,869 making it the 6th largest city of Canada. Our office in Edmonton, provides excellent service and always there to ...
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6 Pro Athletes Who Dropped The Ball On Their Personal Finances

Professional athletes often end up earning millions of dollars during their careers. But, despite that kind of income, many of these athletes quickly go bankrupt once their playing days are behind them. While it may sound hard to believe, this happens more often than you might think. Financial mismanagement is the biggest reason for this reversal of fortunes. Many of these athletes who go broke have often come up from a lower to middle class background and don’t have much experience ...
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Weekly Personal Finance Roundup January 30th 2015

In our articles this week, we wanted to create a discussion around back-to-back annuities, as well as, RRSPs and TFSAs. We also looked at how hard it might be to obtain insurance if you participate in extreme sports. We debated whether back-to-back annuities are a good a idea or a bad idea. Explored the dangers of 5 extreme sports that may be tough to get insurance. And examined the differences and similarities between RRSPs and TFSAs. On the list for weekend reading this ...
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RRSP vs. TFSA: Which Savings Plan Is Right For You?

A Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA) are the two best choices for many Canadians when it comes to setting aside savings and investing some of their current income for the future. Yet, the question remains, among RRSPs and TFSAs, which savings plan is better? There isn’t a universal answer to that question, as both RRSPs and TFSAs offer their own advantages and disadvantages. While some people in a certain income and age bracket will be better ...
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5 Extreme Sports That Can Make It Tough To Get Insurance

If you participate in extreme sports, getting life and disability insurance is absolutely necessary. There have been countless cases, such as this one involving skydiver Kenzie Markey, where an uninsured person participating in an extreme sport suffered serious injuries and racked up expensive medical bills during treatment. Unfortunately, it’s not easy getting life or disability insurance if you’re involved in dangerous sports that can result in serious injury or death. During the ...
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Are Back-to-Back Annuities a Good Idea?

Annuities are a great way to ensure income in your retired years. Back-to-back annuities, or insured annuities, are particularly useful, but there are a few things you should know and consider first. What Exactly Is A Back-to-Back Annuity? It is an annuity you buy that gives you a fixed, guaranteed income for life, backed by an insurance policy that allows you, at the end of life, to pass on the capital to beneficiaries. Additionally, what you receive from annuity payments is enough to ...
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