You bought a house or you’re renewing your mortgage at the bank. This means signing a litany of documents and amongst them a mortgage insurance application. Usually this is a one page form with a few medical questions and the monthly premium at the bottom. You’re in a daze of paperwork and of course the security of mortgage insurance seems to makes sense, so you sign at the bottom of the page. Done deal, right? Think again. Cred...

*As published in the Summer 2013 issue of FinanceWorks.ca

Picture it: bright sun, rolling waves and soft sand squishing between your toes. You are on holiday and life is good. You decide to try out surfing for the first time and during one of your falls, you hit the board awkwardly and crack your collarbone. Suddenly all you can feel is pain and you need to get to a hospital. One question first: do you have travel insurance?

Hopefully your answer is yes and this broken collarbone will not lead ...

You are an entrepreneur. You’re working every day to improve and grow your business. Whether it’s because of your skills in sales, manufacturing or trade, the success of your business relies on you. So what happens if you are unable to work? How long does your business keep running without you at the helm? And if your business stops running, how long can you keep afloat without the income your business provides?

Disability insurance ...

*As published in the Winter 2013 issue of FinanceWorks.ca

Does your group benefits plan include disability insurance? If so, how well do you know your coverage? It could contain gaps that leave you under-protected in case of a claim, putting your lifestyle in jeopardy. 

Here are some things to consider when looking at your group disability ins...

No one thinks that they will suffer from a heart attack, stroke or cancer, especially when they’re young and healthy. Yet elite athletes like Lance Armstrong and Mario Lemieux are living proof that critical illness can effect even those that are young and in excellent physical form. Critical illness is life changing, and besides health, can take away people’s financial stability. The time and cost of treatment often results in a loss ...

*As published in the May 2012 issue of FinanceWorks.ca

You’ve decided to purchase a life insurance policy to protect your family but you have no idea how much coverage you need. Five hundred thousand dollars, $1 million, or even $2 million? What amount fits your situation?

There’s no easy answer. If you ask a dozen different insurance brokers, you’ll likely get a dozen different answers. Every insurer has its own insurance needs calculator and while they usually take in the same factors (...

*As published in the March 2012 issue of FinanceWorks.ca

While term insurance offers an economical solution in the short-term (see ”Can life insurance be affordable?”), in the long run, premium costs rise exponentially. For those who can afford higher initial premiums, permanent insurance can give them a better long-term value.

Permanent life insurance, like the name implies, covers you on a permanent basis. Unlike term insurance, the cost stays the same for life. Over time the cost of term...

*As published in the Feb 2012 issue of FinanceWorks.ca

You’ve got insurance on your home, car, and possibly an extended warranty on your LCD television but do you have insurance on your greatest asset, yourself? If not, is cost your limiting factor?

Term life insurance, or life insurance that covers you for a specified length of time, is an inexpensive way to provide protection for you and your family. Typically purchased for periods of 10 or 20 years, term policies pay out should you pass aw...

As someone who is constantly watching the worldwide markets and business news reports, I sometimes feel like a ping pong ball: being hit back and forth between ‘it’s great’ and ‘it’s terrible’ versions of the same story.  I thought I’d show a couple examples of how analysts, experts, world leaders etc. conflict in opinions and change their stories over time. 

The Lost Decade

With the debt crisis in Europe continuing to plague the worldwide stock markets, there’s much ...

We live on a society that operates on credit.  Gone are the days of our grandparents who saved up and purchased their homes, cars, and everything they needed or wanted cash.  It takes a half a lifetime to own a home now but everyone understands the need to get on the property ladder.  Home ownership goes hand in hand with having a mortgage.  If you are talking to a neighbor or friend and they say they own their home mortgage-free, are you not shocked and wonder to yourself "How?"  But getting...