The summer season can mean time for barbeques, biking, soccer, baseball, watching beautiful sunsets and having s’mores around the campfire. The season conjures up images of lazy days in a hammock or lying poolside. However, the reality for many people consists of hectic schedules and very busy summer calendars. With kids out of school, summer camps, and running to scheduled sporting events, getting some spare time can seem challenging at times.
Although it may be more common to see two income Canadian families, many parents are opting to stay at home to raise the kids.The decision to stay at home is usually contemplated when the kids are quite young, and typically, after the second or third child comes along. Then it becomes the financial trade-off decision whether to spend money on daycare or learn how to stretch having only one income in the household.
Shopping for insurance can be challenging and confusing given the unfamiliar terms that are used in the industry.
To help, we have created your quick reference Insurance Lingo infographic. Whether you are just starting your search for insurance, just got approved, or just need a refresher, here are some terms for you to understand, and tips for you to use!
This is the second of a two-part blog series outlining some simple steps to get started on your estate planning. You can find the first part here.
Picking up from our last blog post, here are the next set of steps to help you approach and simplify your estate planning:
It's inevitable that we're all going to die at some point. Although it’s not the most pleasant of thoughts and not something we should dwell on, we should think about it long enough to get our estate in order. Unfortunately, estate planning is not enough of a priority for most Canadians.1
According to surveys conducted by the Life Insurance Market Research Association (LIMRA), historically, the public opinion of the life insurance sales person has not been positive.
In fact, in the narrative portion of the surveys, where respondents were asked to describe the typical insurance sales person, they often used words such as “pushy” and “untrustworthy.”
However, there was also good news in these surveys. Respondents who had a relationship with an insurance sales person invariably added the words, “ … but mine is different". They also added phrases such as my insurance person “is a pillar of the community,” or “is knowledgeable and helpful, and I would trust him or her with my life”. But mine is different.
A recent survey from the Financial Planning Standards Council reported that 51% of women and 40% of men are losing sleep due to financial worries. Life insurance may be an important part of the solution, but many Canadians don’t feel insurance companies are on their side.
To help demystify purchasing life insurance, knowing the right questions to ask is important.
Having life insurance as part of an employee benefits package at work is a great benefit.
Many companies pay for a fixed amount of life insurance for their employees and also allow employees to purchase more coverage at a low cost and with no medical exam. As a result, a significant number of Canadians have life insurance through their employer1.
It may be something we don’t want to think about but it doesn’t have to be difficult.
You make at least a hundred different decisions every day. There are quick and easy ones: What time to wake your kids up for school? Which food is least likely to be snubbed by your family? Then there are more challenging ones: Which school your child should attend? Is 12 to young for a cell phone?
Then there are difficult decisions that we struggle with, and that can lead to a catatonic state of procrastination.
Financial decisions top the list of items that people put off making decisions on1, particularly when it comes to purchasing life insurance. The truth is, it may be something we don’t want to think about but it doesn’t have to be difficult.
