student health insurance

MORTGAGE INSURANCE FROM BANK VS LIFE INSURANCE

, , , , 0

PERSONAL LIFE  INSURANCE

Your Insurance remains intact even if you switch lenders Portability
BANK MORTGAGE INSURANCE

When you switch mortgage providers, you usually need to reapply for your mortgage insurance. You own the policy and choose the beneficiary you want to receive the death benefit.

Control

The lender owns the policy and assigns itself as the beneficiary.
Your coverage amount remains intact even as your mortgage balance decreases.

Level coverage

Typical MI declines as your mortgage balance decrease, however, your premiums stay the same.
You benefit from insurance underwritten at the time of application.

Comfort
Typical MI is only underwritten at the time of death, no medical upfront

Your rates are guaranteed for the life of the policy – it’s right in the contract.
Guaranteed death benefits and premiums, typical mortgage insurance from bank rates are not guaranteed.

Capture-3

Travel Insurance – To Buy or Not to Buy?

, , , , 0

The term travel insurance can be often confusing for new travelers as this is commonly used to describe a few different types of insurance. This doesn’t just offer medical expenses and lost-baggage cost, but a lot more.

Before getting a travel insurance Brampton, you should know what kind of coverage the policy includes. There are many things that travel insurance may cover:

  • Travel Health Coverage
  • Medical Evacuation Coverage
  • Trip Cancelation Coverage
  • Baggage/Property Coverage

Should I Get travel insurance?

Well, this is a million-dollar question — and a personal decision. Millions of people travel across Canada without travel insurance Brampton and end up facing problems. I’ve heard horror stories from other travelers regarding failure to bear the medical cost, lost baggage, and more expenses that they’ve never thought they may need to bear.

So if someone asks for my opinion about getting insurance, I answer with:

Definitely, Yes!

Why? Because shit can happen to anyone, regardless of your age, financial situation, job, gender, etc. And when something wrong happens while you’re traveling across the country, travel insurance Brampton can be a great support.

Despite your best-laid plans and preventative measures, sometimes you may find yourself in great trouble just because of the absence of travel insurance. Even if you sprain your ankle, it might leave you a great financial chunk.

Wrong can happen to anyone and travelers are no exception. Even the minor medical assistance can cost you tens (or hundreds) of thousands of dollars. And if you’re not insured while traveling, you’re screwed!

With years of traveling experience and listening about the horror stories, my recommendation is to get yourself insured. This may be a small amount but will save you from great trouble I a foreign land.

RESP Brampton

Top Reasons to Start RESP Today

, , , , 0

Post-secondary education is costly and since it’s going to be more expensive in the future, you have to be prepared for it. To save yourself and your child from loads of their education cost, you might want to start a Registered Education Savings Plan (RESP).

The RESP is created to allow you to save for your child’s education by generating income and gains that are not taxable. When you start the RESP Brampton, you also get the benefit of the Canada Education Savings Grant (CESG), under which the Government of Canada contributes an amount to your child’s RESP.

RESPs are highly regulated and we’d like to present you the top reasons to take advantage of this solution.

You Want to Save For Your Child’s Education

In 1998, the Federal Government introduced this plan to encourage Canadians to save for their children’s post-secondary education. Under RESP Brampton, parents can contribute a maximum of $50,000 non-tax deductible amount in an RESP per child.

You Want to Save Taxes

Unlike the other schemes (RRSP, TFSA), with RESP you don’t have to pay tax on capital gains and interest income. This helps your savings to grow even faster. You don’t need to pay any taxes at the time of withdrawal because you didn’t receive a deduction on the initial contribution.

You Want Better Options for Savings

Like an RRSP or TFSA, you have many other options to save your hard-earned money. You can invest in stocks, bonds, mutual funds, etc. However, unlike other options, RESP Brampton is a risk-free investment.

Invest in Friend or Family’s RESP

RESP doesn’t only allow the parents to invest, but it is an open scheme where relatives can also save for the future education cost. You can save for the education of your grandchild, nephew, niece.

When you open RESP account, remember that you have 60 days to withdraw from the plan. Make sure to read and understand the ‘terms & conditions’ outlined in the short Plan Summary carefully.