Good day everyone. Many of our friends and clients have asked us: “What is the difference between Disability Insurance and Critical Illness Insurance?” This article from Yahoo! Finance Canada uses an analogy I like. Please read and let us know if we can get you more details.

Dynamic insurance duo keeps you covered

From superheroes (Batman and Robin) to supercops (Starsky and Hutch), dynamic duos have helped keep us safe, secure and covered — at least in the pop culture world of our childhood. In real life, we rely more on other dynamic duos like foundation and concealer, or sunscreen and a fashionable floppy hat. One just seems to enhance the other and does what the other can’t. Apply that logic to insurance coverage and you start to see why disability and critical illness insurance can be classified in the dynamic-duo category.

Many Canadians have disability insurance through their employers. If you’re one of them, you’ll get replacement income in the event of a serious illness or injury during your working years. That’s a great relief. But is it enough? Do you also need critical illness insurance? Read on to find out.

Read the full article here.

Image courtesy of computerclipart.com

Hello everyone. Have you noticed the costs of education lately?

Junior colleges are granting degrees but are now charging almost the same as a full university. With all the costs rising for education, many are asking “how is the best way to save for our children/grandchildren’s education?” We thought this article in the Globe and Mail would help you think of some questions. These are questions to ask your advisor about these plans.

How do I save for my child’s/grandchild’s education?

With education costs rising, it’s harder than ever to send your children to college or university. Learn more here about different ways to save – and how the government will help.

Click here to read the full article.

If you want our opinion on these or any other investment vehicle please call our office and any of our professionals can help. I do hope you enjoy the article.

Photo Credit: “Back to school” by Avolore on Flickr

We have been receiving more and more inquiries regarding insurance covering the occurrence of a life threatening illness.  There is just such coverage called Critical Illness Insurance. This type of insurance is designed to pay a tax free lump sum of cash on the diagnosis of a life threatening illness such as heart attack, stroke or cancer.

Most people want to know the true financial effect of such an event and the linked article below gives a good viewpoint referring to studies done by the Canadaian Breast Cancer Institute. We usually propose coverage to replace a full years income, so if you are making $50,000.00 per year, female, non smoker, age 40, your premiums would only be about $30.00 per month (assuming “standard” health underwriting results).  Please review the article and contact us for more information.

Harvey

Economic impact ‘huge’ for breast cancer patients, report says – The Globe and Mail

“The economic impact of breast cancer is huge and, in many cases, devastating for patients and their families,” says the report, released Thursday.

The study, which CBCN says is the first to examine the financial and labour impacts of breast cancer, is based on a survey conducted last year of 446 Canadians with the disease.