Disability and critical insurance can seem complicated – not only must you choose the right level of coverage, but you also have the option of adding an insurance rider to your policy; as with home insurance, many life insurance policies come with riders. But what exactly is an insurance rider, and how do they work? And what should policy holders be aware of when adding one to their coverage?
A proposed deal for insurance giant Manulife Financial to acquire competitor Standard Life in a $4-billion deal would help the insurer expand its core business, and grab a larger share of the Quebec market. But what would an acquisition mean for Standard Life insurance customers? Will they see their coverage change, and options decrease?
Better to be safe than sorry; that’s the mantra drummed into Canadian’s heads by insurance companies. And while they have a valid point – no one wants to be bankrupted by an unforeseen series of events – many insurance customers are less knowledgeable than they should be about their coverage. When choosing your insurance products, educate yourself – and ensure you really understand what you’re signing up for.
Recently there has been a lot of concern about rising home insurance premiums. Some homeowner’s premiums have increased as much as 30 per cent, even without a claim being made in the previous year. Don’t get stuck with a ridiculous rate. Believe it or not, there are answers to the home insurance blues.