Pay Attention to Your Beneficiary Designation
It’s more important than you think
Naming a beneficiary is a valuable feature of life insurance and segregated funds policies so it is important to carefully choose your beneficiaries.
Estate – the default choice
Many people choose to name their “estate” as their beneficiary. Although this is an easy short-term solution, it is important to review the risks of doing this. If you are stuck for a significant “other” beneficiary, don’t forget to change it to a more appropriate option later. Why?
- The proceeds will be subjected to probate fees and the benefits received will be co-mingled with all the other estate assets which may be exposed to various third parties.
Travel vaccinations: What to know before you go
By Anna Sharratt, BrighterLife.ca
Alina Valachi hasn’t forgotten her last trip to Pakistan. “My husband contracted malaria two weeks into the trip,” she says. This was despite taking precautions such as spraying their room with pesticides, wearing long-sleeved clothing and applying mosquito repellent. “He was born and raised in Pakistan, and had never contracted malaria — he assumed that he had immunity to the disease,” she says.
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March Report from DM
If you own stocks, you will experience loss
When we take on a new client, setting appropriate asset mix is one of the most important steps in the engagement. Client attributes, such as time horizon, cash needs and risk tolerance all contribute to our recommendation……
Click here to read more – DM-Monthly-Report-Mar-15
Protect your personal finances during divorce
By Carla Hindman, Director of Financial Education, Visa Canada
Divorce is often referred to as the No. 2 most stressful life event, second only to death of a spouse. And no wonder: Besides its obvious emotional impact, getting divorced can also be a financial nightmare as you’re forced to deal with nagging details like separating your finances, acquiring your own health insurance and deciding who will claim the kids as tax deductions.
Here are some of the many financial issues to consider when you separate – and to keep in mind even if your marriage is on stable ground: Read more
