An open and impartial blog about insurance, employee benefits, industry news and financial literacy.
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Conflict of Interest - Commissions
Life Insurance companies (in Canada) create a huge conflict of interest for their agents. Life Insurance comes in different flavors, Term, Whole Life, Universal Life. Each policy has its pros and cons and price point. Insurance companies pay agent with commissions, and commission rates are different between policies. This causes agents to try and sell inappropriate and too expensive policies to their clients. Term insurance is what most people need. If you are a family and have a mortgage, you w
Pharmacy Dispensing Fee Update
The last time I saw a survey on Pharmacy Dispensing Fees in BC was in June 2009, I posted about it here.Since it has been nearly 3 years since that data was collected I decided to make a few phone calls to local pharmacies in Victoria BC. I have compiled the current dispensing fees in the table belowThe blank spaces are pharmacies which are not present in Victoria BC, so I did not call them. Keep in mind that these numbers are from a single location of each company. The location closest to you m
Pooled Registered Pension Plan (PRPP)
The Federal Government recently passed Bill C-25 also referred to as the Pooled Registered Pension Plan Act. while still in its infancy, and with many details still to be drawn up, this plan provides yet another method for Canadians to save for their retirement. Standard Life has put out a good summary of what we know thus far. I have linked it below. I have also summarized what I feel are the most important parts.Rob's SummaryAll employers will be required to offer the plan to all employees wor
