August 2010

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Mortgage Insurance: Not Necessarily as Advertised

It’s all part of the process when you are arranging a mortgage for your new home. The bank employee inevitably asks if you would like to purchase mortgage insurance. No one likes to think about their own mortality; however, we all know deep down that stuff happens. People contract terminal illnesses or suffer debilitating or fatal accidents.

Knowing that your loved ones will be taken care of can provide some peace of mind - so you decide to accept the bank’s offer for mortgage insurance. But beware – the policy may actually not provide the...

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Get It When You Can

We’ve all read or heard about the unlucky family that is wiped out by a house fire and didn’t have any fire insurance. All too often, people mistakenly believe that it won’t happen to them. The reality is that bad things CAN happen and there is nothing that guarantees they will be immune from disaster. Insurance is simply an economical way to protect ourselves from the financial loss a tragedy can bring.

There are a number of factors that can determine if we can even get coverage. Just as it would be impossible to get fire insurance while the house is on fire, other types of insurance can be difficult to get after something has happened:

Life Insurance - For several decades, there has been constant downward pressure on life insurance premiums. This has caused the companies to be...

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Beware How You Help Your Kids
     Financially

A recent TD Canada Trust survey found that 10% of Canadians are considering the purchase of a condominium for their adult children. This is up from 5% just a year earlier and certainly reflects drastically increasing housing costs over the past decade.

Gerry and Joanne were more than happy to give their daughter a sizable down payment to help her and her new husband get into a home of their own. Unfortunately, like almost half of marriages, theirs ended in divorce. The ex-husband got half of the proceeds of the sale of the house, even though they were only married for...

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Bernard Meltzer


Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the mutual funds in which you invest. The information in this email newsletter is general information only and is not intended to constitute specific legal, accounting, financial or tax advice for any individual.   Full Disclaimer - Privacy Notice

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