FISCAL AGENTS: Financial Services Group


Open the QuickNav window
Home
Search
Site Map
Contact

The Knowledge Bank

The Money Centre

The Learning Centre

Financial Tools

The Money Management Newsletter
General Interest
GICs / Fixed Income
RIF Planning
RSP Planning
Savings
Managing Money
Choosing Fin.Services
Insurance Products
RESP Savings
Taxes / Estate Matters
Home Ownership
Companion Advisor
Product Reviews
E-Newsletter Archive
Front Page Archive
Subscription Services

Products and Services

About Us




Google

FiscalAgents.com
World Wide Web

Glossary of
Financial Terms
Travel Insurance
options available at
Imagine Insurance

 

The Money Management Newsletter: General Interest
Getting Sick when outside of Canada:
A look at the cost of travel insurance

Most people who love to travel, or those who travel frequently know the importance of purchasing a comprehensive travel insurance package before leaving on a trip. Travel insurance protects you out of province or country from unforeseen accidents or illnesses. Without travel insurance, the cost of prescription drugs or hospital care can skyrocket.

So, what is your best bet when looking into the purchase of travel insurance? Shop around.

Competitive rates

Most insurance companies do offer some form of travel coverage, bringing into consideration factors such as age, degree of coverage and medical health condition to determine their rates. It is important to bear in mind that each companies' rates will differ and it is in the customers best interest not only to focus on price but also on what type of coverage is offered.

Deductible savings

A little extra research on the part of the traveler can sometimes lead to impressive savings and may be worth the time and effort. For example, some insurance companies require the traveler to pay a deductible in addition to their travel insurance. The deductible amount can vary depending on age but often results in lower insurance rates. Other providers may not require a deductible but instead present it as an option for the customer to pay in order to receive reduced rates. Insurance agencies may also have additional deals for those purchasing more than one policy or for those going on more than one trip.

Medical questionnaires

Depending on the insurance company, prospective travelers might be required to complete a medical questionnaire before they are assessed a rate. These questionnaires are designed to determine the health of the customer and in many cases must be completed regardless of the age of the person requiring coverage.
The results of a survey (see below) of 23 randomly chosen insurance companies conducted by Fiscal Agents Financial Services Group in Oakville, Ontario, shows that the completion of a medical questionnaire to determine rates is becoming more popular, especially for those between the ages of 61 and 81. A number of the companies surveyed said that they have switched to this method within the last year and require a questionnaire to be filled out in all cases.


How much is my deductible?

Nine of the providers polled required their customers to pay a deductible ranging from $200 to $250 U.S. and $250 Cdn. and were able to provide slightly lower rates for travelers between the ages of 61 and 76 than companies not requiring a deductible. Prospective travelers around the age of 81 should be aware however that paying a deductible did not offer much of a lower rate on their insurance and in one case their deductible was raised to $1000 Cdn.

Non-deductible coverage

For companies not requiring a deductible from their customers, of the companies we surveyed, Voyageur Insurance provided the best overall rates for travelers between 61 and 76. Thomas Cook's snowbird insurance package offered the best price for travelers aged 81.
CIBC came in as the highest for those looking for coverage at the age of 61. Blue Cross (Ontario) charges most for their coverage between the ages of 66 and 71. Bank of Montreal was the highest for age 76 and Atlantic Blue Cross rated most expensive for insurance over the age of 81.

Your best chance at success when purchasing travel insurance is to ask a lot of questions and become very comfortable and familiar with the coverage that you eventually decide on. Travel insurance, like any other type, is there to protect you and will serve you best when you find the one that suits your needs.


* * *
Use this link to load a printer-friendly
version of this document.

Do you want to share this page with someone else?
Send this page to
Sending
Format
Text
HTML
Your email address

Have a question regarding this article? Use our feedback form to send us a note.
BACK

© Fiscal Agents - Canadian Money Centre Site

Knowledge Bank
Money Centre

Financial Tools
Newsletter
Products & Services
About Us





More Quotes

Links


Review our Website
Headline News
Canada411
Postcards
Postal Codes
Road Maps
Yellow Pages





The Best of the Best
Guaranteed investment Certificates Last updated:  


Click on any row in the above tables to view the complete rate survey for that product.
See what your savings can earn:

Guaranteed Investment Certificates
Interest
Payment
Years
1 2 3 4 5
Annually
Max Rate
Semi-Ann
Quarterly
Monthly
Tax-Free

Demand Accounts

Cashable*

$5,000


Savings Account


US Savings Account

Short Term Deposits
Days
30-59 60-89 90-119 120-179 180-269 270-364

Registered Retirement Savings Plans (RRSPs)
Compounds Years
1 2 3 4 5
Annually

Registered Retirement Income Funds (RRIFs)
Note: Varying deposit
amounts per rate.
Years
1 2 3 4 5
Ann / Compound

Note that rates for different terms may have different deposit amounts. View the complete table to see the required deposit.

Why settle for what your local bank branch is offering? (Click for a comparison)
At Fiscal Agents, we use our GIC buyingpower to gain higher deposit rates from financial institutions -
including some of Canada's major banks - and pass these top rates on to you!

Call Fiscal Agents - your no-fee deposit broker.

Local 905-844-7700 or Toll-Free Number: 1-866-434-7225

Where over 20 financial institutions (here) compete for your business!
Rates are subject to change without notice, E.O.E.

*In most cases no interest is paid on cashable GICs if they are redeemed within 90 days of purchase or an interest rate adjustment will apply.
We make available deposits issued by member institutions of Canada Deposit Insurance Corporation (CDIC),
Deposit Insurance Corporation of Ontario (DICO) or Assuris, the deposit protection scheme offered via the insurance industry.


Invest with the authority on GICs
Fiscal Agents is recognized as the authority on GIC issuers. We provide accurate daily rate information to many of Canada's leading national and regional newspapers and web sites including the Toronto Star, National Post, Yahoo.ca MSN.com, Canoe.ca
Helping clients earn higher returns
Since 1977, we've consistently provided more earning power for our clients than any local bank with our exceptional, wholesale bonus GIC deposit rates.
Who's talking about us (read more)
"If you want to know how much more you will earn with a higher-rate GIC or savings account you can go to fiscalagents.com and check out the GICs Rate and Return Calculator." - Ellen Roseman, Personal Finance columnist for The Toronto Star, quoted in her article "Getting better rates from smaller banks".
"My all time favorite Web site, These guys really have their stuff together and they offer consumers a wide range of calculators (personal planners and worksheets) to help us sort out our money." - Gail-Vaz-Oxlade, Personal finance columnist for Chatelaine's Your Money section, quoted from her article Calculating your Options. Look for Gail's TV show Till'debt- Do Us Part


The Learning Centre
How much are you paying - Check out the drug dispensing fees at the local pharmacy  

The Learning Centre

Guaranteed Investment Certificates
With so many incarnations of Guaranteed Investment Certificates (GICs) available today, customers are demanding current and up to date information. We can lead you through the ins and outs of this popular investment. (Click to read the complete article)
The Learning Centre

Mortgages
Don't make a mistake by rushing headlong into the mortgage mayhem. Take the time to do your homework and check out our collection of mortgage information, advice and handy mortgage tools. (Click to read the complete article)
 
The Learning Centre

Registered Retirement Savings Plans (RRSPs)
For years, Registered Retirement Savings Plans (RRSPs) have been helping Canadians save for their retirement. They allow contributions to grow on a tax deferred basis until they are withdrawn and provide contributors with a useful deduction on their taxes. (Click to read the complete article)
 
The Learning Centre

Registered Retirement Income Funds (RRIFs)
When the time comes to finally retire, will you have the resources to live the life you have imagined? Here we explore the options available to establish a consistent income throughout your post-employment years. (Click to read the complete article)
 


Features
   

The Learning Centre

Ask An Expert
Question: My Mother has some GIC's with your Company from several different banks and trust companies. Can she put beneficiaries on them, or will they have to transfer to her estate when she passes?

Answer: She can't put beneficiaries on them as there isn't a beneficiary option for a Bank, Trust Company or Credit Union GIC. What she can do is have the GICs in joint names so that they do not have to be included in probate when she passes away. The joint ownership can be structured so that the joint owner either becomes a beneficial owner of the investment ( the money will pass directly to the joint owner when your mother passes away) or the joint owner can just be there for convenience to avoid probate but the money will actually go to your mom's estate rather than the joint owner. There is a declaration that can be signed for either circumstance depending on your mother's wishes. (Click to read more Q&As)
Products & Services

The Cornerstone of Financial Independence is not a privilege of the rich... It's a plan of the wise...®
The concept of Cornerstone® Planning stems from the simple "plan of the wise" statement above. By following the process that we have put together, you will have the benefit of the collective investment wisdom which we have acquired over our 20-plus years in this business. We have been through both bull and bear markets, as well as periods of high and low interest rates. Why not benefit from our learned wisdom now rather than make costly mistakes as a result of investment inexperience? (Click to read the complete article)











Free Newsletter





Have our free, monthly
E-Mail Newsletter sent
directly to your Inbox.

Click here
to subscribe.



The 10 Principles
of Being Rich

The Ten Principles of Being Rich follows the life stories of three typical investors, and explains how investment fundamentals are influenced by time constraints as they develop and monitor their financial plans.


Your comments are important to us!

Please take a minute to answer our 12-question
survey about our new site, so we can continue to improve.


Member of the RDBA
(Registered Deposit Brokers Association)
Site Rated by the ICRA
(Internet Content Rating Association)

Quantcast
, Fiscal Agents Money Management Newsletter
25 Lakeshore Road, Oakville, On L6K 1C6.
(905) 844-7700

 





Fiscal Agents Home

Knowledge Bank Money Centre
Learning Centre Financial Tools
Newsletter Products & Services
About Us    

Legal | Site Map | Home | Search

Copyright © 1984 - Fiscal Agents Financial Services Group


Questions? Comments?
Use our Feedback page to contact us.

 
Insurance Products
Tailoring your car insurance to suit your needs

Gradual Inheritance Transfers

Understanding the different Life Insurance class assessments

Term Life insurance makes protecting against larger risks more affordable

Getting sick while outside of Canada: A look at the cost of travel insurance

Travel Health Insurance

The Luck of the Draw - and making a difference

Designating a beneficiary for a RSP/RIF or a life insurance policy

The do's and don'ts

Purchasing Life Insurance: Are medical tests necessary?

Life Insurance: Term vs Permanent

Term coverage and the myth of self insurance

Critical Illness Insurance - A growing need


Charitable giving through insurance

A word to single parents about their Life Insurance

Is Mortgage Life Insurance worth it?



The Companion Advisor:
w
Insurance