The promise that something will be paid in case of loss. Used to cover important items and reduce personal risk. This tag covers how to get it, how to keep it, what kind, and why you should have it.

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20
votes
8answers
4k views

Why do people take out life insurance on their children? Should I take out a policy on my child?

I've always found those flyers that the schools send home in September contemptible. But maybe I'm the one in the dark...? If the purpose of life insurance is to replace a wage-earner's income in ...
4
votes
2answers
286 views

What is mortgage insurance? Do you have to have it, in order to be approved by a bank?

What does mortgage insurance do? Whom does it protect? Do I need it? MUST I have it, in order to be approved by a bank for a mortgage with them?
9
votes
1answer
413 views

Trip Interruption insurance vs. Trip Cancellation insurance: what's the difference?

My credit card says they offer trip interruption insurance as a benefit. I am only familiar with trip cancellation insurance. Are these the same or different?
10
votes
4answers
280 views

Homeowners: How can you protect yourself from a financial worst-case scenario?

Say your a home-owner, a first time buyer. You've just got your first flat and your about 1 year into your 25 year mortgage. Suddenly, something goes wrong with your job, and your made redundant ...
10
votes
1answer
234 views

What is long-term care insurance ? How does long-term care insurance work?

What is long-term care insurance? How does long-term care insurance work? Who should consider getting long-term care insurance and why?
2
votes
2answers
179 views

What is covered by CDIC savings deposit insurance?

In the unlikely event that a financial institution fails in Canada, what is covered by the Canadian Deposit Insurance Corporation? What is the limit of coverage?
7
votes
1answer
114 views

How can I save money on home insurance?

What are some of the easy or not-so-easy ways to save money on home insurance?
6
votes
4answers
393 views

How can I save money on car insurance?

What are some of the easy or not-so-easy ways to save money on car insurance?