Weekend reading: insurance to avoid, early CPP, and more

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Hi and welcome to weekend reading, where we share some of the best posts we read over the past week. We hope you enjoy them as much as we did. If you haven’t already, please consider following us on TwitterFacebook, and Google+, where we share the latest in personal finance, debt, retirement, insurance, tax and investments.

Insurance

Here at AAFS Insurance, we looked at how to make a claim for critical illness insurance. Since there are so many illnesses that you can claim for, it’s important to understand the process and tips for speeding up and improving the rate of approval.

LSM Insurance lists 6 insurance policies that you may want to avoid. We agree on some, like credit card and mortgage life insurance, but long-term care insurance should be considered for many people approaching retirement.

Nelson from Financial Uproar shares his take on who needs for life insurance.

Personal Finance

Now that RRSP season has arrived, Garry Marr writes in the Business Post about the decision to save for retirement or pay down debt. This question comes up every year and the result is always the same: try to do both if you can.

Jim Yih at Retire Happy explains why you should still take your CPP early. Although younger receivers of the pension get less, they have the income for more years and it will take until age 74 for someone who started taking the pension at age 65 to catch up to another who started at age 60.

Investments

Avrex Money discusses his option income goals for 2015. Although options are a zero-sum universe, he can increase his income by selling options to investors who are looking for downside protection in their underlying positions.

Ben at A Wealth Of Common Sense explains why bonds are still an important part of a portfolio. They offer diversification, less volatility and provide an emotional hedge in the event of a market sell-off in stocks.

We hope you enjoy the reads this weekend and be sure to check back next week for a new post. Subscribe to our weekly newsletter on the right side of the page so you don’t miss a single post.