Dorbar Insurance Agency Inc.
217 Speers Road Unit 1 L6K 0J3 Oakville, ON, Canada

The unexpected events of 2020 has caused many of us to review our finances, especially Life Insurance. We would be happy to provide a no obligation review of your Insurance needs today!

It is important to remember that replacing the contributions of a stay at home parent is very expensive, especially considering the number of years it takes to raise a family. Life insurance can greatly benefit a family going through the very difficult period of adjustment after the loss of a parent and beyond. As a licensed insurance broker, we can help! Contact Lindsay Newton to learn more.

We would like to share the following article taken from the Financial and Consumer Services Commission website. Canadian Anti-Fraud Centre Bulletin: SIN Extortion The CAFC is noting an increase in telephone calls where fraudsters claim that your Social Insurance Number (SIN) has been blocked, compromised or suspended. Fraudsters may add that this is due to your SIN being linked to fraudulent or criminal activity.... Canadians who receive these calls are asked to provide their SIN and other personal & financial information (DOB, name, address, account balances, etc). Victims who provide their personal information to fraudsters are at risk of identity fraud. Some fraudsters may also press or trick Canadians into withdrawing and depositing their money into a safe account where it cannot be frozen or seized during their investigation. None of the information they provide is true. These fraudsters are mostly pretending to be calling from government agencies. Some popular examples include: Service Canada, Department of Justice, Canada Revenue Agency, Government of Canada, and RCMP, amongst other agencies. As well, the fraudsters are manipulating the caller ID to display phone numbers starting with your area code or the legitimate phone number of these agencies. Warning signs Criminals use call-spoofing to mislead consumers. This technology is easily available. Do not assume that phone numbers appearing on your call display are accurate. No government agency will contact you and tell you that your SIN is blocked. How to protect yourself Never provide personal information over the phone to an unknown caller. If you provide personal information, contact Equifax and Trans Union to place fraud alerts on your accounts. Learn more tips and tricks for protecting yourself. If you think you or someone you know has been a victim of fraud, please contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or report online at www.antifraudcentre.ca.

Another great article from Sun Life that we wanted to share.

Here is a great article from Sun Life that we wanted to share.

Stormy markets? Don’t let your emotions guide you The markets are yo-yoing, causing significant fluctuations and testing your peace of mind. What can you, as an investor, do? Stay on course and avoid emotional choices. Investments fluctuate. This is normal. Don’t get distracted by the highs and lows, and avoid making decisions based on your emotions: each slowdown has been followed by a rebound period. Therefore, you should be patient and disciplined. It is the key to reachi...ng your financial goals. It is completely normal to feel a variety of emotions in periods of stormy markets. Knowing this, it will be easier for you to deal with market fluctuations and avoid making impulsive decisions. In fact, by trying to predict what markets will do and relying on your emotions, you risk reducing your investment return. The cycle of investor emotions (see graphic above) shows that the best time to invest is when markets are low and the best time to sell or modify investments is when markets are high. Despite this, most investors let their emotions dictate their investment decisions and end up doing the opposite. An investor’s worst enemy is not the stock market but one’s self. Benjamin Graham, Economist Need help to stay on course? Follow these guiding principles Establish a long-term plan A long-term investment strategy adapted to your investor profile will allow you to remain disciplined and not give in to your emotions. Resist the temptation to modify your investments when markets are low. This will help you to not lose money. Remember that we have planning tools to help you establish your investment strategy. Diversify your investments Diversifying your investments among the various asset classes will enable you to obtain profitable returns while reducing risk, since your overall return will be less affected if some investments do not perform as well as planned. Our investment options offering includes a wide range of portfolios and funds of all types that allow you to diversify your investments. Take advantage of systematic savings By regularly investing set amounts through, for example, payroll deductions or preauthorized payments, you will establish your dollar cost average. Thus, when the cost of a fund unit is low, you might purchase more units and when the cost is higher, you might purchase fewer units. This rational purchasing method reduces stress and eliminates any hint of subjectivity from your purchasing decisions. This information was provided by IA Financial Group

We would like to share this article. Please be careful while shopping at this time of year. https://www.businessinsider.com/scams-people-most-likely-fa

Here is a link to a great article that we would like to share. https://www.linkedin.com//eleven-habits-supremely-happy-p/

Study shows Canadians are overwhelmingly underinsured According to new research from Canadian online insurance brokerage PolicyyAdvisor.com, an overwhelming majority of Canadians with dependents are significantly underinsured and have not acknowledged the severity of their situations.... In its inaugural State of the Nation: Canadian Life Insurance Trends 2019 report, the firm shared insights on consumer trends and attitudes surrounding life insurance ownership, needs, knowledge and digital appetite. The report drew from a SurveyMonkey panel of more than 500 qualified Canadian respondents who indicated they had financial dependents. The findings were eye-opening, to say the least, said Jiten Puri, founder and CEO of PolicyAdvisor.com. We had some general expectations about what we would learn, but some of the hard numbers paint a starker picture about financial unpreparedness than we had anticipated. Among those surveyed, nearly half (49%) said they had never purchased life insurance before. And of those who said they have a life insurance policy, 40% reported having coverage only through a work or group benefits plan. While a life insurance policy through one's employer is better than none at all, in most cases the coverage is minimal, and may be equivalent to only one or two years of the policyholder's salary, Puri said. Someone who leaves their workplace or association, he added, stands to lose their coverage as well as the early years they could have spent paying for individual coverage at a lower cost. While a group policy is a nice top-up, it should not be the primary source of one's coverage, he said. And while the Financial Consumer Agency of Canada (FCAC) prescribes having life insurance coverage that amounts to seven to 10 years of the policyholder’s annual salary, 91% of Canadians with dependents don’t meet that recommended level. Over half (54%) had coverage not exceeding two years of their annual salaries; just 22% said they had five years’ worth, and only 9% fell within insurance experts’ recommended range of 10 years’ worth of coverage. All in all, the survey found that the average Canadian with financial dependents had a self-reported life insurance shortfall of roughly $256,000 a gap that respondents have not done anything to address. These could be related to a broad lack of literacy and awareness, with just 35% of respondents saying they understand what’s included in their own policy and a mere 22% acknowledging that they review their life insurance needs every year. But on a positive note, technology appears to offer a path forward. Seventy per cent of Canadians surveyed indicated that they would use digital platforms to do research and/or purchase life insurance online. Article provided by Life Health Professional October 30, 2019

Do You Need Critical Illness Insurance? It may seem odd to think about Critical Illness Insurance when you are young and healthy, but it is important to consider it. Illnesses that would have ended in death many years ago are now being treated and cured. But surviving a critical illness can cause financial stress for many people.... The Cost of Surviving a Critical Illness Survivors have said that recovering from a critical illness during and after treatment wasn’t easy. In addition to family stress and physical challenges, a critical illness can also take a financial toll. Some people have experienced lost wages, unexpected medical costs, the need for home modifications and mobility devices. How Critical Illness Protection Can Help Critical Illness Protection pays out a one-time, lump sum, tax free benefit if you are diagnosed with one of the conditions covered. You can use the money however you wish. For some, these much needed funds replace a spouse’s income while they are recovering. Funds can be used for any unforeseen expenses. Many people have taken a vacation while they are recovering. Is Critical Illness Insurance Right For Me? Would you be able to handle extra expenses if you were diagnosed with a critical illness? Contact Lindsay Newton to find out if Critical Illness Insurance is right for you.

TFSA Tax-Free Savings Account In addition to an RRSP, a TFSA is also a beneficial instrument created by the Canadian government to facilitate personal savings. A TFSA has many benefits such as flexibility. TFSA’s allow you to save money shielded from tax for larger purchases, for example a home, home renovations, car, trip, etc and enjoy it whenever you wish. Features and Benefits Regardless of your income, you can contribute up to the maximum amount per year. In 2019 th...e maximum amount is $6,000 and will be indexed each year according to inflation. Also, your annual contribution room accumulates when not being used, total room since 2009 is $63,500. Your contributions and the returns they generate are not taxed, so your savings can grow tax-free. You can deposit tax-sheltered income, an inheritance, monetary gifts or investment income into a TFSA. You can withdraw as much money as you need without any tax penalty. TFSA’s are an excellent vehicle to save for your retirement when you have reached the ceiling of your RRSP contributions. If you have any questions about setting up a TFSA or other investment products please contact Lindsay Newton for more information. See more

How much insurance do you really need? It’s important to have the right amount and the right type of insurance to protect your family. Why do you need insurance? If your family relies on your income for daily living expenses, housing costs or educational expenses, then you need insurance to protect them should something happen to you.... Term vs. Permanent The two basic types of life insurance are term and permanent. Term insurance provides protection for a specific period of time term of the policy. Term insurance is usually 10, 20 or 30 years. Permanent insurance for example, universal life, provides coverage for life as well as an investment component. You can customize either of these products to suite your needs with riders or other protection products such as critical illness insurance. Making Insurance Affordable Most people have short term and long term protection needs. Short term needs can include mortgage protection or funds for post-secondary education for children. Long term needs can include covering final expenses and leaving funds for loved ones. You can layer your protection to ensure that you only pay for the protection that you really need. Needs Change When you are first starting out, your needs might be greater than when you are ready to retire. As you pay off your mortgage and your children complete their post-secondary education your need for protection decreases. Your cost for protection should also decrease. Contact Dorbar Insurance for your free no obligation consultation. See more

Here is a great article from Ivari about the benefits of Term Life Insurance vs. Mortgage Insurance. http://ivari.ca//the-top-3-reasons-why-term-insurance-pro/