When a loved one passes away and leaves behind an inheritance, the decision of what to do with the windfall is often a very difficult one to make. While everyone has a unique financial situation, here are a few potential routes you can take to make the best use of your loved one’s. Pay off debt More often than not, reducing or eliminating your debt is the safest and most effective use of an inheritance. In the event that you have various debts, or various options for using your inheritance, consider prioritizing debt with the highest interest rate first – credit cards, car loans, etc. Depending on the type of debt you’re carrying and the other options available to you, you may also consider paying a smaller portion of debt off and utilizing some of your inheritance elsewhere. Help your children If you have children who are dependent,...
According to the Heart and Stroke Foundation’s 2014 Report on the Health of Canadians, 9 out of 10 people carry at least one risk factor for heart attack and stroke. Beyond heart-related cases, there are a myriad of potential medical emergencies that can happen at home, work, school – anywhere. Consider these five ways to be more prepared for medical emergencies: Establish emergency contacts Everyone in your household should have easy access to a comprehensive list of contact information for anyone who should be notified or consulted in the event of a medical emergency. Doctors, your provincial telehealth line (if available), your provincial poison control centre, nearby family and friends and workplaces. If you or someone you are with is experiencing a medical emergency that may be life threatening, do not hesitate to dial 9-1-1. Keep track of medication, allergies, and medical conditions If you or anyone in your household...
In the event there is a strike by the Canadian Union of Postal Workers, we will endeavor to provide continuous service to our Districts, policyholders and partners. Please read the following information to help you manage your account and to help ensure minimal disruption in service should a strike should occur. If you need to: Submit a form, change request or claim to Teachers Life Insurance: please send us the information by courier, email at insuring@teacherslife.com, or fax (416-620-6993). Make an annual payment: please register or log into the Members Site to make a convenient one-time payment by credit card. To get rebates, update your address and/or email, and access Beneficiary Change forms log into the secure Members Site. If you have further questions regarding the possibility for interrupted service, or are expecting information from Teachers Life, such as policy documents or a Premium Due Notice please contact us...
While it is best practice to review your personal finances regularly, the life of an educator is often incredibly busy. The work day doesn’t begin and end when the bell rings, and as in many professions, achieving work/life balance can be a challenge. For those who want to make time but can’t seem to, here are five big opportunities for a personal financial checkpoint: 1. Family Day Weekend On an extended weekend dedicated to family time, consider making time to ensure you have the optimal coverage to protect your loved ones. There’s no better opportunity than that long weekend in February for a mid-school-year personal finance review. 2. End of the School Year With your report cards done and another successful school year in the books, carry that momentum into the summer by sitting down to review your finances. Plus, if you’re putting up the “gone fishin’” sign, heading up...
