Teachers Life sent two students to Me to We's Take Action Camp this summer! In the spring we took applications from Ontario students aged 9-18 for two scholarships for a week at Me to We’s Take Action Camp. Our winners were the amazing 17 year-old Jathusha Mahrenthirarajan and the delightful 12 year-old Falak Somani! Teachers Life staff were so happy to hear that the campers had an inspiring time and we are thrilled to share with Members letters from both girls about this unique summer camp experience. Read Jathusha’s letter: With the generous scholarship from Teachers Life, I was able to do the two-week L.I.T (Leader In Training) program at Me to We’s T.A.C (Take Action Camp) this summer. T.A.C is a home like no other for youth who are passionate to the core about “being the change they wish to see in the world”. These two weeks, I have believed...
In our Women & Financial Wellness blog series, we’ve been discussing simple tips and tools for making smart choices with your money. Throughout the series, we’ve shown how life insurance can be an important financial tool to protect your family’s financial future. Still, many myths exist about life insurance. Here are 5 common misconceptions about life insurance and the myth-busting facts that dispel them. Myth #1 Life Insurance Is Expensive Perhaps the most common misconception about life insurance is that a good policy will be prohibitively expensive. But the truth is a shocking 80 per cent of consumers overestimate the cost of life insurance (lifehappens.org, 2015). Of course, prices vary by the type of product you buy. If your needs and budget are basic, there are good, reliable insurance products available with the essential features. Often these can start for as little as $6 per month. The best thing to...
Estate planning is the process in which a person plans the transfer of their estate they pass away. This can include property, money or investments. Wills are a common way a person establishes their wishes for how their estate will be distributed and taken care of after their death (Ontario Ministry of the Attorney General, 2020). Power of attorney, life insurance, trusts and living wills can also be important aspects of an estate plan. Estate planning is important because it can help ensure your wishes are understood. The distribution of your assets and life insurance payout can also make sure your family is financially supported in the event of your passing. Still, many Canadians do not have a signed will. Even among those who have an estate plan, many people don’t revisit or revise it, even as their needs change. Planning for your family’s future is not only important -...
Discussing life insurance with your spouse, parents or children can be tough. Talking about death and disability isn’t easy. So it’s no wonder that an online survey conducted in the U.S. found that parents would rather talk to their children about almost anything else, including drugs, alcohol and religion, rather than life insurance (LIMRA, 2012). It may not be easy, but talking about life insurance with your family is important. It can help you and your spouse create a solid financial plan, allow you to better understand if you have enough coverage to protect your financial goals, and help prevent confusion about your final wishes if you do pass away. Here are three tips for how to start the difficult conversation with your spouse, children and parents. 1. Make a date Whether you’re dating or have been married for several years, many financial advisors recommend couples set aside time to...
