Sun Life Global Investments reduces risk rating for Sun Life Real Assets Fund

ORONTO, Feb. 13, 2020 /CNW/ – Sun Life Global Investments (Canada) Inc. (“Sun Life Global Investments,” “SLGI”) today announced a risk rating change for Sun Life Real Assets Fund. Effective immediately, the risk rating for this fund has been lowered from “medium” to “low to medium.”

In accordance with the investment risk classification methodology mandated by the Canadian Securities Administrators, Sun Life Global Investments reviews the risk ratings of its funds at least once a year, as well as when a fund undergoes a material change.

The Sun Life Real Assets Fund’s risk rating changed following an annual review that was conducted as part of Sun Life Global Investments’ ongoing fund review process. While the fund will be renamed to “Sun Life Real Assets Private Pool,” effective on or about February 26, 2020, the investment objectives and strategies of the fund remain unchanged.

About Sun Life Global Investments (Canada) Inc. 
Sun Life Global Investments is a subsidiary of Sun Life Financial Inc. It offers Canadians a diverse lineup of mutual funds and innovative portfolio solutions, empowering them to pursue their financial goals at every life stage. We bring together the strength of one of Canada’s most trusted names in financial services with some of the best asset managers from around the world to deliver a truly global investment platform. As of January 31, 2020, Sun Life Global Investments manages $29.68 billion on behalf of institutional and retail investors from coast-to-coast and is a member of the Sun Life group of companies. For more information visit www.sunlifeglobalinvestments.com or connect with us on Twitter @SLGI_Canada.

About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2019, Sun Life had total assets under management of $1,099 billion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

© Sun Life Global Investments (Canada) Inc., 2020. Sun Life Global Investments (Canada) Inc. is a member of the Sun Life group of companies.

Media Relations Contact:
Alexandra Locke
Manager, Corporate Communications
T. 416-408-7357
Alexandra.locke@sunlife.com

SOURCE Sun Life Global Investments (Canada) Inc.

Related Links

http://www.sunlife.com

Government of Canada helps grain farmers manage risk and build public trust

Grains sector backed to develop export rejection insurance

The excerpted article was written by 

The organization representing Canada’s crops sector will get public funding to develop an insurance plan against the “unpredictability” of export customers.

Federal Agriculture Minister Marie-Claude Bibeau, speaking Wednesday at the CropConnect conference in Winnipeg, announced over $430,000 for the Canada Grains Council to develop a pilot insurance product for grain exporters.

Such an insurance plan would go to “address the risks they face of having their shipments rejected at the border of the importing country,” the government said.

Ottawa “wants to insure that grain farmers are protected against the unpredictability of the international market and the risks of regulatory trade barriers, particularly around the input residues on seeds,” the government said in a release.

The council will also get $789,558 toward developing a voluntary “code of practice for farm production of Canadian grains.”

The guidelines to be developed “will help farmers encode the best practices to follow to be considered sustainable, for both market and public trust purposes,” the government said.

The codes for crops would “cover a range of topics, including fertilizer management, pesticide use, soil management, farm workers and protection of wildlife habitat, as well as food safety and work safety.”

‘Market readiness’

The Canada Grains Council, in operation since 1969, represents the crops value chain nationwide and is tasked with spearheading efforts to boost sales and use of Canadian grain in domestic and international markets.

Public money for the CGC’s insurance project will flow through AgriRisk Initiatives (ARI), a five-year, $55 million program to support development of new risk management tools through the federal/provincial; Canadian Agricultural Partnership funding framework.

The code of practice project will be backed via the federal AgriAssurance program, budgeted for up to $74 million over five years to help ag sector groups develop “systems, standards and tools that enable them to make credible, meaningful and verifiable claims about the health and safety of Canadian agricultural and agri-food products, and the manner in which they are produced.”

Codes of practice for production aren’t new to Canada’s ag sector; similar codes for care and handling of various types and breeds of livestock are today being developed and updated by the National Farm Animal Care Council, which was set up in 2005.

The $1.2 million total funding envelope announced Wednesday for the grains council is expected to help address “two key issues facing the sector: better risk management tools and market readiness,” Bibeau said in the government’s release.

“Despite Canada’s solid reputation worldwide as a high-quality and trustworthy provider of grain and oilseed products, we cannot take this for granted,” CGC president Tyler Bjornson said in the same release.

“Exploring new ways to help producers and industry address market access risks, as well as maintain consumer confidence that we are doing the right things to produce sustainable and safe food, are an essential part of our long-term strategy as a sector.” — Glacier FarmMedia Network

Source: AGCanada.com

Cost of Love in Canada 2020: Nearly 1 in 5 Canadians Admit to Financial Infidelity

Cost of Love in Canada 2020: Nearly 1 in 5 Canadians Admit to Financial Infidelity

TORONTOFeb. 5, 2020 /CNW/ – One in five Canadians are committing financial infidelity by keeping a secret around money or spending in their relationship, according to a new Cost of Love survey from Rates.ca.

Money misrepresentations are most common among millennials, with almost 30 per cent of younger Canadians admitting to financial infidelity, and men are more likely (19 per cent) than women (13 per cent) to lie about money. Canadians who are dating or engaged are more likely to have a financial secret than those that are separated or married.

Three in ten (31 per cent) Canadians are hiding purchases they make from their significant other. Almost one-third are concealing their poor credit score, 21 per cent have hidden cash, 14 per cent have hidden bank accounts, and 10 per cent have a secret line of credit or a long-term loan.

“Hiding a poor credit score or a large sum of debt can have consequences in the future. Especially for partners buying their first home or financing a car. Being transparent and taking the right steps to manage debt or correct poor credit can prevent disappointment and further financial woes,” said Sara Kesheh, Vice President, Money, Rates.ca.

The survey also revealed that nearly half (47 per cent) of those in a relationship, say the value of their financial secret is $1,000 or more. Almost one in five admitted that their financial secret is $10,000 or more.

Dealing with Financial Infidelity

Half of Canadians with a financial secret believe nothing would happen if their significant other were to discover the secret.

Another 22 per cent say the worst consequence would be to fight and find a solution, two per cent feel it would result in a break-up, and only one per cent say it would result in divorce.

Whether you’re getting married, making a major purchase together or combining finances with a partner, Kesheh offers expert advice to avoid disagreements over money.

  • Talk about debt: Working as a team to manage the debt can help pay down the principal faster and accrue less interest on the balance. That won’t be an option for everyone; however, ignoring the debt could turn a small problem into a big one.

  • Create a budget: Track your spending to form an accurate budget. Be aware of how much income is coming in versus how much money is being spent. From there, pinpoint areas where you can cut back and create a plan for paying off the debt.

  • Use financial resources: Carrying a balance on a standard credit card can run the risk of the debt growing faster than it can be paid off. Many resources can help make the debt more manageable, including low-interest credit cards or balance transfer options. The key is never to skip a minimum payment and to pay more when you can.

  • Be a team: If you are on the reverse end of the secret, try to be patient, constructive, not critical, listen to what your partner needs and, most of all, be supportive.

The survey also revealed:

  • Of the four per cent of Canadians who are engaged, 24 per cent have a financial secret. Of the 11 per cent of Canadians who are dating, 23 per cent have a financial secret. Only 14 per cent of those separated or married are hiding their finances.
  • Married or separated couples are more likely to have financial secrets below $1,000, at 46 per cent and 53 per cent respectively.
  • Couples who are dating or engaged are more likely to have secrets valued at $1,000 or more, at 59 per cent and 53 per cent respectively.
  • Among Canadians with a financial secret: eight per cent have a secret credit card, nine per cent have secret investments, seven per cent have credit rewards points they haven’t told their significant other about, and five per cent have a secret payday loan.

To review the findings, visit Rates.ca.

About the Survey
An online survey of 1600 Canadians was completed between January 3 – 6, 2020, using Leger’s online panel. The margin of error for this study was +/-2.5%, 19 times out of 20.

About Rates.ca 

Rates.ca is Canada’s one-stop-shop for the best rates on insurance and money products. Rates.ca publishes rates from 30+ insurance providers so that shoppers can find the best rates for themselves. Use the site to find the best rates for auto, home and travel insurance, mortgages, and credit cards. Headquartered in Toronto, Ontario, Rates.ca is located at 360 Adelaide Street West, Suite 100, Toronto, ON, M5V 1R7

SOURCE Rates.ca

Related Links

https://rates.ca/

Will travel insurance cover coronavirus? Experts break down why and why not

The excerpted article was written by  

The decision to travel amid a viral disease outbreak can be harrowing, but that’s what purchasing travel insurance is for — right?

According to experts, it depends on when.

The general consensus is that the coronavirus will be covered by travel insurance providers as long as the insurance was purchased prior to a government “no non-essential travel” or “do not travel” advisory.

John Shmuel, managing editor at Lowestrates.ca, said that whether or not insurance will cover disease outbreak is less about the coronavirus itself being covered, as much as it is the conditions surrounding when a person is travelling — in this case, flying to a country for which the Government of Canada has issued a travel advisory, specifically China.

“It’s not coronavirus that’s being covered per se, it’s any medical emergencies,” he said.

“If you’re buying travel insurance right now, most consumer policies will deny you because there is an advisory in place.”

Shmuel said a variety of consumer policies include epidemics and pandemics, provided consumers purchase insurance before they happen.

Those looking to purchase travel insurance after the government advisory change may be out of luck.  However, “if you bought your insurance before this outbreak happened, before the advisory, and you get sick, then your insurance company will cover it, they’ll cover your treatment there, and they’ll likely fly you back home,” Shmuel said.

He added that trip cancellation insurance, which often goes hand-in-hand with travel insurance, could save someone thousands of dollars on typically non-refundable flights with major airlines.

n February, the Canadian government updated its China travel advisory, urging Canadians to avoid all non-essential travel in and out of the country.

In the province of Hubei, the advisory was updated to “avoid all travel,” including the cities of Wuhan, Huanggang and Ezhou, due to the imposition of heavy travel restrictions in order to limit the coronavirus from spreading.

The Canadian government said many of the initial cases of the disease outbreak were linked to the Huanan Seafood Market (also known as Wuhan South China Seafood City and South China Seafood Wholesale Market). The market was closed Jan. 1 for cleaning and disinfection, but the source of the virus is still unknown.

Chinese health authorities and the World Health Organization (WHO) confirmed the disease could be spread from human to human and that transmission is occurring, but it is unclear how easily the virus is transmitted between people.

So far, the latest figures show 24,642 cases and 493 deaths.

Anne Marie Thomas, an insurance expert with Insurance Hotline, told Global News there are many reasons an insurer wouldn’t cover disease outbreak following a ‘do not fly’ travel advisory, but it boils down to this: anybody travelling once a travel advisory is in place is making a choice to proceed to an area in which they could get sick.

“Travel insurance is designed to protect you from unexpected or unanticipated illness or delays,” she said. ”

If there is a travel advisory in place, it’s not going to be something that’s unexpected, like if you get sick over there or if your flights get cancelled.”

To her knowledge, Thomas said there are no “cover-all” insurance policies that will waive a government travel advisory. Those required to travel for work purposes, like diplomats or medical officials, for example, could have specialized insurance provided through their employers that would cover the viral outbreak.

Could the coronavirus affect your finances?

Thomas said the coronavirus could have “an extremely detrimental effect” on a person’s finances if they were to get sick abroad without already-purchased travel insurance.

Hospital and ambulance bills, medication costs and flights could amount to hundreds of thousands of dollars in certain countries.

“A simple hospital stay, if you think about it even in the U.S., if you had a hospital stay with tests and medications, that could be tens of thousands of dollars for one day,” she said.

“You pay a little bit of money to purchase a travel insurance policy and that protects you financially from potential devastation.”

Company Expands Specialized Insurance Product Lines into Canada in Response to Rising Demand

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Western Financial Group continues expansion into Ontario

Orr & Associates latest brokerage acquired by Western as they continue their strategic growth

HIGH RIVER, ABFeb. 4, 2020 /CNW/ – Western Financial Group (Western) is pleased to share news of their acquisition of Orr & Associates.

Effective January 31, 2020, Orr & Associates and their two retail locations in southern Ontario are now part of the Western family. This latest acquisition continues Western’s strategic expansion into Ontario, growing the total number of offices to 11 in the region and continuing to position Western on a path of growth and expansion across Canada.

Established in 1912, Orr & Associates is dedicated to personal, commercial, and life insurance. Like Western, they work with insurance partners across Canada to provide custom-fit insurance coverage for their customers. With two branch locations and a strong online presence, Orr & Associates diligently services more than 5,000 customers to ensure they have the right coverage for their specific insurance needs.

“It is an exciting day to have Orr & Associates join our growing team,” says Kenny Nicholls, President & CEO of Western. “Orr & Associates have established themselves as an innovative leader in their area of expertise. We are happy to have them on-board with us helping Western to continue to expand our scope in the Canadian insurance market.”

Orr & Associates and Western share important values and a strong focus on customer service, putting customers and people first. With a history of volunteerism and community sponsorships, Orr & Associates understands that strong connections to community and customer service excellence are the foundation of success.

“As the insurance experts who create security and provide the right protection for all Canadians, Western is committed to expanding its physical presence across Canada and ensuring that Canadians get the best advice for their insurance needs,” says Kenny. “Adding Orr & Associates to our team enriches our commitment to this.”

“Joining Western is the right fit for us as a group,” says Ken Orr, Owner of Orr & Associates. “We share common values and business interests and becoming part of the Western family will be beneficial for our people. We are looking forward to this new era for Orr & Associates.”

“We are excited to work with Western to elevate our organization and people and to help support Western’s mission and vision,” says Keith Wilson, Owner of Orr & Associates. “Partnering with Western is a win-win and we are pleased to be part of the growing team.”

Orr & Associates

Orr & Associates is an independent broker network offering personal, commercial, and life insurance to customers in southern Ontario. Originally founded in 1912, the agency grew and evolved until its acquisition by Gordon Orr in 1984. Ken Orr purchased the agency from his father in 1992 and brought in business partner Keith Wilson in 2007. The agency has two branch locations and 16 team members serving King City and Schomberg, just north of Toronto.

Western Financial Group Inc.

Western is a diversified insurance services company that has been caring for the insurance needs of over one million Canadians for more than 100 years. Headquartered in High River, Alberta, today, Western provides personal, business and life insurance services through more than 180 locations, affiliates, and online, with a skilled and growing team, providing the right protection for all Canadians.

Western is a subsidiary of Trimont Financial Ltd., a subsidiary of The Wawanesa Mutual Insurance Company.

SOURCE Western Financial Group

Related Links

http://www.westernfinancialgroup.ca

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