For love and money: Financial chemistry helps create winning formula

Two-thirds of Canadian couples link financial stability to relationship success: RBC poll

TORONTO, Feb. 13, 2020 /CNW/ – Successful long-term commitments rely on strong financial compatibility as well as romantic chemistry, according to the RBC 2020 Relationships & Money Insights Poll. The majority of Canadians with partners (85%) felt that having similar financial goals and habits was a prerequisite to their healthy, long-term relationships. Four-in-five (80%) believed it was important to speak with a prospective partner about finances before getting involved in a serious relationship.

In addition, the vast majority (91%) underlined the importance of prospective partners thinking along the same lines when it comes to spending and saving money, with almost two-thirds (62%) saying that the state of a potential partner’s finances could be a deal-breaker.

Setting clear financial boundaries was also a top priority (81%), with over two-thirds (69%) admitting that they would not combine their finances with their partner’s unless they knew that partner was financially stable.

“When you’re committing to a relationship, you’re inviting that special someone into your life, along with their finances,” says Sandra Abdool, Regional Financial Planning Consultant, RBC Financial Planning. “That’s a lot of sharing, and as a couple, it’s important to set clear financial boundaries to make sure you’re on the same page when it comes to spending, saving and managing your money.”

When it comes to fraternizing with your partner about your finances, it’s not just about what you say, but how often you say it, too. More than three-quarters (77%) of Canadians in relationships reported they speak with their partners about finances at least monthly, to create shared budgets (45%), come up with financial goals (41%) and save together (37%).

“While chemistry certainly counts, today’s couples want financial chemistry and compatibility, too,” adds Abdool. “By having frequent and honest conversations about your finances, you’re well on your way to building a sound financial and long lasting relationship together. Then go a step further – take time to do a reality check with a financial planner who can offer an outside perspective on financial compatibility.”

Here are tips from RBC to help Canadian couples stay on the same page and reach their financial and life goals together:

Find the budget that’s right for you: Discussing finances and setting clear financial goals and boundaries are important for any relationship. By coming up with a shared, realistic budget, Canadians can ensure they are on track with their partners, while leaving little room for surprises down the road. NOMI Budgets takes the thinking — and the manual calculation — out of setting up a budget for RBC clients. It focuses on five key categories and keeps the client on track by sending regular updates through the RBC Mobile app’s budget tracker.

Say “I do” to a shared financial plan: Creating a detailed financial plan and sharing this with your partner can help you work together to reach shared savings goals. Here’s where RBC Financial Planning can provide advice to help ensure money is there for you and your partner at various stages throughout your life together – for example, buying a car, getting a mortgage, raising a family and planning for retirement.

Invest for the future: Having a 20-minute conversation with a financial planner or advisor – in a bank branch or from the convenience of your home or office – can help you break the ice with your partner and begin talking about your shared financial goals. RBC’s MyAdvisor is an online financial advice service that connects you wherever you are with RBC financial planners and advisors who can give you guidance about how to build your financial future.

National and Regional Findings: RBC 2020 Relationships & Money Insights Poll

POLL QUESTIONS

CAN

BC

AB

SK/MB

ON

QC

AC

Finances are an important aspect of any
relationship. (Agree)

85%

83%

84%

90%

86%

85%

89%

I believe that it is important to regularly talk to
a partner about finances. (Agree)

87%

85%

89%

90%

89%

83%

94%

It is important to talk finances with a partner
before starting a serious relationship. (Agree)

80%

77%

83%

87%

82%

75%

85%

How often do you talk about your finances
with your partner? (At least once a month)

77%

83%

76%

76%

77%

74%

83%

What are you currently doing with your partner
re: your finances? (Budgeting together)

45%

42%

44%

50%

50%

35%

47%

What are you currently doing with your partner
re: your finances? (Setting financial goals)

40%

44%

51%

48%

44%

29%

31%

What are you currently doing with your partner
re: your finances? (Saving together)

37%

40%

45%

41%

41%

26%

31%

It’s important my partner and I are aligned on
how we spend and save our money. (Agree)

91%

89%

95%

94%

92%

87%

98%

Any deal-breakers in a relationship re:
partners’ financial situations (e.g. poor
spending habits, big credit card debt,
different financial priorities, no savings)?(Agree)

62%

64%

67%

61%

65%

57%

59%

I believe that having similar financial goals
and habits is a requirement for a healthy
long-term relationship. (Agree)

85%

79%

84%

90%

87%

81%

89%

I wouldn’t combine my finances with partner
unless they were financially stable. (Agree)

69%

65%

71%

75%

67%

74%

59%

The more financially stable my partner is, the
more likely they’re a long-term romantic option
for me. (Agree)

66%

60%

63%

68%

69%

65%

71%

About the RBC 2020 Relationships & Money Insights Poll
An online survey of 1000 Canadians who are married, common law, or in a dating relationship (either long or short term) was completed between January 3 and 11, 2020 using Leger’s online panel. The margin of error for this study was ±3.1%, 19 times out of 20.

Related Links

http://www.rbc.com

Canadian Premier Life Insurance Company acquiring Gerber Life Canadian insurance business

TORONTO, Feb. 13, 2020 /CNW/ – Canadian Premier Life Insurance Company (‘Canadian Premier’) announces it has signed an agreement with U.S.-based Western & Southern Financial Group (‘Western & Southern’) to purchase its block of Canadian life insurance business, marketed under the Gerber Life brand. Closing of the purchase is expected to take place in the Second Quarter, 2020, subject to regulatory approval.

“This is an exciting acquisition for Canadian Premier as we focus on growing in the Canadian marketplace,” says Canadian Premier Chief Executive Officer Suzette Huovinen. “We are invested in Canada and in pursuing opportunities that expand our footprint beyond our core group creditor insurance business. Canadian Premier is well positioned to support the diverse market need for both life and specialized protection.”

The block of business from Western & Southern includes individual life insurance policies, primarily the Grow-Up® plan, which are whole life policies geared towards children 12 years of age and under. Upon closing, the Gerber Life Canadian policies will be fully assumed by Canadian Premier.

Adds Huovinen: “Canadian Premier is committed to providing financial security to families throughout moments that matter. We look forward to welcoming a new generation of customers to Canadian Premier and providing them excellent products and services.”

About Canadian Premier
For more than 60 years, Canadian Premier has been committed to providing financial security to Canadians and their families in the face of uncertainties. Canadian Premier offers group life, accident & sickness, credit and creditor insurance solutions to a number of leading financial institutions, retailers and affinity groups. We now insure over 2 million Canadians and families coast-to-coast. Canadian Premier is wholly-owned subsidiary of Securian Financial Group. For more information visit www.canadianpremier.ca

SOURCE Canadian Premier Life Insurance Company

Japan confirms 12 Canadians on cruise ship infected with novel coronavirus

By Laura Osman

THE CANADIAN PRESS

OTTAWA _ Japanese authorities might soon allow people quarantined aboard the Diamond Princess cruise ship near Tokyo, where 12 Canadians have contracted the novel coronavirus, to disembark and finish out their isolation on land.

The 3,500 passengers on the ship have been under quarantine since last week, and so far 218 have tested positive for the disease, which the World Health Organization has dubbed COVID-19.

It’s the biggest concentration of confirmed cases outside of mainland China, according to the World Health Organization

The 12 Canadians who contracted the virus on board the ship have been moved to Japanese health facilities, and at least three require hospitalization, Champagne said.

Champagne said emergency response teams and consular officials are in Japan to make sure Canadians are receiving the help they need.

“We know that there are some people who need medications on board, they want to have contact with their families, we’re facilitating that,” Champagne said at a briefing in Senegal, where he is on a diplomatic trip.

Canada has also dispatched health officials to Japan to co-ordinate with local public health authorities.

Japan plans to move passengers who wish to leave the ship in phases, with the most “medically vulnerable” guests being moved in the first phase, according to Princess Cruises, the line that owns the Diamond Princess.

That first group of people will be tested for the virus, and if they test negative will be taken to a quarantine housing facility, the cruise line said in a press release.

If they test positive they’ll be moved to a health facility.

The shore-side quarantine centre will include individual rooms with private bathrooms, and while passengers will continue to receive their medical prescriptions they will not have access to specialized or western meals. They will be served Japanese bento boxes for the duration of the quarantine, according to the release.

Everyone who wishes to stay on the ship will be allowed to do so.

Champagne said about 250 Canadians on a separate cruise ship off the shore of Cambodia, the Westerdam, have tested negative for the coronavirus and will be returned to Canada at the expense of the cruise line, Holland America.

As for Canadians still in the centre of the viral outbreak, Champagne said all the 400 or so Canadians who wished to leave Hubei, the Chinese province that includes the city of Wuhan, have been repatriated and are quarantined in southern Ontario, at Canadian Forces Base Trenton.

There are still permanent Canadian residents in Hubei, he said. Though Chinese authorities initially stipulated that only Canadian passport holders would be able to leave the quarantined region, they seem to have relaxed that rule, Champagne said, but he did not elaborate on whether Canada would make arrangements to fly more of them out.

The last flight chartered by the Canadian government to evacuate people from the city of Wuhan, which landed at CFB Trenton on Tuesday, was the last the government plans to send to the region. Those Canadians who chose to stay behind in Hubei have been provided with consular services, Champagne said.

Sun Life fourth quarter profits surge 24 per cent to $719 million

TORONTO _ Sun Life Financial met expectations as its net income surged 24 per cent to $719 million in the fourth quarter.

The Toronto-based insurer says it earned $1.22 per share in the three months ended Dec. 31, up from 96 cents per share or $580 million a year earlier.

Excluding one-time items, underlying earnings grew 10.3 per cent to $792 million or $1.34 per share. That compared with $718 million or $1.19 per share in the fourth quarter of 2018.

For the full year, its net income rose 3.8 per cent to $2.62 billion.

Underlying profits rose to $3.6 billion or $5.16 per share, up from $2.95 billion or $4.86 per share in 2018.

The fourth-quarter and full-year results matched analyst forecasts, according to the financial markets data firm Refinitiv.

This report by The Canadian Press was first published Feb. 12, 2020.

Canucks honour Daniel and Henrik Sedin with jersey retirement ceremony

By Carol Schram

THE CANADIAN PRESS

VANCOUVER _ They hold every significant scoring record in Vancouver Canucks franchise history. Now, after 17 seasons in Canucks uniforms, Daniel and Henrik Sedin have their numbers hanging in the rafters at Rogers Arena.

Wednesday’s retirement of Daniel’s No. 22 and Henrik’s No. 33 was the focal point of the Canucks’ year-long 50th-season celebration, and the highlight through three games of Sedin Week festivities.

The high level of respect commanded by the Sedin twins was made clear by the collection of VIPs on hand for the ceremony. Special guests included Canucks owners Francesco and Paolo Aquilini, NHL commissioner Gary Bettman and deputy commissioner Bill Daly, as well as the Sedins’ parents, older brothers, wives and children to go along with past and present general managers and former teammates.

The sold-out crowd at Rogers Arena rose to its feet for the first time for the introduction of Trevor Linden, the one-time team captain who returned as team president in 2014 and parted ways with the team in 2018. The cheers continued for Markus Naslund, whose number also hangs in the rafters, and the representatives of the Presidents’ Trophy-winning seasons in 2011 and 2012, particularly Kevin Bieksa, Ryan Kesler and Roberto Luongo.

To the strains of U2’s “Where the Streets Have No Name,” the Canucks’ introductory song from those peak years, Daniel and Henrik waved to the cheering crowd as they walked to centre ice to along a carpet flanked by some of the awards they collected over the years the Art Ross Trophy that Henrik won in 2009-10 and passed along to Daniel one year later, the King Clancy Trophy that Henrik captured in 2016 and the twins shared in 2018, the Hart Trophy that Henrik won in 2010, the Ted Lindsay Award (formerly the Lester B. Pearson Trophy) that Daniel took home in 2011, and the pair of gold medals that the twins won with Sweden at the 2006 Winter Olympics.

Bieksa started the proceedings with a tribute that poked fun and was also heartfelt, emphasizing the impression the twins left with their accountability, work ethic, and their kindness.

“We love you guys,” he concluded.  “There’s no one more deserving of this honour. ‘Sk?l!”’

“When I was asked to speak on their behalf, regardless of how you feel about it, you say yes, because it’s just an honour to be a part of this night,” Bieksa said after the ceremony. “I’d do anything for Danny and Hank.”

“They’re such good people,” added Ryan Kesler. “Honestly, the two nicest people in hockey. I can’t say a bad thing about them, and they taught me so much, just by watching them. Just the way they were and how charitable they were off the ice. For them to ask me to come here, I didn’t even think twice.”

The twins’ efforts in the community are well-documented, including a $1.5 million donation in 2010 to help build a new B.C. Childrens’ Hospital. On Wednesday, it was announced that their Sedin Family Foundation was partnering with the Canucks for Kids Fund on a new legacy project that would be responsive to the community’s needs on an annual basis.

When Henrik took the microphone, he walked the audience through the twins’ 17-season NHL journey, starting from when they thought they’d be going to separate teams at the 1999 draft in Boston before Brian Burke swung a monumental trade to bring them both to Vancouver.

With the current Canucks watching from their bench, Henrik paid tribute to the coaches and mentors that helped shape their games. Daniel stepped in to thank ownership, teammates and support staff, then the brothers took turns paying tribute to their families before thanking the fans.

“To the people of British Columbia, we came here in 1999 and it felt like home from Day 1,” summed up Henrik.  “We want to thank you. To play in front of you has truly been an honour.

“To the best fans in this league, we will now join you in cheering for this team when they go for the Stanley Cup.”

After that, it was time to raise the banners. With family and friends surrounding them, the Sedins watched their numbers ascend to the rafters in Rogers Arena, next to Markus Naslund’s No. 19, Pavel Bure’s No. 10, Trevor Linden’s No. 16 and Stan Smyl’s No. 12.

Province provides green light to automobile insurance hikes

The excerpreted article was written by Brian Passifiume | Toronto Sun 

Regardless to be amongst Canada’s most dependable motorists, Ontario motorists will begin to spend additional to guarantee their particular autos.

Ontario’s Monetary Companies Regulatory Authority (FSRA) authorised charge hikes for 21 coverage businesses — representing roughly 40% of this province’s motorists — in a quarterly report published into the authority’s web web site last thirty days.

On common, customers might find their particular premiums get up by 1.6% through the whole market — straight down through the two.6% improve authorised inside the 3rd one-fourth of 2019.

Some motorists could see their costs enhance by as a great deal as 10% — and also 11% — as it is the truth with customers of COSECO Insurance coverage Co. and Scottish and York Insurance coverage Co. of Canada, correspondingly.

Hikes for every businesses took influence in the beginning of February.

Different insurers authorised for fee will boost embody Continental Casualty Co. (eight%,) Assure Co. of North America (7.5%,) SGI Canada (practically 10%) and Intact (5%.)

Ontario will continue to position one of many costliest provinces in Canada to guarantee a automotive.

Knowledge from automobile insurance coverage aggregator Kanetix shows premiums in north and east Brampton typical round $2,593 per 12 months — the greatest inside the country or over about $100 when compared with a 12 months in past times.

Neighbourhoods in north Toronto have observed their fees surge, with yearly costs from Rexdale east to Black Creek hovering round $2,590.

On common, Ontarians pay $1,505 per 12 months in automobile insurance protection, as a result to figures from the Basic Insurance protection Statistical Company.

British Columbia remains ideal on typical, at $1,832 per 12 months.

In Alberta, the put the UCP authorities not long ago scrapped laws and regulations capping advanced will boost at 5% annually, insurance plans common round $1,316.

The speed hikes in Ontario come less than a 12 months after previous finance minister Vic Fedeli, throughout their unveiling for the province’s 2019 funds, hinted at making ‘transformative changes’ to auto coverage.

Invoice 42, suggested final 12 months by Computer MPP Parm Gill, named for an finish to advanced hikes primarily based on geographical area. The charge passed 2nd learning final March and are at the minute sooner than committee.

bpassifiume@postmedia.com

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