Today we have insurance industry insider, Laura McKay on the show, who reveals some of the top tricks and tactics used in the insurance industry, to keep us overpaying.
She covers what to look out for, and what we can actually do on our end to make sure that we get the best rates possible, and aren't overpaying for insurance that we may not even need.
Laura used to work as an actuary, and is now the Co-founder and President of PolicyMe, which is a great tool for Canadians that you can use for free to see how much insurance you actually need.
It also tells you if you are overpaying for insurance, or if you are underinsured and taking on a lot of unnecessary risk in case something was to happen to you. I also really like how it lets you comparison shop different insurance providers without having to fill out countless insurance forms for each individual insurance company that you want a quote from.
Enjoy the episode. You'll learn a lot of actionable insider information that can potentially save you thousands of dollars long-term.
PolicyMe's free tool to find out how much insurance you need and find out if you are overpaying or are underinsured. The tool also lets you easily comparison shop between different insurance providers to ensure you get the lowest rate.
Top Tools and Resources for Financial Independence (for Canadians): All the top tools and sites that I’ve personally used to help us achieve financial independence in our early 30s. They’re also what we use now to optimize and manage our finances, and ensure that we’re paying the lowest fees while getting solid returns on our investments.
Canada’s Top ETFs Guide & Top High-Interest Savings Account: In the guide, I go over what I personally invest in and why I invest in it. The investments that I talk about are literally where we have almost our entire net worth (apart from our house), and is what we are primarily living off right now in our early retirement. At the very least you’ll learn about some great ETFs to consider for your portfolio, and if you are new to ETFs, it’ll give you a nice list of some top ETFs to consider from the thousands that are out there.
The guide is available for free to any listeners that that use this link to sign up for a free savings account with the bank that I personally use, EQ bank.
The reason that I personally use EQ bank, is that they have one of the highest interest savings rates in Canada (they are currently offering 2.3% which is more than double what the major banks are offering).
It’s also free to sign up and keep an account with them, so you’re not paying a monthly fee like you do with many of the other banks out there. You also get unlimited transactions, unlimited Interac e-transfers, and can take out your money at any time if you need it, and there are no minimum balances.
Because of those reasons, I’ve been with them ever since they launched in Canada years ago, and it’s where I keep my entire emergency fund and spending money.
To get the free high-interest account and the free guide on the top ETFs in Canada, just go to buildwealthcanada.ca/eq, open the free account, and once you’re done, forward any email that you get from EQ to firstname.lastname@example.org and I’ll send you the full comprehensive guide for free.