Trip Cancellation

Why Should You Consider It?


Travellers tend to be so focused on going on their trip that they don’t think cancellation will be an issue for them. But Trip Cancellation & Trip Interruption or Trip Interruption coverage protects their travel investments. You may decide to decline Trip Cancellation & Trip Interruption because of its cost.
 
If that’s the case, there’s still an opportunity to introduce just Trip Interruption Insurance, which can cost as little as a taxi to the airport and can save you a lot of money (and stress) in the long-run. It is worth thinking about these scenarios:

What if you lose your job?

What if you miss your flight connection?

What if your travel companion gets sick and has to return home?

What if a family member is hospitalized while you’re away?


Related Posts

Covid Travel Updates

What the new government announcements mean for you. COVID-19 measures at the border are being eased. So what does that mean for you? Here’s what you need to know.  On February 28th the global avoid “non-essential travel” advisory will be lifted. Please keep in mind coverage is not provided in destinations that the Federal Government has issued an […]

Changes to the GAINS Benefit Rate Tables

Benefit period: April 1, 2019 to June 30, 2019 The GAINS rate tables have been updated to provide a ready reference of OAS/GIS/GAINS payments at specified levels of private income, depending on a senior’s status e.g., single or couple. Guaranteed Income Supplement Single pensioners: $1,582.77 monthly ($18,993.24 annually) Qualified couples, per person: $1,225.22 monthly ($14,702.64 annually) Read all about GAINS […]

Cost Plus

Cost Plus coverage provides designated plan members and their dependents with additional benefits for expense items that aren’t covered and for items that exceed current coverage amounts identified in the benefits program. Under a Cost Plus program, a Cost Plus claim is an expense that is an eligible drug, dental or extended health claim under the Canadian […]

Registered Pension / Savings Plan

Individual contributions to Registered Retirement Savings Plans (RRSP) and Registered Pension Plans (RPP) are tax deductible and not taxed until the funds are withdrawn. For RRSP and RPP plans, there is a maximum amount for what you can deposit in a given year. Tax-Free Savings Accounts (TFSA) are a government-regulated tax-free savings plan. Similar to the RRSP […]

Group benefit taxation

Each benefit, depending on what your employer provides, plus the percentage you pay versus the percentage your employer pays – makes it a taxable or a non-taxable benefit. Taxable Income Premium is a tax deductible expense (Employer) Employer contributions?1 Benefit payments to employee Group Life yes Taxable Benefit Non-Taxable Dependent Life yes Taxable Benefit Non-Taxable Wage-Loss Replacement […]

Workers’ Compensation Maximum assemble earnings subject to premiums

Workers compensation (WCIB) is a percentage of earnings that you are required to pay out of your paycheck if you ever need to draw on it. Maximum assessable earnings subject to premiums. Taxable Income 2018 2019 British Columbia $82,700 $84,800 Alberta $98,700 $98,700 Saskatchewan $82,627 $88,314 Manitoba $127,000 $127,000 Ontario $90,300 $92,600 Quebec $74,000 $76,500 New Brunswick […]

Ontario Individual Health Premiums

Ontario residents pay the health premium through the income tax system. The money collected through the tax funds Ontario’s health services. Taxable Income 2005 and later tax years $0.00 – $20,000 no premium $20,001 – $25,000 (taxable income – $20,000) x 6% $25,000 – $36,000 $300 $36,001 – $38,500 $300 + (taxable income – $36,000) x 6% […]

Canada Pension Plan (CPP)

The CPP provides retirement benefits to people who have worked and contributed to the plan. The CPP supplements your retirement savings plan. Contributions towards CPP are deducted from the individual’s pay. This chart specifies annual contribution limits for individuals based on the Canada Revenue Agency (CRA) guidelines. Benefits – CPP 2018 Max. Amount 2019 Max. Amount Retirement […]