Chris Worby and Jeremiah Worby are Trusted Regina based financial advisors and Wealth Management services providers servicing local Regina households and businesses. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners. Worby Wealth Management listens and provides a personalized financial plan.
Insurance Needs
by Jeremiah Worby
What will happen to you and your loved ones if something unexpected occurs? Do you have contingency plans in place? Being prepared for the unexpected is something that should be planned for. Insurance isn’t always for everyone, but if the need arises, having something in place can help alleviate unwanted stress and burden.
Life Insurance
A very unfortunate statistic, but 100% of people eventually die. Does that mean that you have to buy life insurance? Well not necessarily. Everyone’s situation is different. It can depend on a variety of factors such as age, current and future financial circumstances, possible inheritances, considerations about how much you would like to leave loved ones, and funeral expenses, just to name a few.
If you do decide that a need for life insurance exists, these are just some of the decisions that need to be considered:
Did you need a joint policy with either first-to-die or last-to-die?
What amount of coverage should you get?
What monthly premium is reasonable?
Critical Illness Insurance
Critical Illness insurance exists for those who wish to sleep comfortably at night knowing they are covered in case a major medical emergency should ever arise. Very few critical illness policies are the same. Some considerations include:
Do I only want coverage for only the four major illnesses (life-threatening cancer, stroke, heart attack, coronary artery bypass surgery)?
Are there other conditions that I’d like coverage for (diabetes, Parkinson’s disease, multiple sclerosis, etc.)?
How much coverage do I need?
How long do I need coverage for?
Disability Insurance
If you’re employed at a high injury risk job, this is a serious consideration to take into account. Disability insurance can provide protection against loss of income should you become disabled. When disabled, as much as we’d love them to, your bills don’t just stop.
Check to see if you already have coverage through your employer so that unnecessary overlapping coverage isn’t purchased
Decide on how much coverage you would like to have
Calculate what your monthly expenses will be taking everything into account
Would you be willing to change jobs if need be?
Would you be willing to cut back on your current standard of living?
Find Out More
Some of the services that Worby Wealth Management can help you with:
TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!
The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This Blog was written, designed and produced by Jeremiah Worby and Chris Worby for the benefit of Jeremiah Worby and Chris Worby who are Financial Advisors at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Mutual Funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.
Chris Worby and Jeremiah Worby are Trusted Regina based financial advisors and Wealth Management services providers servicing local Regina households and businesses. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners. Worby Wealth Management listens and provides a personalized financial plan.
Credit Ratings
by Jeremiah Worby
We’ve all heard the stories from someone we know (though we may or may not like that person) about having been a victim of some form of identity theft. Identity theft can drastically affect your credit rating, and your credit rating affects almost everything in your financial world.
Whether you’re looking to apply for a credit card, take out or renew a mortgage, get a car loan, or want to borrow a million dollars from that loan shark down the street, your credit rating will greatly impact the interest rate which you might receive for such loans.
There are two major players in the credit rating world of Canada – those being Equifax and TransUnion. You can, and we suggest you do, go to both these websites and sign-up for their free service to check your credit scores.
Equifax
Directly from their website, Equifax states:
“We are a global data, analytics, and technology company. We believe knowledge drives progress. Our unique data assets, technology and analytics transform knowledge into insights to power decisions that move people forward.”
Here’s a wonderful and short read [they claim it’s 2 minutes but I think it’s way more like 3 minutes :)] from Equifax about what impacts your credit score.
https://www.consumer.equifax.ca/personal/education/credit-score/what-impacts-credit-score/
TransUnion
Directly from their website, TransUnion states:
“Our mission is to help people everywhere access the opportunities that lead to a higher quality of life. By helping organizations optimize their risk-based decisions and enabling consumers to understand and manage their personal information, we empower both to take their destinies into their own hands.”
Some of the services that Worby Wealth Management can help you with:
TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!
The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This Blog was written, designed and produced by Jeremiah Worby and Chris Worby for the benefit of Jeremiah Worby and Chris Worby who are Financial Advisors at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Mutual Funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.