JBCR Virtual Solutions Blog

Happy Hanukkah, Win­ter Sol­stice and
Merry Christmas.

As entre­pre­neurs we have all thought about what would hap­pen if we became ill, had chil­dren, our spouse died, oh so much more.  I am sure the major­ity of use have looked a some type of insur­ance that might cover this issues.  Yah… right.

So great to hear about the new vol­un­tary plan for col­lect­ing spe­cial employ­ment insur­ance ben­e­fits.  Yes long overdue.

Ok let’s have a look at this

EI for Employees

“Cana­dian work­ers pay pre­mi­ums of 1.73% of insured earn­ings in return for ben­e­fits if they lose their jobs. Employ­ers con­tribute 1.4 times the value of employee pre­mi­ums. Since 1990, there is no gov­ern­ment con­tri­bu­tion to this fund.”

EI Self Employed

“Self-employed indi­vid­u­als who sign on will pay $1.73 for every $100 of self-employment income up to the max­i­mum insur­able earn­ings ceil­ing of $42,300. It is the same pre­mium as reg­u­lar EI con­trib­u­tors pay.”

Ok, so the gov­ern­ment pays noth­ing into either funds, yet they man­age the pro­gram and dole it out.  Where is the inter­est going — hmmm. 

Com­ments?

Jan

Did you try to get insur­ance for your home and home office just to be turned down?

Did you decide to get home insur­ance with­out claim­ing  you have a home office?

I have such a story to tell you, but first let me say that if you have home insur­ance, and you have a home office, and have not declared you do, your insur­ance will be void if any­thing hap­pens to you. Trust me, it is true.

 My Night­mare!

After years of  hav­ing home insur­ance with the same com­pany, which included  busi­ness insur­ance (equip­ment replace­ment) the com­pany I had my pol­icy with changed hands not long before my pol­icy was up for renewal. Once the renewal date was close I thought it would be easy to get the same insur­ance cov­er­age.  I was very wrong.  They would no longer cover me for both.  I was told I had to get busi­ness insur­ance in order to have home insur­ance.  No busi­ness insur­ance — no home insurance!!

After many days of work­ing with the “new com­pany”  they  found a com­pany that would cover my home office (which did not include cov­er­ing my home insur­ance)  my rate would have gone up over $2000 per year.  Yep, you heard me right. That quote didn’t even cover home insur­ance!  I knew that fig­ure was a no go for me — and would be for most peo­ple like me.

After many stress­ful days and sleep­less nights, and many hours of search­ing for com­pa­nies, I found one that will cover my home, plus my home office busi­ness equip­ment, that is actu­ally less than what I was pay­ing in my pre­vi­ous pol­icy, and includes cov­er­age in other impor­tant areas.

I am thrilled to bits with my cov­er­age and just blown away by what goes on out there. 

Want more info — con­tact me. No I am not an agent  

Note: This post is for my Cana­dian readers.