Protect your Biggest Investment

Kelly - Mobile Mortgage Specialist

HomeProtector insurance provides life and disability insurance to protect your large investment. Life insurance can provide protection upon death up to a maximum of $500,000.

And disability insurance can provide you protection. In the event that you become ill or injured and can't work for a period of time, RBC Royal Bank will cover your mortgage payments for up to $3,000 per month up to a two-year maximum.

Even if you receive disability insurance through your employer, typically it is a percentage of your income, so it may not be enough. HomeProtector insurance will help cover your mortgage payments on a monthly basis so the income you receive from your employer can help go towards your other living expenses.

If you'd like some further information on HomeProtector insurance, contact me or visit us online at our RBC mortgage centre.

For more information, visit the RBC Advice Centre

How you can best save for your child's education with an RESP

Thanks to Trish- Investment Specialist at RBC.

Kids are expensive, aren't they? Between groceries, clothing, phone bills, ... never mind trying to save for their education! But of course it is important - we all want the best for our kids.

We want to set them up to succeed in life, which usually includes making sure they can go to college or university. So how do you save for this event, given all the other financial demands in your life?

The answer is actually simple: start a Registered Education Savings Plan, or an RESP, for short. An RESP is a government approved investment plan that helps you save money for your child's post-secondary education.

It's a great way to save, because your money grows on a tax-deferred basis. This means income is not taxed until you take it out for your child's education. And as a student, they probably won't have much in the way of taxable income, so they will likely have little or no tax to pay when that time comes.

And you know what? You get some savings help along the way from the government. That's right - eligible RESP contributions automatically receive a grant from the Government of Canada until the year your child turns 17. So on top of what you've contributed, you can get an extra $500 or more per year... or up to $7,200 over the life of the plan.

That's 7,200 reasons right there to set up an RESP. And you don't need a lot to start - as little as $25 per month in fact. You can make things really easy by setting up automatic contributions so you'll hardly notice the money coming out. And if you need to, you can change your contributions just by giving us a call.

And grandparents, relatives or friends can also easily contribute to your child's education. So instead of buying the latest toy, they can give the gift of education. The best part? No assembly required.

Please visit the RBC Advice Centre for more information.

Buying a home? Here are some things to consider that may save you money.

Buying a new home is very exciting event and likely one of your biggest financial investments.

Before you buy your home, consider if the home needs repairs, or is a higher insurance risk. You may be able to negotiate a lower purchase price, based on anticipated expenses.

For example, some things to consider are...

• Older homes with aluminum, or knob and tube wiring could be considered a fire risk and can increase your insurance rates.
• A home with oil heating can be an environmental liability risk.
• Both of these things can be updated to reduce your insurance costs, but they may be expensive and should be factored into your final costs.
• Another consideration is whether the home you want to purchase has a history of water damage. Certain areas are known for flooding and sewer back-ups which could increase your insurance rates, so you may want to adjust the purchase price accordingly.
• Before you make your final decision, be aware and ask questions, what you learn could help you save money and ensure you pay the right price for your home.

For more information, visit the RBC Advice Centre.

Shop securely online with your credit card

Shopping online is an appealing concept to most of us. It removes obstacles such as store hours, product availability, parking, crowds, bad weather, and most importantly lack of time. Yet many of us will still reach for the car keys in favour of turning on the computer, for fear of online credit card fraud.

The fact is, when purchasing online, using your credit card is the safest way to go.

How is online shopping safe for me?

Because most credit cards have additional built-in armour to help protect you from fraudulent use, using your credit card for online shopping is extremely secure.

All personal credit cards in Canada offer additional layers of security for your protection. For example, Zero Cardholder Liability is the credit card company's promise that you will not be responsible for charges to your card, as a result of fraudulent or unauthorized use, provided you take reasonable precautions to protect your PIN and your card, as set out in your RBC Royal Bank Credit Card Agreement.

Additionally, the credit card companies have features designed specifically to protect you when shopping online. By registering a password for your Visa or MasterCard and shopping at Verified by Visa or MasterCard SecureCode enabled merchants, only you can use your card for online purchases. It's easy, secure, and it's free.

But familiarizing yourself with your credit card features and taking a few additional precautions can also help to ensure a safe and pleasant online buying experience.

Here are some useful tips to keep in mind when using your credit card online:

Be sure to shop only with merchants you know

Ensure you are purchasing within a secure browser, allowing a secure transmission. This can usually be identified by a padlock symbol or by an "https" url.

Check the delivery, refund and returns policy in the event you are not satisfied with your purchase.

Take the time to read the merchant's privacy policy. The information you are submitting should be kept private and not shared with any 3rd parties.

Keep your user names and passwords unique and secret.

Only give your card details after you initiate the purchase.

Only send information or reply to emails from merchants you know.

Check with your credit card provider... your card may also provide you with Purchase Security and Extended Warranty Insurance, which protects your purchases from loss, theft or damage and extends the manufacturer's warranty.

Shop in comfort

So pull up a chair, turn on your computer, and do your shopping from the comfort of your own home... and with the comfort of knowing that there are many safeguards in place to make sure your online shopping experience is secure and easy.

For more information visit the RBC Advice Centre.