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Financial Advisor Serge Robichaud on Solving ‘Underinsured’ Problem Through Market Returns

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With economic hardship lingering for many Canadians, the choice of whether or not to invest in insurance products becomes ever more complex. Rising debt, coupled with soaring house prices, creates a persistently challenging environment for people to navigate – especially those with no financial training.

A Canadian Life and Health Insurance Association (CLHIA) survey showed that one in three Canadians has no life insurance, and over half of those insured are covered for less than $100,000. This is particularly alarming as the life expectancy for Canadians is consistently dropping year to year.

Despite the evident need for insurance, people cite obstacles such as the cumbersome process of purchasing insurance and the requirement for medical examinations. But of course, affordability is the most significant concern. The perceived complexity and cost associated with insurance products have dissuaded many from pursuing coverage.

Financial advisor Serge Robichaud works with Canada Life and Quadrus Investments to create tailored financial plans for families. Advisors like Robichaud play a crucial role in guiding individuals through the maze of insurance options.

“I stress to my clients the importance of including living benefits as part of their overall financial plan,” says Robichaud. Living benefits allow policyholders to access the policy’s benefit while they are still alive if they experience a disability or a qualifying critical, chronic and/or terminal illness.

“Living benefits provide critical financial support to people when they’re going through the most challenging times of their lives” Robichaud continues. “They’re able to maintain their standard of living, handle medical expenses, and deal with unexpected turns in their health conditions”

Robichaud has seen first-hand the subtle shifts in perception of the need for insurance with his clients. He understands that affordability is a major concern, and he works with clients to grow their income while also finding the most cost-effective coverage for them.

“Ultimately, the biggest asset you have is yourself,” says Robichaud. “I always ask my clients: what is your biggest financial asset? Most clients answer: their home. The truth is, your ability to earn income for the remainder of your life will likely be worth much more than your home! Hence, you are like a machine that prints money. If you had such a machine in your basement, would you insure it? Living benefits ensure your ability to make money, which is almost always your biggest financial asset!” says Robichaud. “You have to lean on your ability to provide for and protect your family. I work with clients to stretch and maximize their income through the markets, building portfolios that allow them a level of independence and freedom in the choices they can make financially. It’s the best way to ensure that you’re covered for every eventuality.”

By working with financial advisors like Robichaud, Canadians can better optimize their financial stability, allowing them to afford the kinds of insurance coverage they need.

The industry can also take steps to make the purchasing process less cumbersome through the use of digital applications. Most believe that this would benefit the traditional distribution channels as well.

 

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Yankees wrap up AL East with 10-1 win over Orioles, with Judge hitting 58th homer

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NEW YORK (AP) — Aaron Judge hit his major league-leading 58th home run, going deep for the fifth straight game to help the New York Yankees wrap up their second AL East title in three years with a 10-1 victory over the Baltimore Orioles on Thursday night.

Giancarlo Stanton had four RBIs that included his 27th homer, Alex Verdugo also homered and Gerrit Cole outpitched Corbin Burnes in a possible postseason preview. Judge and Stanton homered in the same game for the 14th time this year, tying Mickey Mantle and Roger Maris in 1961 for the most in Yankees history.

New York assured itself a first-round bye and home-field advantage in a best-of-five AL Division Series starting Oct. 5.

Baltimore, which clinched a postseason berth by winning Tuesday night’s opener of the three-game series, will be in a best-of-three Wild Card Series starting Tuesday.

Stanton homered in the second to put the Yankees ahead and hit a three-run double in a six-run sixth.

Judge hit a two-run homer in the seventh against Bryan Baker and has 144 RBIs, the most in the major leagues since Ryan Howard’s 146 in 2008. Judge matched his career best by homering in five consecutive games.

Making his last start before the playoffs, Cole (8-5) allowed two hits in 6 2/3 innings, struck out five and walked one, lowering his ERA to 3.41. He struck out Anthony Santander with a 98.1 mph fastball that ended the eighth after plate umpire David Rackley called a ball on the previous pitch, a knuckle-curve that appeared to be just above the strike zone. Cole glared as the umpire as the pitcher walked back to the dugout.

Cole was given a standing ovation when he walked to the dugout with two outs in the seventh and tipped his cap to the crowd of 42,022.

Burnes (15-9) allowed two hits in five innings, one walk and nine strikeouts — including eight on cutters. Burnes came out after 69 pitches and is likely to start the Orioles’ postseason opener on Tuesday. He had a 1.20 ERA in five September starts.

Stanton lofted a slider at the bottom of the strike zone into the left-field seats after missing badly at a slider on the prior pitch.

Austin Wells, in a 4-for-42 slide, forced in a run when he walked with the bases loaded against Cionel Pérez. Stanton drove the next pitch on one hop to the wall in right-center for a 5-1 lead. Stanton has 72 RBIs after hitting 6 for 18 with two doubles, two homers and eight RBIs in his last five games.

Anthony Rizzo added a two-run single against Baker.

Emmanuel Rivera hit a ninth-inning sacrifice fly for the Orioles.

UP NEXT

Orioles: LHP Cade Povich (2-9, 5.59) starts a series opener at Minnesota on Friday, when LHP Pablo López (15-9, 4.11) will be on the mound for the Twins.

Yankees: LHP Carlos Rodón (16-9, 3.98), 7-2 with a 2.87 ERA since the All-Star break. starts Friday’s series opener against Pirates RHP Jared Jones (6-8, 4.14).

___

AP MLB:

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Ostlund scores overtime winner to give Sabres a 3-2 pre-season win over Senators

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OTTAWA – Noah Ostlund scored the overtime winner for the Buffalo Sabres in a 3-2 pre-season win over the Ottawa Senators on Thursday night.

Buffalo’s lineup had a combined total of just over 100 NHL games of experience as most of its regular roster is in Munich, Germany for the upcoming Global Series Challenge.

Felix Sandstrom made 14 saves for the Sabres (4-0-0). Josh Dunne and Isak Rosen had the Buffalo goals.

Adam Gaudette and Noah Gregor scored for Ottawa. Linus Ullmark made his first start in a Senators (3-1-0) uniform and didn’t disappoint, stopping 28 of 29 shots through 30 minutes of play.

Dustin Tokarski made 10 saves over a period and a half.

Ottawa opened the scoring at 7:55 after Carter Yakemchuk made a great defensive play to create a turnover. Gregor was then sent down the wing and he beat Sandstrom on the glove side.

Buffalo tied the game at the 10-minute mark. Vsevolod Komarov made a cross-crease pass to Dunne who stepped into the faceoff circle and beat Ullmark.

Buffalo had a 24-5 edge in shots after the first period.

Gaudette gave Ottawa the lead midway through the third with a power-play goal that was set up by Yakemchuk. Rosen tied it with 40.7 seconds remaining.

The Senators were expected to make a number of cuts after the game to reduce the size of their roster.

NOTES: The Sabres were given a special exemption from the league before the game. Teams usually have to dress a minimum of eight NHL veterans, but Buffalo didn’t have any in its lineup.

UP NEXT: The Senators will take on the Pittsburgh Penguins on Sunday in Sudbury, while the Sabres will head to Columbus on Saturday.

This report by The Canadian Press was first published Sept. 26, 2024.

The Canadian Press. All rights reserved.



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Coach says Nylander will be fine after early departure in Leafs’ 2-1 win over Habs

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TORONTO – The Toronto Maple Leafs got a scare in a 2-1 win over the Montreal Canadiens on Thursday night when star forward William Nylander left the game midway through the first period after taking a knock to the head.

He was held out for the rest of the game for what the team called “precautionary reasons.” Maple Leafs head coach Craig Berube said Nylander avoided serious injury and would be OK.

“Willy will be fine,” said Berube. “Nothing to worry about.”

Nylander was the latest Maple Leafs star to suffer an injury scare, as Auston Matthews departed practice this week with what Berube deemed an upper-body ailment. Matthews did not play on Thursday.

John Tavares and Nick Robertson scored for Toronto in the Maple Leafs’ first win of the pre-season. Christian Dvorak tallied for Montreal.

The Maple Leafs outshot the Canadiens 33-17.

Nylander was tripped up in the neutral zone and hit in the head by a passing Montreal player as he fell. The 27-year-old went straight to the dressing room after the play.

Tavares opened the scoring midway at 10:12 of the first period by tipping home a deft touch-pass from Mitch Marner. It was the fourth point for Tavares in two games.

“There were better sides to our game,” Tavares said. “The way we played, all three zones, we were a little more connected. The pace of our game was better. Moving the puck better.

“I liked the way that we were getting in on the forecheck.”

Dvorak pulled Montreal even at 5:39 of the second period after taking advantage of a slick feed from Alexandre Barre-Boulet at the Toronto blue line.

Dvorak held off Maple Leafs defender Morgan Rielly and tucked the puck between goalie Anthony Stolarz’s legs.

Robertson had two breakaways later in the period but both were turned aside by Montreal netminder Jakub Dobes.

Robertson eventually capitalized with the winner at 18:04. He stripped the puck from Canadiens defender Adam Engstrom, drawing a penalty in the process, and beat Dobes between the legs.

“Heck of a play,” said Maple Leafs forward Steven Lorenz. “That’s just hard work, not giving up on a play. And it shows a maturity for a young guy like him. Coming on the backcheck and stripping the guy, going in and on the first three strides getting some separation and getting a great shot on the guy’s five hole.

“I get tired just watching him. He’s a good little player.”

Matt Murray took over for Stolarz in the third period for his first game action since suffering a hip injury on April 4, 2023. He stopped all seven shots he faced.

“He’s had a good summer, healthy summer,” Berube said of Murray. “He was able to train and do the things he needs to do. You know, this guy has won a couple (Stanley) Cups. He knows how to win. He’s a good goalie.

“So, I think it’s just kind of progressed from the summertime through to camp here now. He looked solid. He’s a big guy, takes up a lot of net.”

Stolarz had nine saves and Dobes made 32 stops.

COMING UP

The Maple Leafs and Canadiens will face each other again on Saturday in Montreal.

This report by The Canadian Press was first published Sept. 26, 2024.

The Canadian Press. All rights reserved.



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