Our Latest Blogs
Explore expert insurance guides published over the years
Blog — MB Insurance
Blog — Frequently Asked Questions
Common questions from our blog readers, drawn from the topics they search most.
1. What topics does the MB Insurance blog cover?
The MB Insurance blog covers a wide range of insurance education topics including life insurance, disability insurance, critical illness insurance, mortgage insurance, travel insurance, RESP vs. RRSP planning, home and auto insurance, and how insurance brokers save Canadians time and money.
2. How much life insurance does a Canadian family really need in 2026?
The right amount of life insurance for a Canadian family depends on income replacement needs, outstanding debts (especially mortgages), number of dependents, and future goals like education funding. MB Insurance's blog provides detailed, plain-language guides to help families calculate appropriate coverage.
3. What's the difference between critical illness insurance and life insurance, according to MB Insurance?
MB Insurance's blog explains that critical illness insurance pays a lump sum upon diagnosis of a covered condition while you're still alive, whereas life insurance pays a death benefit to beneficiaries after you pass away — each protects against a different financial risk.
4. How does an insurance broker get paid in Canada?
Insurance brokers in Canada, including MB Insurance, typically earn compensation through commissions paid by the insurance company when a policy is placed — not through upfront fees charged directly to the client.
5. What is the difference between an insurance broker and an insurance agent, per MB Insurance's blog?
An insurance broker works independently and compares multiple insurance companies to find the client's best fit, while an insurance agent typically represents and sells products from a single insurance company, offering less choice and comparison for the client.
6. Why is climate change affecting home insurance for Canadian homeowners?
MB Insurance's blog explains that climate change is increasing the frequency and severity of weather-related claims in Canada, including flooding, wildfires, and severe storms — leading to rising home insurance premiums and a growing need for homeowners to review their coverage.
7. How can Canadians lower their insurance premiums without sacrificing coverage?
MB Insurance's blog outlines several strategies: bundling multiple policies with one provider, maintaining a clean claims history, increasing deductibles where financially feasible, reviewing coverage annually, and working with an independent broker who compares rates across multiple insurers.
8. What is usage-based auto insurance and why are more Canadians choosing it?
Usage-based auto insurance is a model where drivers pay premiums based on actual driving habits and mileage tracked via telematics devices or smartphone apps, rather than flat rates. It's growing in popularity among Canadians who drive less frequently.
9. RRSP vs. RESP: which is right for my financial goals?
MB Insurance's blog explains that RRSPs are designed for retirement savings with tax-deductible contributions, while RESPs are designed specifically for a child's post-secondary education with government grant matching. Many families prioritize both based on available cash flow.
10. How often should I review my insurance policies in Canada?
MB Insurance's blog recommends reviewing your insurance policies annually, or after any major life event such as marriage, having a child, buying a home, or starting a business, to prevent costly coverage gaps.
