According to LIMRA research, both men and women are less likely to own life insurance than they were 10 years ago, but the declines were larger for men.

Men are now approaching the traditionally lower ownership rates of women. Thirty-nine percent of men and 43 per cent of women actually have no life insurance coverage at all.

Most notably, middle-aged (35-54) married men are typically in their highest earning years, and half are fathers. Yet, this group had double-digit decreases in the proportion owning individual life insurance from 2004-2010.

And that trend seem to be continuing. People just aren't buying the way the used to. For instance, even though one third of new parents agree they lack suffient coverage, 6 in 10 of tem don’t shop or buy life insurance within two years of the birth, according to LIMRA research.

Millions of dollars in life insurance goes unclaimed each year for one simple reason: the beneficiaries simply don't know the money exists.

Even in this wired age, if the insurance company can't locate the beneficiary — or for that matter, even ascertain that the policyholder has died — that money will go unclaimed, eventually being turned over to the public purse, Consumer Reports reveals. 

Sometimes it's a communication problem. All too often, however, people buy life insurance and don't let their beneficiaries know about it. But Consumer Reports argues that insurance companies know that policies sometimes go astray and may not be working as hard as they might to find beneficiaries. 

If you know or suspect that a particular insurer underwrote the policy, contact that carrier’s claim office by phone or online. If you don't get a positive response, don't give up. Many companies have an ombudsperson to contact, for instance.

It's beginning to feel a lot like summer.

And with the Victoria Day long weekend upon us many Canadians have turned their thoughts to adventure and warmer climates.

Even though there's a lot of excitement about upcoming fun in the sun trips, travellers have three top worries while away: the weather, losing something important and requiring medical attention.

According to a study by BMO Insurance, 83 per cent of Canadians are planning on taking a vacation this summer however, only half actually purchase travel insurance.

The Boy Scouts motto says it all: Be Prepared.

It's Emergency Preparedness Week May 5-11 and what better time to make sure you're ready for any emergency to protect your family, your home and your business.

Just think of the devastation from hurricane Katrina. Not only did it cause billions of dollars in property damage but it also resulted in the tragic loss of human lives, as well as years of rebuilding lives and communities.

Although they vary sharply across companies, employee benefits are designed to add value to an overall compensation package. Typically, they include things like vacation time, sick days, health and drug plans, disability benefits, life insurance, and retirement plans.

If you're lucky, they might also include items like a car or gas allowance, child-care, employee discounts, education assistance, legal assistance, gym memberships, etc.

But many people find it difficult to place a value on their benefits, preferring instead to focus on salary since it's immediate and tangible.

After all, you can't eat benefits and who says you'll even need glasses down the road?

Most Canadians don’t think twice about the need for car insurance, but many are willing to take the risk of travelling uninsured, according to a survey from American Express Canada.

Only 59% plan to purchase travel insurance prior to taking off on their next trip, which isn't that surprising considering that 30% (42% of those 18 to 34) admit that they’ve actually never purchased such coverage.

What's holding them back? Well, they're not sure whether they're getting a good deal or not (72%), think there's too much jargon and don't understand what coverage includes (66%), and that it's just too complicated to compare one product to another (65%).

And, even when they do buy, it's tough to collect. At least that's what one Toronto man argues, even though he may not have been completely forthcoming during the application process.

It’s tough being single … at least when it comes to money.

Most financial plans tend to centre on milestones that have a lot more to do with couples than singles: Get married. Merge your financial lives. Buy a house. Have a child. Buy some insurance. Start saving for university — it’s a pretty traditional pattern.

But not everyone fits that template. What about those that don't have children? What about those that aren't married or otherwise attached?

Many singles are spenders, not savers, because they often don’t feel the same pressure to save as those with with children. After all, no kids means no university or wedding costs. But there are other financial pressures — not the least of which is having to juggle day to day expenses on one income, rather than two.

Guaranteed Minimum Withdrawal Benefit or GMWB plans were the first fail-safe retirement income products to hit the Canadian market. Soon, it seems, they'll be fewer of them.

GMWB plans are insurance products that work much like a very expensive mutual fund with a guaranteed withdrawal rate. Essentially, the insurance company guarantees you access to an income stream based on your original investment.

Desjardins Financial Security is the latest insurer to suspend sales of its guaranteed retirement income product. They likely won't be the last. 

The rapidly changing makeup of home insurance rates means that finding the right company at the right time may be the best way to save on insurance costs.

On average, Canadians pay $840 annually for their home insurance, according to recent numbers from InsurEye, a Vancouver company that provides online analysis to help buyers manage their insurance.

The highest level of home insurance premiums is in British Columbia at $924 annually, followed by Alberta with $912 annually. Annual home premiums in Ontario go as high as $828, and in Quebec they reach $768 per year.

The credit crunch, a change to ownership rules, and the retirement of the baby boom generation have resulted in an interesting phenomenon, the Financial Post reports: Canada has a lot more banks than people realize.

Scan a list of Canada’s Schedule I banks and you’ll see the names of these recent arrivals, such as Bridgewater Bank, HomEquity Bank and MonCana Bank of Canada.

What do they all have in common? The comforts of CDIC coverage, a grain of comfort in an era of Euro-centred turmoil. But do you really know the rules when it comes to protecting that hard earned cash?