A major part of ensuring you are financially prepared for the unexpected costs in the aftermath of an accident involves checking car insurance policies to make sure you understand the coverage, says Easy Legal Finance Inc. president and CEO Larry Herscu.
“It can cost a great deal to heal from an accident,” he tells AdvocateDaily.com. “There has to be an awareness of your insurance benefits and why they are important to you.”
Herscu notes Ontario brought in changes to statutory accident benefits for auto insurance in June 2016 that meant some reduced costs for substantially reduced coverage.
The most significant change involved medical and rehabilitation care, which was combined with attendant care as a single benefit for both catastrophic and non-catastrophic claims, says the Financial Services Commission of Ontario (FSCO.)
Dipping into your RRSPs before retirement is one of the worst financial mistakes a person can make — even after an accident leaves you unable to work, says Easy Legal Finance Inc. president and CEO Larry Herscu.
“This isn’t the same as taking money out of your savings account because those are taxable dollars,” he tells AdvocateDaily.com. “Taking it out of your registered plan is unwise and carries a significant long-term impact.”
Herscu comments on the issue as an increasing number of Canadians are deregistering their RRSP assets, a decision that saddles them with major tax implications.read more
The real estate bubble is compounding financial difficulties for many Canadians and sometimes they are forced to choose between mortgage payments and medical treatments, says Easy Legal Finance Inc. president and CEO Larry Herscu.
“Their debt-to-income ratio is increasing and often there is no safety net in place should a person experience an accident,” he says. “They are unable to pay for treatments such as physiotherapy because they have overextended themselves in the property market.read more
With many Canadians carrying more debt than ever before, an increasing number of injured people need financial help during litigation, says Easy Legal Finance Inc. president and CEO Larry Herscu.
“We’re seeing a wide variety of clients coming to us for help in this economic climate,” he tells AdvocateDaily.com.
The company specializes in helping people who have been hurt in an accident by providing financial support to pay their bills while their lawyer fights for a fair settlement, he says.read more
We have rolled out an electronic signature platform for our core loan documents, using Docusign. This means both you and your clients can sign-off through email access, using a computer or mobile device.read more
Finding a good, experienced lawyer who can provide the best possible legal representation and get you fair compensation is far from easy. A personal injury lawyer should be an expert in all aspects of tort and insurance law and be able to negotiate an out of court settlement or represent you in the court as a trial lawyer if the need arises. Not all lawyers are experienced at both; therefore, you must choose your lawyer carefully. Here are a few things you can do to find a personal injury lawyer in Toronto:read more
In case you are injured in an auto accident in Ontario, you should know what benefits you can claim from your insurance company. Ontario’s auto insurance policy is very specific about the benefits that should be provided by insurance companies to persons involved in a motor vehicle accident if they have suffered injuries as a result of the accident. These benefits are defined by the Statutory Accident Benefits Schedule (SABS) under the province’s Insurance Act. You have the right to claim the benefits regardless of whether you are at fault or not. Beside the standard benefits, you also have the option to purchase additional benefits to protect yourself, your spouse and children in case of personal injury. At the time of making the claim, you should know the coverage provided by both standard and additional benefits. The different types of benefits you might be able to claim are:read more
A personal injury lawyer is a lawyer who legally represents a person who has been or claims to have been physically or psychologically injured as result of wrongdoing or negligence by another person, a group of people, a company, a government agency or any other entity. He or she is knowledgeable and experienced in the branch of law known as tort law, which deals with civil wrongs and damages caused to a person’s property, reputation or rights. This law covers work-related injuries, motor vehicle accidents, slip and fall accidents, medical mistakes and injuries caused due to defective products. More often than not, where appropriate, a personal injury lawyer works towards an out of court settlement rather than going for a trial. This minimizes the expenses, mental distress and disruptions to daily life and work that the latter may cause. But if push comes to shove, he or she will go to trial. It is not mandatory to hire a personal injury lawyer, but hiring one can help ensure that you will receive compensation in a just and fair manner.read more
When you are involved in an auto accident resulting in injuries to you and/or the people travelling with you in your vehicle, or the other drivers and/or the people travelling in their vehicle, then you may either be liable for damages or eligible for compensation under certain circumstances. If you ever find yourself in such a situation, then having a basic idea about tort law can help you avoid costly mistakes. Here is a glossary of important personal injury terms (in alphabetical order):read more