GICs designed for seniors
Guaranteed Investment Certificates are an investment option that offer a high degree of security, with the trade-off being a lower rate of return. On major disadvantage for seniors is that GICs must be locked in for a fixed term. In the case of a medical emergency, for example, the money may not be accessible.
Royal Bank is offering a new series of GICs designed to address the problem. The Medical Access GIC is designed for people who are currently investing short-term, in order to have funds available to meet medical emergencies, such as an extended hospital stay, loss of faculties or independence, or confinement to a nursing home.
With this product, clients can earn a rate substantially higher than they would typically earn from most emergency funds, yet preserve access to their money.
The Medical Access GIC is easily redeemable, in whole or in part, requiring only a doctor’s letter.
New tire never leaves you flat
A new type of tire promises to eliminate the danger and inconvenience of stopping by the side of the road to change a flat. Michelin has introduced a “zero-pressure” tire which can be driven up to 80 km (at speeds up 90 kph) after total loss of air pressure.
The secret to the tire’s performance is a reinforced sidewall, which supports the weight of the vehicle and provides the lateral handling the driver needs to maintain control.
Using advanced materials and construction technology, Michelin engineers combined zero-pressure operation with the overall performance, handling and comfort of a luxury touring tire.
According to Michelin, the MXV4 ZP is the first tire to offer a touring-quality ride and handling with zero-pressure capabilities. To make sure that a driver even notices when he or she has a flat, a pressure-monitoring system is required to alert the driver when tire pressure falls below a predetermined level.
Zero-pressure tires have been used on ultra-high-performance vehicles, but the new Michelin is the first zero pressure tire which fits a standard wheel and is approved for a wide variety of luxury and touring cars.