TORONTO, ONTARIO--(Marketwire - Nov 18, 2012) - To mark Financial Literacy Month, BMO Bank of Montreal is releasing a series of financial tips throughout November. As part of BMO''s commitment to ''Making Money Make Sense'', the tips are designed to help individuals and families save and manage their day-to-day finances more effectively.
BMO''s Tip of the Day: Take advantage of credit cards that offer affordable emergency medical and travel insurance to save hundreds of dollars and have peace of mind when you travel out-of-country.
If you''re travelling outside the country, you need medical travel insurance. Always check with your credit card company to confirm what travel and medical insurance is included with your credit card before you travel. If insurance is not included with your credit card, you can often purchase it through your credit card company at very competitive rates.
"Cards like BMO''s World Elite MasterCard offer excellent coverage that can save customers hundreds of dollars on the cost of coverage and potentially thousands if a serious medical emergency arises while you''re travelling," said Nick Mastromarco, Vice President, BMO Bank of Montreal.
BMO Rewards World Elite MasterCard ($150 annual fee), provides 21 day out-of-country travel medical coverage for up to $2 million in eligible expenses. It also provides travel insurance that includes trip cancellation, trip interruption and car rental insurance, a Priority Pass membership, which includes access to more than 600 VIP airport lounges worldwide (over $200 USD value), BMO Rewards, and a 15,000 points welcome bonus, which is equivalent to a $285 travel credit.
Check www.bmo.com/worldelite for more details. Some restrictions may apply, so always check with your credit card issuer to review the details of your coverage before travelling out of country.
"CFEE commends BMO''s ongoing efforts to support Financial Literacy in Canada and promote ways in which Canadians can increase their competence and confidence when managing their personal finances on a day-to-day basis," said Gary Rabbior, President, Canadian Foundation for Economic Education (CFEE).
BMO Financial Literacy Month Tips
November 1: Maximizing TFSA investments annually over 20 years can save nearly $30,000 in taxes.
November 2: Utilize rewards to squeeze the most value out of every dollar you spend this holiday season.
November 3: Choose an investment advisor who is right for you and will help you meet your financial goals.
November 4: Use your RRSP to help make the down payment on your first home.