Insurance is designed to protect your financial security and should be a key part of your overall financial plan. Depending on the type of insurance you purchase, you or your beneficiaries receive a cash benefit if you suffer a disability, become ill or die. A proper financial plan can mean
A Tax-Free Savings Account (TFSA) is a registered general-purpose savings vehicle allowing Canadians to earn tax-free investment income. A TFSA is available to individual 18 years of age or older. Contributions do not generate the same tax deductions as contributions to an RRSP, but withdrawals can be made tax-free. Unused TFSA
When it comes to investing for your retirement, Registered Retirement Savings Plans (RRSPs) are a good place to start. The combined benefits of reducing taxable income and potential tax-sheltered compound investment returns over the long term can provide you with a compelling reason to make the most of these savings
Disability insurance (DI) is a form of income protection that pays out a benefit if you can’t work because of an illness or injury. The level of income replacement that a plan offers and how long you get payments varies by type of disability insurance and your policy details. A private
Education Saving Plan (RESP) The RESP is a government initiative to encourage families to save money for their children for post-secondary education, is essentially the meaning of RESP. The money that you put into your RESP plan grows tax free. On top of that, the government matches your RESP contribution
