Segregated Funds

Unlike mutual funds, a segregated fund offers insurance benefits and insurance guarantees. Your contributions are guaranteed, but they do come with higher fees and are generally less flexible than mutual funds. A segregated fund is not as volatile and comes with very low risk. Keep in mind with all investments you still have the shares, it is the value that goes up or down.

So if the value of your fund goes down, it is important not to panic and pull out. Buy low and sell high. Always talk to your Experior broker to find out if moving it around is a good idea before making any moves. Mutual funds as investments offer more potential gains but also come with the added risk of incurring losses on your investment. The most common kind of segregated fund consists of a portfolio that is managed by a life insurance company like Manulife, Empire Life, or Industrial Alliance.

Life Insurance (No Medical)

Due to those societal developments and conditions related to COVID-19, several insurance companies have eliminated the need for a medical exam and fluids while still providing competitive life insurance rates. In contrast with standard life insurance policies that require medical exams, “no medical” life insurance does not require blood tests, blood pressure results, urine tests, etc. Since testing is not done, the risk is higher for insurers, but with those recent changes in the industry, there is no change in cost to the consumer.

Universal Life Insurance

Universal life insurance is an alternative to explore if you’re searching for a plan that will give you flexible lifetime coverage. Universal life is a form of permanent insurance that includes an investment savings component and has a low cost similar to term life insurance.

How do I utilize the benefits of Universal Life Insurance?

Withdrawals or policy loans are two ways to get money out of the cash value component. If you die, the company will deduct the amount of any withdrawals or outstanding debts from the payout to your beneficiaries. You can add a number of riders to your universal life plan.

Riders are a technique to provide extra coverage and benefits at a reduced additional expense. Riders may include critical illness, disability, term insurance, accidental death, premium waiver, and others as the insurance company may provide.

You can get lifelong protection with universal life insurance and accumulate cash value. Universal life insurance policies include a cash value component that can be used to accumulate savings. You have the option to adjust your premium payments and death benefit.

Travel & Parents Super Visa Insurance

Visitors to Canada Plans
International Students to Canada Plans
Emergency Travel Medical Insurance
All-Inclusive Plans
Non-medical Plans
Student Accident Plans
Plans for Canadians Travelling within or outside of Country

Whole Life Permanent Insurance

Whole Life is a form of life insurance that combines a guaranteed death benefit with a savings component called a cash value. This means that Whole Life will never lapse while you’re still alive, while simultaneously growing more valuable over time.

The beneficial features of a Whole Life plan include:

Guaranteed premiums that never increase.
Cash value component that increases over time.
Tax sheltered investment that never decreases in value despite downturns in the market.
Viewed as an asset by your bank or institution.
Coverage for life that also provides your family with a tax free death benefit that will never decrease in value.
You can not outlive the benefits of a Whole Life policy.
Death Benefits are paid to the beneficiary without requirement to probate.

Funeral Life Insurance

Most of us understand the value of life insurance coverage in ensuring that our family can continue to fund their normal costs in the case of our death. The goal is for peace of mind, to make sure you have enough money to pay off your debts and cover expenses.

Funeral insurance is a tool that can assist your loved ones in covering the costs and burden of your final arrangements. It is more than just a life insurance policy as it provides all of your funeral and burial wishes. Your heirs will not be wondering what you would have wanted for your choice of end-of-life celebrations. It’s not just insurance. It’s a pre-planned event that you leave for your heirs.

Funeral Plans are not a form of investment or retirement plan. Its primary and only purpose is to cover costs like memorial services, coffins, flowers, cremation, or a plot, anything to do with the funeral itself.

Critical Life Insurance

A Critical Illness insurance product pays a lump sum benefit if the insured is diagnosed with one of up to 25 covered conditions and outlives the survival period specified in the contract.

This product is for people who want a financial resource to help them cover additional expenses linked to recovery from a critical illness, such as time off work, traveling to receive treatments, home care, renovations, and the cost of treatments not covered by public health insurance.

You might already know someone who has benefited from the protection of Critical Illness insurance. It is also possible that you have not heard much about Critical Illness insurance. Either way, in the event of a catastrophic medical emergency, such as cancer, leukemia, a heart attack, stroke, or a seizure and much more, critical illness insurance may be your sole means of avoiding financial disaster.

Disability Insurance

We’re sure you have had loved ones, friends, or co-workers suffer from an accident or illness that prevented them from working for weeks or maybe even months. When unexpected events occur, it’s difficult to watch people struggle financially due to loss of income. It’s much more difficult to accept if the person is you or your family member. What will a loss of income mean to you and your family? It would most likely be unpleasant, irritating, and even frightening. The great news is that Long-term Disability Insurance benefits will fill a gap in your cash flow.

Your home, vehicle, or retirement fund aren’t your most important assets. The most important asset you have is your ability to earn a living. If you are unable to work for a long period of time due to illness or accident, disability benefits will cover most of your lost wages. If you are young and healthy, it’s easier to get disability insurance, but if you are older or have a pre-existing condition, you may face higher premiums or even be denied coverage.

Disability Insurance and benefits do not just cover unusual incidents. Many claims are for health issues you may not recognize as impairments, such as physical injuries, stress, cardiac arrest, cancer, or any event that your doctor requires you to have bed rest or time off from work.

This may happen to anybody, at any time, in any job. It’s not uncommon that your employer may offer Group Insurance disability benefits for their employees. If your work is primarily a sedentary desk job you may feel the likelihood of missed weeks or months of work due to an injury may seem improbable but stress and illness is very common amongst office workers.

Kids RESP

The subscriber (or a person acting for the subscriber) generally makes contributions to the RESP. Subscribers cannot deduct their contributions from their income on their Income Tax and Benefit Return.

The promoter usually pays the contributions, and the income earned on those contributions, to the beneficiaries. The income earned is paid as educational assistance payments (EAPs).

If the contributions are not paid out to the beneficiary, the promoter usually pays them to the subscriber at the end of the contract. Subscribers do not have to include the contributions in their income when they get them back.

Beneficiaries generally receive the contributions and the EAPs from the promoter. They have to include the EAPs in their income for the year in which they receive them. However, they do not have to include the contributions they receive in their income.

The Canada Revenue Agency registers the education savings plan contract as an RESP, and lifetime limits are set by the Income Tax Act on the amount that can be contributed for each beneficiary (see Contribution limits). Unless the RESP is a specified plan, the RESP must provide that no contributions (except transfers from another RESP) may be made to the plan at any time after the end of the year that includes the 31st anniversary of the opening of the plan. Furthermore the plan has to be completed by the end of the year that includes the 35th anniversary of the opening of the plan.