Category: Insurance Education

Estate planning is a critical financial strategy that involves organizing your assets in the most tax advantaged manner, and defining how they’ll be distributed after your death. In a Canadian context, this is a process that requires careful consideration of various legal, tax, and personal factors.

An Insurance policy is a legally binding contract between an insurer and the insured designed to provide financial protection against potential future losses, with insurers promising compensation for certain types of damages or losses that may occur. In the Canadian market, there are several kinds of insurance policies available catering to both individuals, businesses and…

If retirement is on the horizon for you or a major milestone you want to achieve, set a clear goal, and plan a reward for achieving it to help motivate you. Instead of planning an age or a date focus on a financial target that will produce the quality of life you are looking for.

If retirement is on the horizon for you or a major milestone you want to achieve, set a clear goal and plan a reward for achieving it to help motivate you. Instead of planning an age or a date, focus on a financial target that will provide the quality of life you are looking for.

What is the definition of Canadian Life Insurance? Life insurance is a contract between the insurance policyholder and the company. If you pass away during the term of the contract, the insurance company promises to pay the death benefit in terms of tax free money to those you designate as beneficiaries. There are many types…

Sound financial planning is vital to grow, look after and secure your assets. Life insurance is a way of securing your assets and dealing with future obligations – over a fixed term or a lifetime. As you age, you have more financial responsibilities like paying a mortgage and raising a family.

Benefits of Borrowing money from life insurance The ability to borrow from a life insurance asset, called cash value, has been common knowledge for many years. However, there are many details about the advantages of borrowing from insurance that are unknown to the general public. When used intentionally, borrowing from par whole life insurance can…

What is Mortgage Life Insurance Mortgage lenders and banks offer consumers mortgage life insurance which is meant to clear off a family’s mortgage balance should the borrower(s) die. While this is a convenient option to consider, like anything, there are pros and cons. In the case of mortgage life insurance, the risk and absence of…

Participating policy – What to expect. A participating policy is an insurance contract that pays dividends to the policy holder. Dividends are generated from the profits of the insurance company that sold the policy and are typically paid out on an annual basis over the life of the policy. Most policies also include a final…