Life Insurance

A life insurance policy is a means by which to safeguard the financial interests of your family in the event of your death. Usually the policy offers a cash sum, which is paid tax free, to your dependents or named beneficiaries on the policy which can help them with costs such as outstanding debts or funeral costs, as well as enabling them to maintain their standard of living if you die.

Life insurance policies are legally binding contracts and cover specific details such as the price of the insurance premiums, the length of the contract and how long it will cover you for and the sum that will be paid out to your beneficiaries if you die.

In addition to the main use of life insurance that we have discussed above, such policies can also be financially beneficial to you in other ways:

  • It is possible to build a nest egg of savings for your retirement at the same time as benefitting from the protection of insurance.
  • You have the choice of naming a charity of your choice as a beneficiary in the policy to donate some or all of the cash sum to them.
  • You can use the policy to cover estate taxes when you die.
  • If you own your own business, you are able to protect your interests as the policy would provide the funds to buy out a deceased business partner’s part of the company.
Learn More

Latest News

How Tariffs Affect Your Wallet: A Canadian Perspective on the US–Canada Trade War

The US–Canada trade war is hitting home, raising prices on everyday goods and shaking the economy. With tariffs on both sides, what does this mean for your wallet? Learn how trade policies impact your cost of living, investments, and financial future.

TFSA vs RRSP 2025

When looking to save money in a tax-efficient manner, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) can offer significant tax benefits. The main difference between the two is that TFSAs are ideal for short-term goals, such as saving for a down payment on a house or a vacation, as its growth is entirely tax-free, while RRSPs are more suitable for long-term goals such as retirement. When comparing deposit differences, TFSAs have a limit of $7,000 for the current year, while RRSPs have a limit of 18% of your pre-tax income from the previous year, with a maximum limit of $32,490. In terms of withdrawals, TFSAs have no conversion requirements and withdrawals are tax-free, while RRSPs must be converted to a Registered Retirement Income Fund (RRIF) at age 71 and withdrawals are taxed as income.

2025 Financial Calendar

Managing your finances effectively begins with staying informed about important dates and deadlines throughout the year. This comprehensive guide outlines key financial milestones, including tax deadlines, benefit payment schedules, and contribution opportunities, to help you stay organized and on track. Whether you're planning for tax season, reviewing your investments, or ensuring timely payments, this calendar provides everything you need to navigate the year with confidence. Take a moment to familiarize yourself with these essential details and set yourself up for a smooth and successful 2025.

2024 Year-End Tax Tips and Strategies for Business Owners

Discover essential 2024 tax strategies tailored for business owners! From optimizing compensation and preserving the Small Business Deduction to maximizing the Lifetime Capital Gains Exemption, these tips can help save on taxes while planning for your business's future.

2024 Personal Year End Tax Tips

Get ready for tax season with our 2024 guide! Discover actionable tips for families, retirees, students, and investors, including insights on TFSAs, RRSPs, capital gains changes, and much more. Don’t miss these strategies to make the most of your tax year.

Understanding Taxes Payable at Death in Canada

Discover how taxes impact your estate in Canada and explore strategies to minimize the burden. Learn how to manage earned income, deemed disposition, and withdrawals at death to preserve your legacy.

RDSP Explained

Secure the future for loved ones with disabilities through the Registered Disability Savings Plan (RDSP). Take advantage of tax-deferred growth and generous government contributions to build long-term financial security. Learn how the RDSP can be a powerful tool for your family's financial planning.

Understanding the Registered Education Savings Plan (RESP)

Unlock the power of an RESP to secure your child’s educational future. Learn how tax-deferred growth, government grants, and flexible contribution options can ease the burden of rising post-secondary costs. Plan today for a brighter tomorrow!

What is disability insurance?

Discover how disability insurance can safeguard your income if you're unable to work due to injury or illness. Learn about the benefits, how it works, and why it's crucial for everyone, especially the self-employed.