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INSURANCE - HELPFUL TIPS

Tip of the week #4: Figure out what’s the best type of life insurance for you

Helpful Tips, Insurance

Now that you’ve crunched the numbers and learned the lingo, you need to think about which type of life insurance policy suits you best. There are two basic categories of life insurance: term insurance and permanent insurance (sometimes called “whole life”).

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Tip of the week  #3: Learn the insurance lingo

Helpful Tips, Insurance

We’ve done the “why” and the “how” of owning life insurance, this week it’s time to look into the “what” as in “what are they talking about?”

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Tip of the week #2: Figure out how much coverage you need

Helpful Tips, Insurance

Last week we went over the question” Why do I need life insurance?”. This week we’ll tackle the “how” – as in “how much life insurance you and your family need”. This is a fairly straightforward process but requires some legwork and university-level math skills (that’s a joke, BTW).

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Let us be the first to wish you a “Happy Life Insurance Awareness Month!”

Helpful Tips, Insurance

If the past 6 months has taught is anything, it’s that you can never be too prepared for the unexpected. For many of us across Canada, that has meant taking a hard look at the emergency response plan we have for our families and our futures. We think that plan should include some form of individually owned life insurance.

Thinking about buying life insurance can be overwhelming – especially when it’s your first time. There are a lot of choices out there and many factors to consider. Our goal is to make your insurance shopping experienc

e as painless as possible. To help ensure that you navigate your journey successfully, we are going to share a simple tip every Tuesday during September to get you started.

Without any further ado, let’s get started with our first tip.

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Legacy planning for your digital assets: what’s in your digital wallet?

Helpful Tips, Insurance


Who speaks for you when you can’t speak for yourself? Who handles your stuff when you can’t? What do they need to know? What are they supposed to do with them? How can you make it easier for the people who act for you under a power of attorney or will? Let’s focus on a growing area, digital assets and access. 

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Kids to inherit your vacation property on your passing? Watch out for the taxes!

Helpful Tips, Insurance

Summer is upon us, which means spending longer days in the sun and enjoying your cottage with your family and friends. This is also the time that you may start thinking about the future of your cottage and your plans to pass it down your family. If you have decided to bequeath your vacation property to your children in your will, you may know that there could be substantial capital gains taxes due. Where does the money come from? Let’s consider some alternatives.

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The financial stress of supporting adult children

Helpful Tips, Insurance

As Millenials graduate and seek employment, many parents still feel the burden of financially providing for their children. Studies found that more than four in ten Canadians say their top source of stress is money1. Specifically, nearly half of Canadian parents admit that supporting their adult children is causing them emotional and financial stress2.

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Probate or Capital Gains: a peril of joint ownership

Helpful Tips, Insurance

 

People can go to great lengths to avoid probate costs, sometimes making them turn a blind eye to much bigger costs that can be created by passing assets outside of the estate. Let's take a look at a recent case concerning an elderly gentleman and his son. 

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Don't miss out on these 5 tax credits

Helpful Tips, Insurance

It’s tax time again. You may be in the habit of completing your own tax return or having a professional do it for you. Either way, make sure you have the details and supporting documentation to get the most out of these five tax credits.

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Managing Health and Death Risk in Retirement

Helpful Tips, Insurance

When saving for retirement, you may get sick or have an accident, suffer a critical illness, require long term care or pass away. These factors should be considered when looking at savings and spending during retirement. Contingency planning plays a key role in comprehensive retirement income planning.

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