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.

Latest News

Self Owned vs. Bank Owned Mortgage Insurance

Before buying insurance from your bank to cover your mortgage, please consider your options. What does the insurance cover?

Canada Emergency Wage Subsidy expanded to include more businesses!

On July 17th, Finance Minister Bill Morneau announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) that will expand the number of businesses that qualify for the program.

Canada Emergency Wage Subsidy extended into December!

On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.

Financial Planning for Incorporated Professionals

Financial planning for incorporated professionals is often two-sided- planning for the practice and personal financial planning.

CERB Extended | Business Owners who did not qualify previously - expanded CEBA starts June 19th

Great news for Canadians out of work and looking for work. The CERB will be extended another 8 weeks for a total of up to 24 weeks. The expanded CEBA will begin June 19th.

Canadians with disabilities to receive up to $600

On June 5th, Prime Minister Justin Trudeau announced supports for Canadians with disabilities to address challenges from COVID-19. This support program provides a one-time non-taxable payment of up to $600 for Canadians with disabilities.

Insurance Planning for Young Families

For young families, making sure your family is financially protected can be overwhelming, especially since there’s so much information floating online. This infographic addresses the importance of insurance- personal insurance.

Small Businesses! Applications for Canada Emergency Commercial Rent Assistance starts May 25th

The Application portal for the Canada Emergency Commercial Rent Assistance (CECRA) opens at 8:00am EST on May 25th

Expanded eligibility for CEBA $40,000 interest-free loan

The Prime Minister outlined the expanded eligibility for the Canada Emergency Business Account and highlighted companies such as hair salon owners, independent gym owners with contracted trainers and local physio businesses will now be eligible. "If you are the sole owner-operator of a business, if your business relies on contractors, or if you have a family-owned business and you pay employees through dividends, you will now qualify." - PM Justin Trudeau
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