Recent Articles

Group Insurance Will Look After Me, Won't It?

Posted on December 7, 2015

Sally has been working for the same company for over twenty years. About a year ago, she was given a new group benefits booklet because her employer had switched insurance companies. Like most people, she put it aside and intended to read it when she "had the time." Sally was just diagnosed with terminal cancer and made the time to read her group booklet. She was upset to learn that the life insurance coverage with the new insurer was only one times annual earnings. The previous coverage had been two and a half times annual earnings.

Tags:

disability

insurance

life insurance

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The Big Squeeze!

Posted on October 12, 2015

“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” - Frederic Bastiat

By the time that you read this article, it is very likely that the Federal elections will soon be over. When all the back slapping, hand wringing and hyper-analysis is done, the new political regime will be faced with one inescapable challenge.

Tags:

tax planning

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How Should I Insure My Mortgage?

Posted on October 12, 2015

Ron and Susan are arranging a mortgage and the banker asks if they'd like to include life insurance to pay it off on death. Sounds like a good idea, so they decide to take it. After filling out and signing a few more forms, they have it.

Tags:

insurance

mortgage

protection

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Life Insurance Tax Rules Changing

Posted on September 14, 2015

Starting in January 2017, the allowable cash value build up under tax rules in life insurance policies will change. The federal government introduced changes in December 2014 that are designed to modernize life insurance exempt testing rules as they have discovered that people are living longer and that their insurance policies will pay out later.

As a result of this new legislation, the affected demographics are middle-class consumers, business owners and wealthier Canadians looking to pre-fund their estate tax bills using cheaper life insurance dollars at death.

Tags:

life insurance

tax planning

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Inheritance: The Solution to Your Financial Struggles?

Posted on September 14, 2015

If you are sitting neck deep in debt, living beyond your means, and still calm and collected about your own financial well-being, then chances are, you are one of the many millions of people expecting an inheritance at some point in the future. Like other inheritance recipients, perhaps you are expecting your personal balance sheet to align just as soon as your parents or a favorite grandmother or aunt passes away. The question is, though, is that really a sound strategy for dealing with your current finances?

Tags:

inheritance

life planning

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Top Retirement Tips

Posted on September 14, 2015

Convert RRSPs to income - Roger and Sarah, retired for several years, have delayed taking income from their RRSPs so they could enjoy the tax deferred growth as long as possible. They must start an income from their RRSPs before the end of the year they turn age 71.

Review investment portfolio - Joanne had been using investment funds to save for retirement. She had benefited over the long term by investing in equities, but wants a more income-oriented portfolio with less volatility for her retirement income needs.

Tags:

retirement planning