Thomas C. Chan Financial Services Blog: Insurance & Retirement Solution Articles

Life Insurance Underwriting: What You Need to Know
Buying insurance feels like navigating a tricky maze with lots of choices and confusing prices. The word “underwriting” sounds like a secret code, but it

Is Critical Illness Insurance Taxable? What You Need to Know
When a serious illness hits, everything around feels like it’s spinning out of control. Money troubles should not add to the stress. Ever asked, “Do

What is Creditor Protection for Life Insurance?
Want to keep your money safe from anyone trying to take it? Running a business, working in a risky money field, or just wanting to

Open vs Closed Mortgage in Canada: Are You Paying a Flexibility Tax?
When you walk into a Canadian bank or credit union to sign your mortgage papers, you’re often presented with a binary choice: open or closed.

Mortgage Insurance vs Life Insurance in Canada: Why the “Easy” Option Could Cost You
You’ve just signed the papers for your new home. Your bank account manager slides one last form across the desk: mortgage life insurance. They explain

Types of Life Insurance in Canada: Which One is Right for You?
Shopping for life insurance in Canada can feel like learning a new language. Between “participating whole life,” “term riders,” and “cash surrender values,” it is

What is a beneficiary in Canada?
A beneficiary is the person, people or organization you name to receive money or assets when you die, such as a life insurance payout, RRSP,

Is Life Insurance Taxable in Canada?
For many Canadians, life insurance is a key part of their family’s financial safety net. A common worry is, “Will my family have to pay

Canada Emergency Benefit Account (CEBA) Update – [January 2021]
In this blog entry, I’m thrilled to bring you up to speed with the recent developments regarding the Canada Emergency Business Account (CEBA) as of

RESP 101 | Everything You Need to know about the Registered Education Savings Plan in Canada
Are you aware of an investment approach that guarantees a 20% annual return, carries no risk, and has the support of the Canadian government? This

Is It Better to Take Canadian Pension Plan (CPP) Early?
Curious about the optimal moment to start tapping into your Canadian Pension Plan (CPP) as someone living in Canada? Questions such as “what will my

Tips to Save on Taxes
Retirement Planning Vancouver | Tips to Save on Taxes Were you aware that the heaviest financial load on families comes from taxes? This phenomenon has

Life Insurance Vancouver | Retirement Plans
Life Insurance Vancouver | Retirement Plans Thomas Chan stands as your reliable guide for financial matters, specializing in life insurance services in Vancouver. He commits to

Should you consider getting an RRSP loan?
Should you get an RRSP loan? Our discussion regarding RRSP loans can be summed up in a basic piece of advice: don’t do it. In

Retirement Planning Vancouver | Sharing Life Plans
Retirement Planning Vancouver | Sharing Life Plans Retirement Planning Vancouver highlights that many young individuals, after finishing their education at universities or vocational schools, are

RRSP 101
The Registered Retirement Savings Plan (RRSP) serves as an essential financial instrument aimed at helping Canadians get ready for their post-working years. This comprehensive RRSP

Will & Estate Planning Checklist for Canadians
Have you considered what happens to your Canadian assets in the event of your illness or death? Wondering how long it takes for an estate

How Does Life Insurance Work in Canada?
Talks about life insurance can seem tedious at first glance, but understanding its crucial importance in maintaining financial stability and protecting your family’s future is

Is Life Insurance Tax Deductible in Canada?
Can You Deduct Life Insurance on Taxes in Canada? Life insurance serves as an important financial safeguard for individuals and businesses, providing financial security to

Joint First to Die Life Insurance: A Canadian Guide
Thinking ahead is vital for keeping your bank account smiling. If you’re navigating the Canadian terrain and aiming for serene finances, exploring joint first-to-die life