What is Creditor Protection for Life Insurance?
Are you seeking to safeguard your wealth from creditors? For entrepreneurs, professionals, and individuals facing financial vulnerabilities, obtaining creditor protection is crucial to preserve your assets. Instruments like life insurance, annuities, and segregated funds provide unique advantages in shielding your wealth from creditor pursuits, ensuring your financial stability and that of your family members. This […]
Is Critical Illness Insurance Taxable? What You Need to Know
When a severe illness strikes, it’s as if your entire life flips upside down. The last thing on your mind should be the added stress of financial issues. You may be wondering, “Do I have to pay taxes on money received from critical illness insurance?” We’ll delve into this topic and explore different scenarios to […]
Life Insurance Underwriting: What You Need to Know
Jumping into the insurance buying adventure can be a real brain teaser. It’s like being hit with a ton of options and prices, not to mention trying to wrap your head around something called “underwriting.” Ever wonder what underwriting actually means when it comes to buying insurance? It’s pretty much the secret sauce for insurance […]
RESP 101 | Everything You Need to know about the Registered Education Savings Plan in Canada
Do you know of an investment strategy that promises a yearly return of 20%, carries no risk whatsoever, and is backed by the Canadian government? This strategy is referred to as the Registered Education Savings Plan (RESP). In this article, we will dive into how RESPs function, the benefits of using an RESP, how it […]
Life Insurance Vancouver | Retirement Plans
Life Insurance Vancouver | Retirement Plans Thomas Chan stands as your dependable advisor for all financial needs, offering life insurance solutions in Vancouver. He is dedicated to bettering your financial wellbeing and elevating your life’s standard. Since the 1960s, taxes have posed significant financial challenges for numerous families. By implementing life insurance tactics in Vancouver, Thomas […]
Canada Emergency Benefit Account (CEBA) Update – [January 2021]
In this blog post, I am excited to bring you the latest updates on the Canada Emergency Business Account (CEBA) as of January 2021. CEBA stands out for its straightforward application process, which is a breath of fresh air when compared to the more complex and frequent application requirements found in other programs like CRB […]
Should you consider getting an RRSP loan?
Should you get an RRSP loan? The core takeaway from our conversation about RRSP loans can be succinctly summarized with a simple recommendation: don’t do it. In my next piece, I will delve into the complexities of RRSP loans, including their pros and cons, and assess whether it’s wise to take out a loan to […]
Retirement Planning Vancouver | Sharing Life Plans
Retirement Planning Vancouver | Sharing Life Plans Retirement Planning Vancouver emphasizes that numerous young people, upon completing their studies at a university or trade school, are keen to progress in their lives. With their professional. As well as with their personal life. They don’t yet have quite the idea of, nor do. Do they consider […]
RRSP 101
The Registered Retirement Savings Plan (RRSP) acts as a tool to support Canadians in getting ready for their retirement years. This crucial guide to RRSPs will cover all the essential details you need to know about them. The Canada Revenue Agency (CRA) provides attractive tax benefits for RRSP contributions, and I will guide you on […]
Tips to Save on Taxes
Retirement Planning Vancouver | Tips to Save on Taxes Did you know that the heaviest financial burden for families is taxes? This fact has remained constant since the 1960s. In Canada, 45% of each dollar earned by households goes towards taxes. Furthermore, inflation is on the rise. A significant amount of our hourly earnings and […]
