Living Benefits… like Life Insurance, but you don’t have to die to get them.

Living Benefits are also known as Critical Illness Insurance or Disability Benefits. Why would you consider one of these benefits? Think about this… if you became critically ill and needed months or years to recover from a surgery or ailment, would you have an income? Would you have to drain your savings? Take out a line of credit or a …

Why should I get an RESP?

RESP DEADLINE: DECEMBER 31st, 2019. Why should you get an RESP? 1. Government grants The federal government adds to your RESP savings each year through the Canada Education Savings Grant. Lower-income families may also qualify for the Canada Learning Bond. That’s free money from the government right to your student’s pocket when it comes time to pay tuition! 2. RESP …

What do I do with my tax refund!?

Hurray! You’ve done tax season like a boss and now you’ve got a refund. You want to keep your adult on and be financially responsible with your refund – AWESOME. Now what do you do? First, reward yourself for being responsible. Seriously. Give yourself a little something something for getting that refund in the first place! I’m not saying go …

Mortgage Insurance VS Life Insurance

Mortgage Insurance vs. Life Insurance: What’s the Difference? You got through the mortgage qualifications, searched high and low in a crazy market for a house and are ready to sign the dotted line for a mortgage on your home-sweet-home. Then the words “mortgage insurance” are brought up. What is Mortgage Insurance? Mortgage insurance is simply a term life insurance policy …

19 things you probably don’t know about RRSPs

It’s 2019 so we have put together 19 things you might not know about RRSPs… They are not a product. Contributions made in the first 60 days of the year can be used on last year’s tax return (or this year’s for that matter) There is a penalty for contributing too much. You can get a tax return. If you …

Strategies to STAY ON BUDGET.

You sit down, look at your income and expenses, and write down the numbers. Everything looks good and you’re excited for this new plan. You think “this time will be different; this time I will stick to the budget.” Then two weeks later you are blindsided by an unexpected cost. Or a month later you realize you’ve been spending more …

Life Insurance De-Mystified

Life insurance in Canada provides a tax-free benefit to an Estate or named beneficiary, in case of an insured person’s death. For families, life insurance can help prevent the stress associated with a sudden passing and financial obligations such as housing costs, debt, and living expenses.   Who needs life insurance? Anyone whose death would cause financial hardship. This could …

Private Health & Dental Plans

Taking care of our health is so important. One security we feel is having health care coverage. Besides our provincial healthcare plans (such as OHIP or MSP), many Canadians have a group benefit plan or an individual health and dental plan. An advantage of having group or private insurance to cover excess health care costs (beyond what provincial government plans …