Category Archives: Living Benefits

Time to Review Your Insurance Portfolio?

Estimated Reading Time: 120 seconds

Most of the people I meet with for the first time cannot give me any details about the insurance they have purchased in the past (or not purchased). They do not know what they are paying, if it is term insurance or permanent and the most shocking thing is they do not know if it even takes care of their needs.

Just like your will, or your retirement plan, you should take time to regularly review your insurance portfolio with a professional, to make sure it is still relevant for you, your family and your business.

Here is a list of some things you need to consider when reviewing your own insurance portfolio:

• Is your Life Insurance a permanent or term policy?

Have You Insured Your Retirement Goals?

Estimated Reading Time: 90 seconds

Most people in Canada are aware of the fact that they need to start putting money away for retirement when they are young. While some people are still lucky enough to have a defined benefit pension, most Canadians will need to contribute to their own retirement nest egg. The vehicle of choice for these savings is the Registered Retirement Savings Plan or RRSP for short.

During this time of the year, it is hard to go anywhere without seeing or hearing ads reminding us of the RRSP deadline and encouraging us to contribute to our own RRSP. Aside from consumer awareness and a deadline, there are other motivating factors to contribute to our RRSP, including the dream of not needing to work one day in the future and the income tax deduction applied to our income.

Unfortunately, for many Canadians, most of their net worth is wrapped up in their RRSP, their home and maybe their business. What they have not taken the time to consider is what they can do to protect the retirement goals if things do not go exactly to plan. How would your retirement be affected if you suffered a heart attack, stroke or were diagnosed with cancer?