We Offer Various Insurance Plans
Disability Insurance – helps protect your income in case of injury or illness. Disability insurance provides a monthly income in the event you are unable to work due to an injury or illness. This type of coverage is crucial for self-employed individuals and people who do not have disability insurance through their employer.
Personal Health Insurance – to help with the high cost of day-to-day expenses for drugs, Dental, Vision care, hospitalization, etc. Personal health insurance provides affordable coverage for unexpected health expenses many ongoing health-related services not covered by provincial plans. Depending on your drug, dental, and supplementary health needs (such as vision care, chiropractic care, or emergency travel medical).
Registered Retirement Savings Plan – RRSP is a retirement savings plan that you establish, and to which you or your spouse or common-law partner contribute. Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you receive payments from the plan. You set up a registered retirement savings plan through a financial institution such as a bank, credit union, trust, or insurance company (like us). We advise you on the types of RRSP and the investments they can contain.
Registered Education Savings Plan – RESP is a savings vehicle generally used by parents to save for their children’s post-secondary education. With the rising costs associated with sending a child to college or university, RESP can really help because the government provides grants while the savings grow tax-deferred until withdrawn. When the student withdraws the funds for educational purposes, the withdrawals are taxed in the student’s hands, typically at a lower rate. You can contribute up to $50,000 per child and there are no taxes payable on the money earned in an RESP until it is withdrawn. When RESP grants and earnings are withdrawn by the child for educational purposes, they are taxed at the student’s generally low tax rate.
Long Term Care protects your retirement plans and gives you flexibility and control when making choices about the care you need. Long-term care services may be provided in a variety of settings at home, through adult daycare, in a retirement home, assisted-living setting, or long-term care facility.
Tax-Free Savings Account – The TFSA program began in 2009. It is a way for individuals who are 18 years of age or older and who have a valid social insurance number (SIN) to set money aside tax-free throughout their lifetime. Contributions to a TFSA are not deductible for income tax purposes. Any amount contributed as well as any income earned in the account (for example, investment income and capital gains) is generally tax-free, even when it is withdrawn. Administrative or other fees in relation to a TFSA and any interest on money borrowed to contribute to a TFSA are not tax-deductible. Current TFSA Contribution room.
Do you have questions? Give me a call 416-825-3091
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