With nearly one in four Canadian couples now living in a common-law relationship, estate planning experts are urging the ever-growing number of nonmarried couples to draw up a will to ensure their life partners aren’t forgotten once they’re gone.
Buying life insurance isn’t as exciting as buying a car or TV, but knowing how to buy life insurance can play a vital role in your long-term financial plan.
If you are going to invest in an insurance policy, you need to understand what you’re accomplishing with the insurance. There may be more than one answer. Consider these top 10 uses of life insurance.
No one wants to think about the worst-case scenario. No healthy 30-year-old wants to make a will and go to the trouble of ensuring that all accounts and investments have a beneficiary named. But it’s never a question of if, it’s always a question of when.
Insurance can be an effective tool. Here’s an idea involving insurance that can provide a tax-free source of cash flow in retirement.
When it comes to most forms of insurance, many people understand the importance of having coverage. Whether it’s your car, your home, or other valuable possessions, having insurance means that you’re financially protected should disaster strike.
Types of spousal support payments and legal fees related to support payments can be deducted from a client’s income, which can help reduce their taxable income.
Don’t let the prospect of a medical exam deter you from getting life insurance. The exam probably isn’t nearly as bad as you think.
Here’s a look at why life insurance companies require a medical exam and what it entails.
Naming a beneficiary of a life insurance policy provides a significant benefit in planning and protecting one’s estate. With a named beneficiary, the death benefit is paid directly to the beneficiary and is received tax-free.
Money is on the move from one generation to the next with almost $700-billion in financial assets set to transfer by 2026, according to J.D. Power’s 2021 Canada Full-Service Investor Satisfaction Study. Without appropriate planning, just imagine the tax bill.
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