Canadian LIC | Affordable Insurance Policy Providers in Canada

Tax season can be a chore to get through, especially when it comes to things like investments or savings plans like the Registered Education Savings Plan(RESP) in Canada. To many Canadian families, an RESP is more than just a financial responsibility. It is an essential part of planning for their children's education . In this, getting the information you need on how it plays out in your annual tax returns is very important. In this post, we will consider whether you need to include your RESP in your tax returns and look at both how these work and how they relate to what you have to do in your taxes. Understanding the RESP Before turning to the tax implications, it is essential to understand what an RESP is . The Registered Education Savings Plan(RESP) is a tax-efficient savings solution designed to facilitate the Canadian family in saving for the post-secondary education of their children. The biggest advantage of an RESP is that the income that accrues within the plan grows on a ...

Year after year, millions of people visit Canada to enjoy its vast natural beauty, vibrant cities, and multicultural landscapes. Whether you are visiting family, on a business trip, or exploring for the first time, having the right coverage against the unexpected by purchasing Visitor Insurance is important. But what if your trip extends beyond what you originally envisioned? Is it possible to extend the visitor's insurance policy for a longer period? Read on in this blog to find out how Visitor Insurance Policies can be flexible in Canada and get a Visitor Insurance Quote for extended coverage. Understanding Visitors Insurance in Canada Visitor Insurance in Canada can help you avoid paying out of pocket for extensive healthcare costs in the country. It is sought by international travellers to cover unforeseen expenses that can arise from sudden accidents or illnesses. Hospitalization, emergency treatments, and sometimes even prescriptions and dental care can be covered. However,...

When it comes to securing your future, one essential plan is Critical Illness Insurance, ensuring you are financially prepared for a severe ailment. It must be assessed according to individual pocket depth, lifestyle, expectations of future illnesses, and family history. Here is some practical guidance from a financial advisor in Canada. In this blog, we will discuss Critical Illness Insurance more, including how to calculate the perfect amount of coverage for your needs to ensure that you are armed with the necessary knowledge while shopping for Critical Illness Insurance plans . Why Critical Illness Insurance? Let's understand the importance of Critical Illness Insurance before discussing the coverage amount. Critical Illness Insurance provides a lump sum payment on the diagnosis of one of a range of critical illnesses defined in the policy, such as a major organ transplant, heart attack, stroke, or cancer. This financial assistance can help with costs often accompanying these i...

Life throws curveballs. But you can control how your loved ones are protected financially. This is where Term Life Insurance comes in, the parachute that lets you jump out of a plane and experience life feeling secure in some of life's largest transitions. In this guide, we unearth the universe of Term Life Insurance in Canada for 2024 so you can effortlessly pare down the options and get the right protection for you. Simplifying Term Life Insurance: Your Financial Safety Net What is Term Life Insurance? A term life policy, on the other hand, is like a safety net but a temporary one. It delivers a payout for a particular time frame (the word), when you expire, to your beneficiaries. This money provides financial relief to your family so that they do not have to compromise with their expenses, living standards, or dreams (like your child's education, etc). Why Choose Term Life Insurance? Term Life Insurance is a very popular type of life insurance for Canadians; here's why: ...

When it comes to the landscape of retirement planning in Canada, the one landscape that always catches the eye is the world of the Registered Retirement Savings Plan (RRSP). Most Canadians must be able to navigate the ins and outs of RRSP growth. A typical query is whether or not RRSP accounts earn interest. This article will cover the details of RRSPs, particularly how to make the money in these accounts grow because of interest and other forms of investment returns. What is a Registered Retirement Savings Plan? A Registered Retirement Savings Plan (RRSP) is a type of Canadian account for holding savings and investment assets. But first, let us understand what RRSP really is before we consider the return of interest and the possibility of other returns. An RRSP (Registered Retirement Savings Plan) is a Canadian account that is used to register and save towards your retirement. It enables Canadians to keep and invest income tax-free until retirement when they withdraw it at a lower ta...