Here’s how driving factors into insurance underwriting. Cassie Schneider Thanks to a clampdown on drunk driving, more use of seatbelts, and cars equipped with airbags and the technology to help avoid accidents, the number of deaths due to motor vehicle accidents has decreased over the past few decades. However, the risks of mortality and morbidity […]

The economic and coronavirus news remains grim, yet the markets have remained on largely an upward trend.   Why? Inflation is coming.    With the news last week that the U.S. economy shrank at a historically annualized rate of almost 33% in the April to June quarter along with news that the U.S. Federal weekly […]

One of the countries’ top insurance underwriters put out an article detailing some of the changes that Covid-19 has left on the insurance industry. If you’re interested in the industry, as we are, it’s worth a read.

Cassie Schneider, Licenced Advisor Talk to us about whether it's wise or not to use your TFSA as collateral.Cassie Schneider Tax-Free Savings Accounts (TFSA) have become integral to the financial plans of many Canadians. During the 10-years since inception, the TFSA has proven to be a multi-purpose vehicle helping Canadians meet their long-term savings goals.When [...]

A policy loan is a uniquely defined transaction that can only involve a life insurance policy. The Income Tax Act (ITA) clearly sets out the consequences of a policy loan and its eventual repayment. The taxation of a policy loan under a life insurance contract was the subject of a recent Tax Court of Canada [...]

It’s been a month since our last update and things have not improved.  I’m not talking about the markets (they’re up), but rather the Coronavirus and its ramifications on society and the global economy.  A few days ago, the IMF confirmed what was starting to become clear during our last update. That the global economy […]

Tax-Free Savings Accounts (TFSA) have become integral to the financial plans of many Canadians. During the 10-years since inception, the TFSA has proven to be a multi-purpose vehicle helping Canadians meet their long-term savings goals. When structuring a loan, a TFSA plan holder is permitted to use the interest in their TFSA to secure the […]

The concept of income splitting involves shiftingincome from one family member, who is in a highermarginal tax bracket, to another family member,who is in a lower marginal tax bracket, with theprimary objective of paying less income tax overallacross the family unit. Paying less tax usually meansthere is more money remaining for consumptionand savings. Income splitting [...]

Maturing an RSP When it comes time to move from the accumulationphase to the payout phase, there are severalmaturity options available to holders of a registeredretirement savings plan (RRSP). Individuals candesign their retirement plans by combining differentpayout options and, in some cases, moving betweenoptions. While RRSP annuitants must shift to apayout option before the end [...]