Critical Illness
A critical illness can happen to anyone. And it does happen to many. Canadians are more likely to experience a critical illness than they are to die before the age of 75. For most people, the diagnosis is just the beginning.
If you become ill, your focus should be on recovery and regaining your health. Critical illness insurance pays a lump sum benefit following the diagnosis of one of the covered illnesses. It offers you choices and allows you to recover on your own terms.
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Your benefit could allow you to:
- avoid withdrawing money from an RRSP or other savings or investments
- pay down debts such as your mortgage or loans
- choose medicine and treatments not covered by group, personal or government plans
- replace lost income so you have choices – for instance, your partner can take time off work to help you
- maintain your business by hiring a person to run it until you return to work
Tax Free Savings Account
Do you know about a great way to save, tax-free?
The new Tax-Free Savings Account is a great way to take advantage of a savings opportunity! The TFSA is designed to encourage clients to invest in a non-registered GIC, and help them on their way to tax-free savings!
Contribute up to $5,000 annually, and withdrawal the money at any time for any reason, tax-free. Any interest gained on the principal is also tax-free!