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Pre-approved Manulife MONEY+ Visa campaign launching April 20th

Starting April 20th, we’ll be reaching out to approximately 100,000 Manulife Bank customers to let them know that they’re pre-approved for a Manulife MONEY+TM Visa Infinite* or Visa* Platinum Card. Customers can apply online using a unique special offer code included in their email offer.

What’s the offer for the Infinite Card?

Customers who accept the offer will have their annual fee waived for the first year1 – that’s a $120 value!
Manulife One customers who accept the offer will have their Unlimited Daily Banking fee waived for a year, saving around $200. Even better, cardholders who spend $20,000 a year or more on their card will keep getting that fee waived in the future2.
Plus, Visa Infinite cardholders will enjoy 3% cash back rewards at grocery stores, 2% cash back on travel, and 1% cash back on everything else3.
What’s the offer for the Visa Platinum Card?

Visa Platinum cardholders get 2% cash back rewards at grocery stores and 0.5% back on everything else4.
Plus, Visa Platinum cardholders never pay an annual fee.
Also, both cards include an introductory balance transfer offer of just 1.99% for 6 statement cycles5.

For more information, check out our FAQ.

Key Dates:

April 20th – Email and splash pages deployed

May 4th, 18th and June 1st – Reminder emails sent

June 10th – Campaign ends.

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Best Individual Life Insurance for Gen X

How to Choose the Best Individual Life Insurance for Gen X?

Choosing the right life insurance policy is essential, especially for Generation X (Gen X) in their 40s and 50s. With many options available, it can be challenging to determine which policy is the best fit for your unique needs. This article will guide you through choosing the best individual life insurance for Gen X.

Understanding the Different Types of Life Insurance:

Before we dive into choosing the best life insurance policy, it’s essential to understand the different types of life insurance. There are two main types: term life insurance and permanent life insurance.
Term life insurance covers a specific period, usually 10 to 30 years. It’s the most affordable option and ideal for those needing coverage for a particular period, such as paying off a mortgage or providing for their children until adulthood.
On the other hand, permanent life insurance provides coverage for your entire life. It’s more expensive but offers additional benefits such as cash value accumulation and the ability to borrow against the policy.

Assess Your Needs and current health condition:

The first step in choosing the best individual life insurance policy for Gen X is to assess your needs. Consider your current financial situation, including your debts, expenses, and income. Determine how much coverage you need to ensure your loved ones are cared for in case of your unexpected death.
Also, consider your long-term financial goals, such as paying for your children’s education or leaving a legacy for your family. Your life insurance policy should align with your financial goals and provide the necessary protection.

Compare Policies:

Once you’ve assessed your needs, it’s time to compare policies. Consider the coverage amount, premium, and term length. Look for policies that offer additional benefits, such as a waiver of compensation in case of disability or the ability to convert a term policy into a permanent policy. It’s also essential to compare the financial stability and reputation of the insurance company. Look for ratings from independent agencies such as Mileni-Insure to ensure the company is financially stable and has a good reputation.
Work with an Independent Agent from the identical Gen X. They will better understand your needs.
Choosing the best life insurance policy can be overwhelming, so working with an independent agent is recommended. An independent agent represents multiple insurance companies and can provide unbiased advice and recommendations based on your unique needs.
An independent agent can also help you navigate the underwriting process, which can be challenging for Gen Xers who may have preexisting medical conditions. They can guide insurance companies in presenting your medical history to ensure you receive the best rates possible.

Final Thoughts

Choosing the best individual life insurance policy for Gen X requires careful consideration of your needs, comparing policies, and working with an independent agent. Remember, the suitable policy should align with your financial goals and protect your loved ones in case of unexpected death.
Take the time to assess your needs, such as preexisting health conditions and sports life benefits, compare policies, and work with an independent agent who represents many favorite companies in the market to ensure you choose the best approach for your unique situation. With the right life insurance policy, you can know your loved ones are protected no matter what happens.

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Should I use a RRSP or TFSA or both?

RRSP vs. TFSA: Low-Income Considerations:

TFSA can be an ideal savings vehicle if you’re in a low-income tax bracket. RRSPs may not be well suited to low-income Canadians. As the earlier example demonstrates, the RRSP account tax savings are insignificant and may be in a higher tax bracket when you withdraw. You may also consider that TFSA withdrawals don’t impact income-tested benefits and credits, such as child tax benefits and credits, Old Age Security, or Guaranteed Income Supplements.
If you now find yourself in a lower tax bracket, such as during maternity leave, and have previously made RRSP contributions. A strategic move is to consider withdrawing from your RRSP to facilitate a TFSA contribution. It’s important to note that while this maneuver can optimize your current financial situation. Funds withdrawn from your RRSP cannot be re-contributed later. Therefore, careful planning and consideration are essential to make the most of your savings and investment strategy.

RRSP vs. TFSA: Middle-Income Considerations:

One effective strategy involves using an RRSP calculator to contribute to your TFSA now. By doing so, you can accumulate RRSP contribution room to be utilized later when you find yourself in a higher tax bracket. This approach aims to optimize the tax benefits associated with both RRSP and TFSA accounts, providing a strategic balance for your financial planning.

RRSP vs. TFSA: High-Income Considerations:

In this financial scenario, it is advisable to maximize your RRSP contribution limit and TFSA contribution. By strategically leveraging the tax savings or refund obtained from the RRSP contribution. You can allocate these funds to contribute to and build your TFSA. This integrated approach allows you to make the most of both RRSP and TFSA benefits, creating a well-rounded and tax-efficient investment strategy.

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Affordable Critical Illness Solutions Made Easy

As Canada’s population grows, the risk of severe illnesses like cancer, stroke, and heart disease also increases significantly. A diagnosis of a critical illness can have devastating emotional and financial consequences. The financial impact it can have is often not anticipated by most Canadians. Due to the cost and high rejection rates associated with traditional critical illness plans, many people find it challenging to secure adequate coverage.

Critical Illness protection

The famous insurance company has removed barriers for working Canadians by adopting a two-tiered approach.
Tier 1: Guaranteed-issue coverage up to $50,000 with no medical questions.
Tier 2: Up to $100k coverage with simplified qualification and no underwriting.

Popular insurance companies’ plans are affordable, and accessible, and offer features to boost policy potential, benefiting all Canadians.

Second Event Benefit

The policy remains in force after the first benefit is paid, and the client remains eligible to receive compensation for a second, unrelated critical condition.

Cancer Recurrence Benefit

In the event of recurrence of the same type of cancer, after a claim has been paid, the benefit amount can be paid again, after which the policy remains in force.

Automatic Increase in Benefit

At no additional cost, the benefit amount will automatically increase by 5% of the original benefit value every (5) five years the coverage remains in force, up to a maximum of 25%.

Contact your agent to learn more about Critical Illness plans today.

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How much do I need for retirement?

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Predicting your retirement needs is best started by assessing your current expenses and pinpointing future costs related to your work that will decrease when you retire, such as clothing, eating out, gas, etc…
When planning for retirement, think about different scenarios that could affect your income, such as:


Also, take into account any large debts such as mortgages. Will you finish paying your mortgage by the time you retire? Or are you considering buying a smaller home or moving into a nursing home?
Solutions to such issues may also affect your costs. You need to take into account how long your pension payments will last.
It is an important consideration. Would you be able to live if your pension payments were expanded by thirty years? If you put off retirement for another five years, your savings will only last twenty-five years, but you will earn an additional five years of salary. It can make all the difference in your budget.


You were deciding to retire early for personal or professional reasons— significant unexpected expenses, such as urgent repairs to your home. A serious health problem affecting you or your loved one requires costly medical care. Try to evaluate the impact of such events on your finances. This action can help you build a realistic retirement fund. Take this opportunity to see if your disability or critical illness insurance policy is sufficient for your needs. Your health, financial situation, and plans will change over the years. The closer you get to retirement age, your needs will become apparent. To ensure you’re on the right track, reviewing your retirement plan from time to time is essential.


Feel free to consult with a specialist regularly to test different scenarios and choose the plan that is comfortable for you.

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No minimums or fees

There’s no minimum balance needed to start saving with your RRSP, no setup or monthly fees, and no fees to deposit or take out money. Keep in mind that withholding taxes may apply to withdrawals.

Pay less tax in retirement

When you retire, your income will probably be lower than it is now. That means the money you and your spouse take out of your RRSPs will likely be taxed at a lower rate.

Borrow to pay for a first home or education

Take out up to $35,000 to make a down payment on your first home with the Home Buyers’ Plan and up to $20,000 for your or your spouse’s education with the Lifelong Learning Plan. Faster growth without taxes while you save In your RRSP, taxes aren’t applied until you start withdrawing your money. Instead, every dollar in your account keeps growing.

Pay less tax today

When you contribute to your RRSP (or your spouse’s), you lower your taxable income and pay less tax today.

Lower risk in your retirement portfolio

Your money will earn a high-interest rate and won’t depend on stock market returns. Plus, your savings are eligible for deposit insurance from the Canada Deposit Insurance Corporation (CIDC).

RRSP investment options


Registered Advantage Account

Get a high rate of return on your money while having easy access to it when needed.

No minimum investment

All deposits earn the same high-interest rate

No setup fees


Long-term GICs

Lock your money in to earn guaranteed returns in a secure, simple investment.

$2,500 minimum investment

Competitive rates on 1-year to 5-year terms

No setup or maintenance fees


Short-term GICs

Stay flexible and keep your options open with investment terms of up to a year.

$25,000 minimum investment

Competitive rates on 30-day to 364-day terms

No setup or maintenance fees.

For more information – 647-993-8405

The first insurance in the country is a medical policy coming to Canada - Visitors to Canada Insurance (Travel Insurance Canada).