Frequently Asked Questions

FAQ

Most frequent questions and answers

Disability insurance works when you can’t. Disability insurance can provide you with a tax-free monthly income that can help you keep your financial expenses hassle-free and worry-free if you are unable to continue working due to illness or accident. Disability insurance will pay you monthly benefits, from complete disability to rehabilitation, and even for a short period after recovery. Some insurance companies also offer partial disability insurance and disability coverage so severe that the insurance company assumes that you will be disabled.

Short-term policies are usually purchased by young families with children. If you are a young couple with a mortgage and children, you should seriously consider short-term life insurance. Without savings, it is financially more profitable to purchase a short-term plan. A short term insurance plan does not have any savings and is therefore much cheaper.

 

Short-term policies are usually purchased by young families with children. If you are a young couple with a mortgage and children, you should seriously consider short-term life insurance. Without savings, it is financially more profitable to purchase a short-term plan. A short term insurance plan does not have any savings and is therefore much cheaper.

 

The pension plan is NOT suitable for people over 50 with low income (up to 30,000 annually).

These people are better off investing in alternative programs like the TFSA as you will NOT benefit from taxation and will NOT be able to withdraw your money without paying tax to the government.