Answers to Your Most Common Financial Questions
Term Life: Coverage for a specific period; affordable; pays death benefit if you pass away during term
Whole Life: Permanent coverage; includes cash value growth; premiums fixed
Universal Life: Permanent coverage with flexible premiums and investment growth options
Yes, many term policies allow conversion without additional medical underwriting.
No, beneficiaries generally receive the death benefit tax-free in Canada.
Yes, but unpaid loans reduce the death benefit and may incur interest
Insurance for businesses to protect key employees, fund buy-sell agreements, or provide group benefits
Covers prescription drugs, dental, vision, paramedical services, and private hospital rooms not fully covered
by provincial plans.
Some plans cover pre-existing conditions after a waiting period; check each policy
Employer-sponsored plans covering employees for medical, dental, life, and disability benefits
Provides income replacement if you cannot work due to illness or injury
Provides a lump-sum payment if diagnosed with serious illnesses (cancer, stroke, heart attack, etc.)
Supplemental coverage to fill gaps in public or employer health plans, including paramedical or private
hospital coverage
Yes, it reimburses emergency medical treatment, hospital stays, and evacuation costs
Mandatory health insurance for parents/grandparents visiting Canada for extended stays
Yes, depending on the insurer and policy terms
Yes, many plans include trip cancellation/interruption and baggage loss coverage; check policy limits
A tax-advantaged account for retirement savings. Contributions are tax-deductible, and growth is taxdeferred
Yes, under the Home Buyers' Plan or Lifelong Learning Plan, withdrawals can be tax-free if repaid under rules
A flexible account where contributions are not tax-deductible, but growth and withdrawals are tax-free
Yes, withdrawals are added back to contribution room the following year
Registered Education Savings Plan for children's post-secondary education, often combined with government grants (CESG).
Insurance-based investment products with guarantees on principal or death benefit, combining investment growth with insurance protectionhospital coverage
First Home Savings Account: tax-efficient savings for first-time homebuyers; contributions are deductible,withdrawals for a first home are tax-free
T2 filing, bookkeeping, payroll, GST/HST reporting, financial statements, and tax planning
Yes, we provide monthly bookkeeping, payroll processing, and compliance for businesses of all sizes
Yes, we provide year-round advice for individuals and businesses to legally minimize tax liabilities
Yes, our certified professionals handle audits and communications with the CRA
Monthly updates are recommended to maintain accurate financial records
Yes, we optimize registered and non-registered accounts to maximize tax savings
