by Frank Restorick | Aug 29, 2026 | Life Insurance
Budget between roughly CAD 150 and CAD 275 per employee per month for a competitive group benefits plan, or annual costs falling in the low thousands per employee. Most employers spend an additional share of base payroll once benefits are added on top of wages. That...
by Frank Restorick | Aug 29, 2026 | Life Insurance
A spousal RRSP is funded with the contributor’s own RRSP room, the contributor claims the tax deduction, but withdrawals are usually taxed to the annuitant, the spouse who owns the account, unless the three-year attribution rule pulls that income back onto the...
by Frank Restorick | Aug 27, 2026 | Life Insurance
An insured retirement plan uses an overfunded permanent life insurance policy plus loans against its cash value to deliver tax-advantaged retirement income. It’s usually the right fit only after you’ve maxed out your RRSP and TFSA room and can commit to funding...
by Frank Restorick | Aug 26, 2026 | Life Insurance
Yes, and for many incorporated business owners it’s one of the most tax-efficient benefits available, provided it’s structured correctly. A health spending account in Canada only holds up with the CRA if it qualifies as a Private Health Services Plan, or PHSP. Get...
by Frank Restorick | Aug 25, 2026 | Life Insurance
Par (participating) whole life insurance shares in the insurer’s profits through non-guaranteed dividends. Non-par (non-participating) whole life locks in fixed, guaranteed premiums and cash values with no profit-sharing at all. The simple rule: pick non-par when...