by Frank Restorick | Oct 25, 2026 | Life Insurance
Paid-up additions (PUAs) and a term rider both add death benefit to a life insurance policy, but they do opposite jobs. PUAs buy small blocks of permanent, fully paid coverage that build cash value over time. A term rider buys extra coverage for a set number of years...
by Frank Restorick | Oct 24, 2026 | Life Insurance
If you want an annuity whose payments keep up with rising prices in Canada, you can get part of that protection, not all of it. Insurers let you add a fixed yearly increase or a capped indexing feature, and in exchange your first payment is smaller. The rest of your...
by Frank Restorick | Oct 23, 2026 | Life Insurance
A wellness spending account (WSA) is an employer-funded allowance that employees spend on health and lifestyle items such as gym memberships, fitness gear or courses, and then claim back. In Canada, it is generally a taxable benefit for the employee. That is the...
by Frank Restorick | Oct 22, 2026 | Life Insurance
A RRIF and a LIRA are not rivals you pick between. They sit at different stages of the same road. A LIRA is where locked-in pension money waits and grows, with no contributions and no ordinary withdrawals. A RRIF is an income account that pays you out, and it normally...
by Frank Restorick | Oct 21, 2026 | Life Insurance
You can take money out of a First Home Savings Account (FHSA) at any time, but the tax treatment depends on why you take it. A qualifying withdrawal to buy or build your first home in Canada is tax-free. Anything else is a taxable withdrawal, added to your income for...