by Frank Restorick | Oct 5, 2026 | Life Insurance
An elimination period is the waiting period between the start of a disability and the day your benefits actually begin, and it commonly runs anywhere from 30 to 365 days, with 90 days a frequent standard in individual policies. Choosing its length is really a trade: a...
by Frank Restorick | Oct 5, 2026 | Life Insurance
A TFSA successor holder is your spouse or common-law partner, and if properly designated, the TFSA transfers tax-free and generally bypasses probate. If you are a successor holder status means the survivor simply becomes the new account holder at the moment of death,...
by Frank Restorick | Oct 4, 2026 | Life Insurance
An inter vivos trust, often called a living trust, is created while you’re alive and holds assets you transfer into it now. A testamentary trust is created by your will and only comes into existence after you die. The practical difference for Canadians comes down to...
by Frank Restorick | Oct 2, 2026 | Life Insurance
When you withdraw from an RRSP in Canada, your financial institution generally withholds 10%, 20%, or 30% depending on the amount, with Quebec using different fractions, and non-residents face a flat 25% baseline. That withheld amount is a prepayment toward your final...
by Frank Restorick | Oct 2, 2026 | Life Insurance
Term life insurance in Canada typically costs a few dozen dollars a month for a healthy young adult with modest coverage, rising significantly for older applicants or larger policies, with age as the single biggest factor behind that spread. Smoking status is the...