by Frank Restorick | Oct 19, 2026 | Life Insurance
Canada has no inheritance tax. If a parent, spouse or relative leaves you money or property, you do not pay tax simply because you received it, and you do not report the inheritance as income. The catch is that the person who died is taxed on their final return, and...
by Frank Restorick | Oct 19, 2026 | Life Insurance
A TFSA can hold far more than cash. Qualified investments include savings deposits, GICs, bonds, mutual funds, segregated funds, and most securities listed on a designated stock exchange, including stocks, ETFs and REITs. Real estate, cryptocurrency held directly and...
by Frank Restorick | Oct 17, 2026 | Life Insurance
A residual disability benefit pays you a share of your normal disability benefit that matches the share of income you lose when you can still work, but only part of the time or at lower pay. If your earnings could drop without stopping entirely, a rider is worth...
by Frank Restorick | Oct 16, 2026 | Life Insurance
Disability insurance replaces part of your income when illness or injury keeps you from working. The Financial Consumer Agency of Canada says disability insurance generally replaces 60% to 85% of income, but caps, offsets and tax treatment decide what you actually...
by Frank Restorick | Oct 15, 2026 | Life Insurance
An in-trust-for (ITF) account is an informal trust where an adult invests on behalf of a minor, and the trustee controls the money until the child reaches the age of majority. The tax picture is the part families miss: the Canada Revenue Agency (CRA) can tax the...
by Frank Restorick | Oct 14, 2026 | Life Insurance
A life annuity pays a fixed, insurer-guaranteed income for as long as you live, while a variable-payment life annuity (VPLA) pays lifetime income that moves up or down with pooled investment returns. The simple rule: pick a guaranteed life annuity to cover essential...