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...
by Frank Restorick | Oct 1, 2026 | Life Insurance
For the July 2026 to June 2027 payment period, Old Age Security recovery tax starts once your net world income crosses the threshold set by Service Canada, and you repay 15% of every dollar above that line. If your income clears the maximum threshold, your OAS can be...
by Frank Restorick | Sep 29, 2026 | Life Insurance
The policy owner is the person or entity with legal control over a life insurance contract, and that control is the single most important fact in the whole arrangement. An owner can change the beneficiary, borrow against the cash value, surrender the policy, or assign...
by Frank Restorick | Sep 29, 2026 | Life Insurance
If you’re a parent expecting more than one child, or you want savings pooled and shared, a family RESP usually makes sense. If the subscriber isn’t related to the child, or you want a dedicated single-beneficiary account, an individual RESP is the right structure....
by Frank Restorick | Sep 27, 2026 | Life Insurance
A life insurance trust in Canada holds policy proceeds outside your estate so a trustee, not an executor, controls how and when beneficiaries receive the money. The right call depends on tax treatment, probate exposure, and how much administration you’re willing to...