Life & Health: Term Insurance Plan

Term insurance is short term life insurance insurance plan. Term insurance is at first the most affordable cost life insurance security that you can buy for individuals, families or businesses. It is intended to protect a wide range of short-term insurance needs such as income replacement, loan-mortgage-debt coverage, buy sell, & key person etc. Common premium structures for term products increase the amount of premium payable at the following intervals: 1, 5, 10, 15, 20, 30 years. Generally invested in term products are Term-10 and Term-20.  Term insurance is also offered with level pay periods and coverage periods of 65 and 75 years.  Term to age 100, or T-100 may sound as if it is a term insurance plan, is in fact a permanent insurance solution.  Term to 100 provides coverage at the same premium through to age 100, with no increase in price.
Read Original Source: http://www.discoveryinsurance.net/term_insurance.php

Tax corner-Pension income dividing

At first glance, it would appear that spousal Registered Retirement Saving plans (spousal RRSPs) are no loner required because the retirement living income dividing policies allow partners to divided their income in any case when their Registered Retirement Savings Plans (RRSPs) become Registered Retirement Income Funds (RRIFs). However, there are a several conditions in which spousal RRSPs can offer some benefits.

Income dividing at any age

Under the retirement living income dividing policies, you must be at lease age 65 to divided income and you must convert your RRSP into a RRIF. Regular RRSP withdrawals do not qualify for pension income splitting. However, with spousal RRSPs, you can divided income anytime that the attribution policies don’t apply. If a spousal contribution hasn’t been made in the current year or the two previous calendar years, any withdrawals from the RRSP will be taxed to your spouse. Read More

Renovate smart: Tips to consider before knocking down walls

Unless you’ve purchased a new home custom designed to your liking, chances are you have a few renovations in mind. In fact Canadians are predicted to spend $46 billion on home renovations in 2011, up slightly from $45.3 billion in 2010.

If you are thinking about renovation, you’ll want to do some research to make the most of your renovation dollars. And while it may be tempting to add a Jacuzzi or a state-of-the-art home theater system, it is always wise to approach renovations with resale value in mind. After all, circumstances can change quickly requiring a sudden move to a new location. You may be asking ‘where should I start?’ Here are some general recommendations to keep in mind.

For more information on opening an all-in-one account to help finance your home renovation projects, please contact your advisor Twitter

Source: http://www.discoveryinsurance.net/renovate_smart.php