TigerLife Financial Services

Cost vs. Benefit >Here's a real-life case that we think you’ll find interesting.

A client had purchased a segregated fund with $100,000 and 100% death benefit guarantee. A couple of years later, the market value was $120,000 and the client reset the death benefit to $120,000. Not too long after, there was a market correction and the market value slipped to $105,000. Then, unfortunately, the client passed away.

Cost vs. Benefit Here's a real-life case that we think you’ll find interesting. A client had purchased a segregated fund with $100,000 and 100% death benefit guarantee. A couple of years later, the market value was $120,000 and the client reset the death benefit to $120,000. Not too long after, there was a market ...

Like most people, your answer is probably: YES!

Discover effective tools to establish a tax reduction strategy and promote growth of your savings.
Here are four options to reduce your tax bill as much as possible.
1. High Interest Savings RRSP
A registered retirement savings plan (RRSP) is the ideal financial instrument to accumulate a retirement fund. Its numerous investment options make it the number one choice in tax-free accumulation products.
— Your contributions benefit from an immediate tax deduction
— Your investment income is sheltered from tax
— You benefit from guarantees on your investments

2. The TFSA - A tax-free savings account (TFSA) gives you access to a wide variety of investment options, including guaranteed interest investments, a large choice of segregated funds and even a high-interest TFSA.
— Your investment income is sheltered from tax
— Withdrawals are non-taxable
— Unused contribution room is cumulative
— Withdrawals are converted into contribution room

3. Universal Life insurance is a highly flexible financial tool that combines insurance coverage and a savings account in a single contract.
— Your investment income grows in a tax shelter
— The death benefit is paid tax-free

4. RESP - A registered education savings plan (RESP) is a major incentive to save for your children’s postsecondary education.
— Investment income grows sheltered from tax
— When you contribute, the federal government, as well as certain provinces, pay generous grants (a minimum of 20%, potentially exceeding 30% in some provinces).