Life Insurance
Life insurance helps you cover final expenses, protect your loved ones’ lifestyle, and leave a legacy. It’s especially important if others depend on you financially, and in some cases, it can also help grow your wealth.
Term life insurance helps you meet short-term protection needs over a set period of time. It’s ideal if you’re looking for a cost-efficient way to cover large debt for a specific term – for example, a mortgage.
Disability Insurance
Disability insurance replaces a portion of your income if an illness or injury prevents you from working. It provides regular, tax-free payments so you can continue meeting your financial obligations while focusing on recovery. Whether you’re employed or self-employed, it helps protect your lifestyle and long-term financial security.
Critical Illness Insurance
Critical illness insurance provides a one-time, tax-free payment if you’re diagnosed with a covered serious illness such as cancer, heart attack, or stroke. You can use the money however you need: to cover treatment costs, replace income, or support your family while you recover. It’s designed to help protect your finances during one of life’s most difficult moments.
Investments
Where Can I Start?
Mutual Funds: a flexible way to invest your money
Mutual funds allow you to invest in a portfolio of assets that are managed by professionals. They let you diversify your portfolio more widely than you may be able to do when investing in individual stocks and bonds on your own.
Segregated Funds: protect your wealth as it grows
Segregated funds invest in a variety of stocks and bonds. They offer unique protection features that are only available through insurance companies. They’re a great way to save for your retirement and investment goals.
Mutual and segregated funds work the same way.
For both investment options, money is pooled together for the benefit of the investors, and to buy a variety of different investments based on the fund’s investment goals.
How do they work?
It gives you access to investment managers, which may make it easier for you, since investing on your own can be complicated.
This does two things:
It spreads your money among different investment options, to help reduce investment risk. For instance, if you put all your money in one stock, and it goes down, you could be in trouble. Segregated and mutual funds split money among various investment options held in a single fund, so there’s less risk.
Title | Mutual Funds | Segregated Funds |
|---|---|---|
Estate planning | Mutual funds held within a registered plan, proceeds are passed on to your named beneficiaries when you die. No probate tax. | When you die, proceeds go directly to your named beneficiaries and won’t flow through your estate. No probate tax. |
Variety of investment options | Similar. | Similar. |
Type of investment | A pool of money spread across different investments, managed by experts. | A pool of money spread across different investments, managed by experts. |
Potential creditor protection | For mutual funds held within a registered plan, bankruptcy protection may apply. | Yes. |
Guarantees | None. | Insurance guarantees can protect much or even all your original investment at death and policies maturity date. |
Fees | Less than segregated fund policies. | More than mutual funds due to paying a premium for the insurance guarantee. |