Your Family

Reverse mortgages offer a convenient way for aging Canadians to stay in their homes and get monthly income. It sounds great – but this solution may have an impact on the inheritance left to loved ones. We’ll help you balance the facts, weigh the options, and determine if this is the right fit for your family.

Sure, Canada’s universal health care covers some of the costs, but treatment for a critical illness can involve travel, extended time away from work, alternative or private therapies, and even modifications to your home. A lump-sum payment can replace lost income and cover unexpected costs — so you can focus entirely on your child.

When you name your children as the beneficiaries of a life insurance policy, the payout goes straight to them when you pass away. Because it goes directly to them rather than through your estate, it skips the court process, as well as the fees and delays that come with it...

For parents of young adolescents, a part-time job like babysitting can be a great way to keep the kids busy during the summer months. Not to mention, the course provides youth with the opportunity to learn important life skills and earn some money once they're all done!

If you’re expecting to inherit a home, a cottage, or some money from your parents, you’ll want to keep as much as you can. To minimize taxes – and stress – a family plan for how these items will be transferred to you is essential. There are many things you can start doing now, and it all starts with a family chat about money.

If you are in a dual-income household, ask yourself: Could you (or your partner) afford to make the mortgage payments if the other one were to pass away too soon? If your answer is no, the right term life insurance policy can help your family pay off the loan and stay in your home in case of the unexpected.

Having an intergenerational wealth transfer plan ensures that your loved ones receive your gifts in the most tax-effective way. Learn how to create, share, and adjust a long-term approach that takes advantage of every opportunity to give your loved ones the most money possible.

It’s easy to overlook the financial impact of losing a stay-at-home spouse. That's because they're responsible for unpaid labour — like childcare, cooking, cleaning, and managing the family’s schedule. But if they were gone, the surviving partner would likely need to pay for daycare and housekeeping, and may even need to take time off work until household management was figured out.

Yes, there are some less romantic parts about officially becoming a couple – and that includes joint banking, taxes, and planning for your financial future, which should include life insurance. We get it – the last thing you want to think about is your fiancé(e) dying. But let’s think for a moment. If you knew you could protect your partner’s financial future in the event of your death, would you even hesitate?

Life comes with a lot of milestones: moving out on your own, building a career, starting a family, buying a home, and eventually planning for retirement. Each of these different life stages brings new financial responsibilities — and sometimes new people who depend on you. Life insurance is a tool that helps protect those people if something unexpected happens...