We're building our financial security step by step
Our priorities
Maintain our standard of living should tragedy strike
Maintain our financial stability in the event of the unexpected
Plan our projects and our retirement
Reduce our tax burden
Our solutions
Maintain our standard of living should tragedy strike
Should one of us die prematurely or become disabled, would we have enough money coming in to keep our estate intact and maintain the quality of life we've become accustomed to?
- Term Life Insurance: Should one of us die prematurely, a tax-free lump sum will be provided for the surviving spouse, allowing him/her to maintain his/her standard of living until retirement. When this coverage expires, we'll have sufficient retirement savings to maintain the quality of life we've planned for this time in our life.
- Disability benefit: If disability were to strike and one of us had to stop working, our family income would be seriously affected. By taking out this type of coverage for both of us, we don't have to worry because we know that in the event of disability, we'll receive a monthly tax-free benefit.
- Payment of premiums in the event of disability - universal life insurance: In the event of disability, a monthly benefit will be paid into the accumulation fund under our universal life policy to cover part or all of our insurance premiums. This way, we won't have to worry about paying our premiums if our income is reduced due to health problems.
Maintain our standard of living should one of us be diagnosed with a critical illness.
- Critical Illness Insurance: By taking out this coverage, we'll be protected against the financial consequences of a critical illness. If one of us were to be diagnosed with such an illness, s/he would receive a tax-free lump sum during his/her lifetime to help with additional expenses. This amount can be used however we feel is best, depending on our needs at the time.
Maintain our financial stability in the event of the unexpected
We've put money aside for emergencies. If something unexpected were to happen, we'll be able to maintain our standard of living.
- Guaranteed Investment Certificates (GICs) are right for us because they are guaranteed and redeemable at any time. Thanks to these funds, we can face the unexpected without jeopardizing our standard of living.
Plan our projects and our retirement
We take a trip every year and use this opportunity to relax and get away from it all. It's very important for us.
When we retire, we'll want to maintain our lifestyle and live our life fully. We systematically contribute to our RRSPs through payroll deductions and by doing so we're sure to meet our goals.
We've chosen multistrategy investments for our individual RRSPs and Desjardins Financial Security's Guaranteed Investment Funds for our Group RRSPs. These investments match our needs perfectly:
- Our multistrategy investments allow us to diversify our portfolio on an international scale between various asset classes (shares, bonds, money markets, currencies) and according to a broad spectrum of investment strategies.
- The wide range of Desjardins Financial Security's Guaranteed Investment Funds also lets us take advantage of greater diversification and market growth potential.
- In addition to being managed by professionals, the capital of these products is guaranteed at maturity. As a result, we have the best of both worlds, security and performance.
Reduce our tax burden
We want to lower our tax burden and retire as early as possible.
- Investments in universal life insurance: We are currently contributing the allowable maximum to our RRSP. Thanks to the investment option in our universal life policy, we can invest tax-free and thus accumulate even more savings that will help us reach our retirement objectives.
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Since our investments are issued by one life insurance company, we have designated a beneficiary for each of our contracts. When we die, the capital will go directly to the beneficiary and thus be excluded from our estate and won't be subject to probate fees.* |
* In Quebec, a notarized will and the estate capital are not subject to probate.
I need advice tailored to « My situation »
I want to contact a financial security representative who will assess our (insurance) and savings needs and suggest products tailored to our family and our financial situation.
