We're building our financial security step by step

Our priorities

Maintain our standard of living should tragedy strike
Leave a fair inheritance to our respective children
Prepare our children's future
Plan our retirement

Our solutions

Maintain our standard of living should tragedy strike

Maintain our standard of living and continue to meet our family obligations in the event of premature death or disability.
 

• 20 Year Term Life Insurance: If one of us dies while our children are still dependent upon us, the surviving spouse will receive a non-taxable lump sum that could be used to pay off the mortgage or any other debt. That way, no family member will suffer financially as a result of losing one income.
   
• Disability benefit: If either of us becomes disabled, we could receive tax-free benefits thanks to this coverage. These benefits will be paid monthly and will help us meet our family's financial obligations.
   
• 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. That way, we won't have to worry about paying these premiums if our income is reduced due to health problems.
   

Make provisions should we become critically ill. Both of us are thinking about taking out:
 

• Critical Illness Insurance: Should one of us be diagnosed with a critical illness, s/he will receive a non-taxable lump-sum payment during his/her lifetime that will offset any additional expenses.
   

Put money aside for emergencies, because when the size of a family doubles it's absolutely necessary to have a cushion for the unexpected.
 

• A daily interest account and Guaranteed Investment Certificates (GICs) are always a good idea, because they're guaranteed and redeemable at any time. This emergency fund will help us deal with the unexpected without having to go into debt or jeopardize our lifestyle.
   

Leave a fair inheritance to our respective children

We want to lower the tax bill that will follow our death and we want to make sure that the surviving spouse will be able to maintain his/her standard of living without reducing the estate for our respective children.
 

• Life Insurance: Thanks to this coverage, each of us will bequeath a tax-free sum to our respective children. This insurance amount will make up a part of their inheritance and respect our needs to treat our children equitably. To provide for the surviving spouse's needs, we can bequeath our RRSPs and our employers' retirement plans to each other.
   

Prepare our children's future

Our children's education is vital. Therefore, we want to offer them the possibility of a higher education if they so desire.
 

• Each of us has set up a Registered Education Savings Plan (RESP) for our children, to which our ex-spouses also contribute. This plan is just the right thing, because it's the best way to contribute to our children's education when the time comes.
   

Plan our retirement

To prepare the kind of retirement that we've been yearning for, we've each decided to contribute to our own RRSP, but we've agreed on the investment categories in which we would invest.
 

• Multistrategy investments and Desjardins Financial Security's Guaranteed Investment Funds perfectly meet our needs:
  
   
  • Our multistrategy investments allow us to diversify our portfolio on an international scale, between different 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 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.
     

Since our investments are issued by a 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 life insurance and savings needs and suggest products tailored to our family and our financial situation.