WEALTH MANAGEMENT
Everyone looks forward to retirement. It’s the start of the rest of your life! But what if you outlive your retirement savings? What if the money you saved isn’t enough to sustain your current lifestyle? Wealth Management and Retirement Planning give you a peace of mind regarding your money, your assets, and the mark you leave on the world. But most importantly, it gives you the ability to make choices without fear.
You are entitled to features that protect your investments throughout your life and assist in the efficient transfer of assets when you pass away.
SEGREGATED FUNDS
A Segregated Fund or Seg Fund is a type of investment fund administered by Canadian insurance companies.
The investor is the holder of a segregated fund contract. Contracts can be registered (held inside an RRSP or TFSA) or non-registered (not held inside an RRSP or TFSA).
FEATURES
Maturity dates
The maturity date is the date at which the maturity guarantee is available to the contract holder.
Maturity & death guarantees
Guarantee amounts are offered in all segregated funds whereby no less than a certain percentage of the initial investment in a contract (usually 75% or higher) will be paid out at death or contract maturity.
Potential creditor protection
Granted certain qualifications are met, segregated fund investments may be protected from seizure from creditors.
Probate protection
If a beneficiary is named, the segregated fund investment may be exempt from probate and executor’s fees and pass directly to the beneficiary.
Reset option
A reset option allows the contract holder to lock in investment gains if the market value of a segregated fund contract increases.
Guaranteed Interest Accounts (GIAs)
Similar to Guaranteed Interest Certificates (GICs) issued by banks, Guaranteed Interest Accounts are issued by Canadian insurance companies and pay a predetermined interest rate on the value of the contribution made for a set period of time. Furthermore, Guaranteed Interest Accounts even offer additional benefits, such as:
- Beneficiary designation
- Guaranteed rates of return
- Estate planning
- Security of principal
- Redeemable/non-redeemable option
- Potential creditor protection