Reliable Medical & Life Insurance for Your Family’s Peace of Mind
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Life Insurance • Critical Illness Insurance • Disability Insurance • Visitor & Super Visa Insurance • Investment •
Visitor, Super Visa / Travel Insurance Partners
Life Insurance Partners
SAI Insurance & Financial Services
Term Life Insurance
Critical Illness Insurance
Whole Life Insurance
Term life insurance provides affordable coverage for a specific period such as 10, 20, or 30 years. If the insured passes away during the policy term, beneficiaries receive a tax-free lump-sum benefit to help protect their financial future.
Whole Life Insurance
Critical Illness Insurance
Whole Life Insurance
Whole life insurance provides lifelong protection with guaranteed coverage and cash value growth. Premiums can often be paid for a limited period, while the policy remains in force for life and can help build long-term financial security.
Critical Illness Insurance
Critical Illness Insurance
Critical Illness Insurance
Critical illness insurance provides a tax-free lump-sum payment if you are diagnosed with a covered serious illness such as cancer, heart attack, or stroke. The benefit can help cover expenses and support your recovery when you need it most.
REGISTERED EDUCATION SAVINGS PLAN (RESP)
- The government may add to your RESP contributions (up to a maximum of $500.00 per year, per child) with the Canada Education Savings Grant (CESG). The CESG is payable until the end of the calendar year in which a child turns 17, and the maximum lifetime CESG payment is $7,200.00
- Although contributions are not tax-deductible, all investment income generated in the RESP is tax-sheltered as long as it remains in the plan.
REGISTERED RETIREMENT SAVINGS PLAN (RRSP)
An account that is used for investment assets and holding savings RRSP’s have many kinds of advantages when it comes to taxes. As long as they fall within the guidelines of the Canadian Income Tax Act. Mutual funds, income trusts, mortgage loans, bonds, and savings accounts are all approved assets. RRSP rules will determine the max contributions, allowable assets, and the converting of the account to a Registered Retirement Income Fund (RRIF) at age seventy one.
TAX FREE SAVINGS ACCOUNT (TFSA)
A TFSA is an account that provides tax benefits for saving. Investment income, including capital gains and dividends, earning in a TFSA is not taxed in most cases, even when withdrawn. TFSA with substantial gain could be taxed. Contributions to a TFSA are not deductible for income tax purposes, unlike contributions to a Registered Retirement Savings Plan (RRSP). A TFSA may contain cash and/or other investments such as mutual funds, certain stocks, bonds or guaranteed investment certificates (GICs).
FIRST HOME SAVINGS ACCOUNT (FHSA)
A first home savings account (FHSA) is a registered plan allowing you, as a prospective first-time home buyer, to save for your first home tax-free (up to certain limits).
- Annual contributions are capped at $8,000 up to a $40,000 lifetime contribution limit.
- A maximum of $8,000 unused contribution room can carry forward to the following year.
- The account can stay open for a maximum 15 years or until the end of the year you turn 71
- Funds in the account grow tax-free, which could mean more money for a qualifying home purchase.
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SAI Insurance & Financial Services
Pankaj Babbar : 613 630 1717 info@saiinsurances.com
Hours
Monday - Friday: 9am - 7pm
Saturday: 10am - 3pm
Sunday: Closed
