Registered Education Savings Plan

REGISTERED EDUCATION SAVINGS PLAN (RESP) This plan allows subscribes to make non-deductible contributions to finance the post-secondary education of their children, grand-children, or any other qualifying beneficiary. Beneficiaries under the plan, if enrolled in a qualifying educational program, may receive payments of up to $5,000 for the first 13 week period of study and any […]

What is Home Buyer’s Plan?

HOME BUYERS’ PLAN (HBP) This plan allows a tax-payer and his/her spouse or common-law partner to each withdraw up to $25,000 from their RRSP to purchase their first home without having to pay tax on the withdrawal if they meet the following conditions: • They are first time home buyers (i.e., they have not owned […]

What is Pension Adjustment?

PENSION ADJUDTMENTS (PA, PAR, PSPA) The Pension Adjustment (PA), the pension adjustment reversal (PAR), and the past service pension adjustment (PSPA) have an impact on the RRSP deduction limit. Pension Adjustment The PA reduces the RRSP deduction limit for the following year, but has no effect on the taxpayer’s income. It measures the value of […]

Employers offered Pension Plans

REGISTERED PENSION PLAN (RPP) Registered pension plans allow individuals to accumulate retirement funds by means of at-source deductions against their salary. The employer and employee may contribute to an RPP with respect to services rendered by the employee in the year of during a previous taxation year. For more information on RPPs, see CRA Guide […]

Critical Illness Insurance

Critical illness insurance is increasingly attractive to individuals looking to secure their financial health in the event of illness. A number of companies now offer this type of insurance, each with its own set of conditions. Take the time to familiarize yourself with the main features of this type of insurance so that you can […]

Some Key Super Visa policy terms and conditions

Pre-Existing Conditions Generally, pre-existing conditions are defined as any sickness, injury or medical condition for which the insured consults a physician, having symptoms, is hospitalized or medications are prescribed within a certain period before the effective date of coverage. Each insurance company treats pre-existing conditions differently and this is the major reason for declined claim […]

Visitor to Canada Emergency Medical Insurance FAQs

About the Emergency Medical Insurance Requirement for the Super Visa Because visitors to Canada are not covered by a Government Health Insurance Plan (GHIP), the government of Canada requires visitors under the super visa to have emergency medical insurance. As discussed previously in this article, the insurance plan must: • Provide coverage of $100,000 or […]


Please fill our short form and one of our friendly team members will contact you back.

Travel Insurance Quote