The total net value of your estate represents what you will leave to your family when you die. It may include the following:
- Your residence;
- Cottage or other recreational property;
- Investment real estate;
- Stocks, bonds, mutual funds and commodities
- Life insurance;
- Any other assets you wish to leave to your heirs.
After paying off any liabilities, taxes arising at death, last expenses etc., what is left over is what your family will use to maintain the lifestyle that you created for them.
Two easy ways to make sure debt and investment losses do not impact the estate you leave for your family Read more
Without a doubt, life insurance is valuable protection provided by your employee benefit plan, but should it be the only life insurance coverage you have? Probably not, if you want to ensure you have sufficient long term protection to cover all your family’s financial needs should you die unexpectedly.
In a recent study conducted by the Life Insurance and Market Research Association (LIMRA), it was reported that 61% of Canadians hold some form of life insurance. Surprisingly, it also revealed that only 38% of Canadians own an individual life insurance contract. This means that almost 40% rely solely on the life insurance provided by their employer. This can be problematic. The disadvantages of having your employee benefit plan as your only life insurance protection include the following: Read more