The insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured. Life insurance can be divided to Term insurance, Universal life insurance and Participating whole life insurance.
The insured person could get weekly or monthly care benefits when they can’t perform activities of daily living or need constant supervision because of deteriorated mental ability.
Group insurance provides a mechanism for employers to provide employee benefits as part of an employee’s total compensation package. Group insurance benefits commonly provided in the Canadian marketplace include Group Life Insurance，Group Disability Income Insurance and Group Health Insurance
A mutual fund is a portfolio that may contain bonds, stocks or other investable assets like money market products that are selected and managed by a professional fund manager.
Tax advantage retirement plan
A Registered Retirement Savings Plan (RRSP) is a tax-deferred retirement savings and investing vehicle. Money in the RRSP accounts can grow tax free and be withdrawn with marginal tax rate then.