Issam Bawady, Senior Life and Living Benefits Specialist , RBC Insurance

10/21/2024

The start of 2024 marked a turning point for housing affordability in Canada. Home prices flattened (or fell marginally in some markets), while fixed mortgage rates eased in anticipation of central bank rate cuts and workers sustained solid wage increases. These developments finally halted the historic runup in homeownership costs that took place during the pandemic.

09/22/2024

Learn what bare trusts are and if the tax implications apply to you: https://bit.ly/4gsJeoN

09/21/2024

If you owned the goose that laid the golden egg, which would you insure first?
Naturally, you would insure the goose – as long as you have the goose, you can always get more eggs. In other words, if the golden egg represents your valuable assets such as your home or automobile, the goose represents your earning power. By insuring your ability to earn an income, you can protect you and your loved ones if you’re ever unable to work due to an illness or a disability. Talk to your insurance advisor to learn more about RBC Insurance disability coverage.

Your provincial health plan can help with the medical bills. But to replace lost income, you need disability insurance. Explore the benefits and coverage options at RBC Insurance.

09/20/2024

If you owned the goose that laid the golden egg, which would you insure first?
Naturally, you would insure the goose – as long as you have the goose, you can always get more eggs. In other words, if the golden egg represents your valuable assets such as your home or automobile, the goose represents your earning power. By insuring your ability to earn an income, you can protect you and your loved ones if you’re ever unable to work due to an illness or a disability. Talk to your insurance advisor to learn more about RBC Insurance disability coverage.

08/29/2024

Between the different coverages and features, choosing the travel insurance credit card that’s right for you may be challenging. Learn how to get the best travel insurance card for you based on the types of travel insurance you need, the features and advantages of travel cards, and more.

Learn how to get the best travel insurance card for you based on the types of travel insurance you need, the features and advantages of travel cards, and more.

08/21/2024

Business-owned life insurance can protect business owners’ families from having to pay any debts or loans if the policy holder dies.
Business-owned whole life insurance offers an increasing cash value which business owners can use as leverage to obtain loans to grow or adapt their business.
Business-owned life insurance provides a tax-free payment if the business owner, partner or key employee dies, which can alleviate the financial impact of finding and training a suitable replacement.
Business-owned life insurance can strategically be used to improve employee experience and retain valuable employees.
Some forms of business owner life insurance have tax deductible premiums.

Contact me to learn how YOU can take advantage of life insurance in your business.

08/20/2024

How Much Life Insurance Should a Business Owner Have?

A simple way to look at it is that “If your life insurance is funding a buy-sell agreement, then your coverage should typically be commensurate with the fair market value of the business,”

For other types of insurance for business owners, consider factors like:

-The size of your business
-Your overhead costs
-The number of employees
-The company’s financial stability
-Your personal financial situation
-The amount of debt the company has
-Whether you have a buy-sell agreement in place

Ultimately, the goal of business life insurance is to make sure your business (and family) can continue to run smoothly without you.

Contact me to identify the right type of life insurance and coverage amount.

08/19/2024

Grow your money with life insurance:

Did you know that some life insurance policies include something called a cash value that grows over time? And did you know that some of those policies allow you to access that cash value while you’re living?
Permanent life insurance policies are life-long and have cash value that increases over time. These permanent policies contain a death benefit (or face amount), which is the amount paid at the time of death, and a cash value that grows over time on a tax-deferred basis, similar to retirement or tuition savings plans.

Allow me to show you how you can invest in your life insurance policy.

08/18/2024

What is Whole Life Insurance?

Whole life Insurance is your simplest option with virtually no risk. The premiums do not change with whole life policies. Also, the death benefit and cash value amounts are guaranteed.
When you purchase whole life, you will receive a chart with predetermined cash value amounts for each year of your policy.
Allow me to show you how your life insurance policy can work for you.

08/17/2024

What is the best age to get life insurance?
As we age, we're at increased risk of developing underlying health conditions, which can result in higher mortality rates and higher life insurance rates. You'll typically pay less for term life insurance at age 20 than if you wait until age 40.

08/16/2024

Holding an investment inside an insurance policy is extremely tax efficient; unlike other corporate investment income, the growth inside a whole life insurance policy does not affect the small business tax deduction, so the investment held in your policy can grow tax sheltered without being counted towards your company’s passive income Limitations.
Will the changes to capital gains taxes affect you? If yes and you’re curious to learn more about this tax planning strategy and how it can help you, Email me and let's book a time to chat!!

08/15/2024

No matter how old you are or how much money you have, you should consider estate planning. Talking about your financial assets and future wishes can feel awkward, but addressing these issues now can help you feel more confident about your future and ultimately the legacy you’ll leave to your loved ones.

Estate planning allows you to protect the wealth you've accumulated over your lifetime while helping you better secure your family's financial future.