Investments

GIC

A Guaranteed Investment Certificate (GIC) is exactly that; a guaranteed investment, maturing at a specified time. Also known as a fixed income security – your income stream is known, as is the maturity date, and value of the investment. A pretty safe bet. Most investors today have used GICs at one time or another to round out their portfolio.

Allen Insurance Group boasts the best GIC rates. Research and access to major financial institutions guarantees those rates that are passed on to you.

RESP

Over the past decade, annual post-secondary tuition fees in Canada have, on average, more than doubled. At the same time, advanced education has become more important to success than ever in our increasingly knowledge based economy.

Your Allen Insurance Group advisor can help you understand the different characteristics that make RESP’s a powerful cash-accumulation vehicle to plan for the future well-being of your children or grandchildren.

RRIF

If you hold a Registered Retirement Savings Plan at retirement, you can take advantage of further tax sheltering through a Registered Retirement Income Fund (RRIF).

Your RRIF can be made up of a variety of investments. The retirement planning specialists at Allen Financial will help you wade through the multitude of choices for your retirement years to maximize your tax deferral and minimize your taxable income

RRSP

An RRSP is one of the best tools available when it comes to saving for your retirement. Whether you are an investor who is just starting out, or a veteran of the financial markets, many people agree that the best place to start is by opening up a Registered Retirement Savings Plan (RRSP).

Annual contributions are tax deductible and any income earned can accrue tax free as long as it remains in the plan. Proper financial planning can help you meet your retirement goals in the future. An Allen Insurance Group advisor can work with you to develop a investment strategy that will enable you to reach those goals.

Segregated Funds

Segregated Funds offer investors the ability to invest in a comprehensive mix of global, international and domestic funds created to meet everyone’s needs. As well as offering many investment opportunities, segregated funds are insurance contracts and therefore provide additional features.

Guarantees that are common to every segregated fund contract include a death benefit guarantee and a maturity guarantee. The death benefit guarantee protects a specific percentage of the value of an investment upon the death of the contract annuitant.

The maturity guarantee protects a percentage of the value of an investment at the end of a specified term (typically 10 years).

In the event of death of the annuitant, the proceeds of an insurance contract pass directly to a named beneficiary without going through probate. The benefit is that the asset avoids probate and estate administration fees. Furthermore, the beneficiary will also receive the proceeds without extended delays — a considerable benefit during a time of need.

In general, when the beneficiary is a parent, child, grandchild or spouse of the annuitant (for Quebec, ascendants and descendants of the owner), and the contract wasn’t set up for the purpose of avoiding creditors, segregated fund assets may be protected from creditors.

This is a benefit to all small business owners, professionals and entrepreneur who want a cost-effective means of ensuring their personal financial assets are not subject to professional liability.