INVESTMENT
Secure investments with comprehensive insurance coverage for financial protection and growth.
An investment insurance offers products that combine insurance coverage with investment opportunities. These products, such as variable life insurance and variable annuities, allow policyholders to allocate premiums into various investment options, potentially providing growth opportunities alongside insurance protection. The aim is to help individuals build wealth while safeguarding their financial future.
The first step to investing is to define your financial goals in the next few years, then decide on a monthly basis how much you are willing to invest. Reach out to one of our financial advisors to set up a free consultation where our specialist can review your financial state and create a personalized financial plan.
Segregated Funds
A type of pool investment that is similar to a mutual fund, but is considered an insurance product. This investment can have specific term or death benefit guarantees that allow for less risk to the investor. A Segregated fund also allows for a Non-Registered account to list a beneficiary. This can be a very important piece of the puzzle when completing the Estate Plan.
Registered Retirement Savings Plan (RRSP)
This investment can be one of the ways you save for your retirement. Contributions made to an RRSP are tax-deductible and taxes are deferred until the money is withdrawn from the plan. An RRSP can contain stocks, bonds, mutual funds, GICs, contracts, and even mortgage-backed equity.
"Access low-rate borrowing for RRSP " You can borrow at very low rate to invest in RRSP.
Your RRSP will be converted to RRIF by the end of your 71st year. You will start receiving annual payments, which is set by the Government of Canada.
Tax-Free Savings Account (TFSA)
Tax free accounts are where you can maximize your growth tax free. so there are no taxes on the growth and you do not have to pay any taxes when you withdraw funds. Contributions are not tax-deductible and any unused room can be carried forward indefinitely. This savings account is available to individuals aged 18 and older and can be used for any purpose.
First House Saving Account (FHSA)
Introducing the First Home Savings Account (FHSA), a registered plan aimed at helping Canadians save for their first home. Contributions are tax-deductible, offering potential tax savings. With a maximum lifetime deduction of $40,000 and the ability to carry forward up to $8,000 of unused participation room annually, FHSA provides flexibility. Income earned within the account doesn't affect RRSP contribution room. At Apical, we're dedicated to assisting eligible Canadians, aged 18 and above, in opening one or more FHSAs. Let us help you achieve your homeownership goals faster.
Registered Education Savings Plan (RESP)
This is an investment vehicle used by parents to save for their children’s post-secondary education in Canada. The principal advantages of RESPs are access to the Canada Education Savings Grant (CESG) and a source of tax-deferred income. An RESP is a tax shelter, designed to benefit post-secondary students. With an RESP, contributions are or have already been, taxed at the contributor’s tax rate, while the investment growth (and CESG) is taxed on withdrawal at the recipient’s tax rate. The government of Canada will contribute 20% of the first $2,500 in annual contributions made to an RESP. After changes introduced in the 2007 Canadian federal budget, the government may also contribute up to $500 per year to a participating RESP. In BC Government also contribute $1,200 to eligible children through the B.C. Training and Education Savings Grant (BCTESG). This income is available upon withdrawal from the RESP by a post-secondary recipient, with a maximum lifetime contribution of $50,000.
Guaranteed Investment Funds (GIF)
A low-risk investment option that guarantees your principal deposit and offers a set amount of fixed interest. The principal is at risk only if the bank or financial institution defaults.