Call (306) 693-7640 ☰ ˟
Client Login My SGI
Logo
Call
(306) 693-7640
  • Home
  • About
    • About Us
    • Privacy Policy
    • Refer a Friend
    • Testimonials
    • Terms & Conditions
  • Insurance Services
    • Automobile
    • Business
    • Commercial Auto
    • Contractors
    • Disability
    • General Liability
    • Homeowners
    • Life
    • Trucking
    • Tenants
  • Instant Quote
    • Annuities
    • Automobile
    • Business
    • Commercial Auto
    • Condo
    • Contractors
    • Critical Illness
    • Disability
    • Employee Benefits
    • General Liability
    • Group Pension
    • Health & Dental
    • Homeowners
    • Life
    • Non-Medical
    • Renter/Tenant
    • Trucking
  • Clickable Coverage
  • Free Newsletter
  • Blog
  • Ask The Expert
  • Contact
    • Contact Us
    • Join Our Team
    • Location
Home Insurance Auto Insurance Business Insurance Trucking Insurance
Home > Blog > Revisiting Critical Illness Planning
MONDAY, NOVEMBER 16, 2015

Revisiting Critical Illness Planning

Critical Illness InsuranceA few years back around this time, I wrote an article on preparing your financial planning around potentially incurring a major illness. What would happen to your RRSP should you become sick and not have the necessary funds to get us through that time period in our lives? I mentioned in that article that a scenario we could look at would be to scale back our RRSP contributions and apply the difference to a Critical Illness policy with a return of premium; what this would do was twofold.

Should you get diagnosed with an illness you would then not have to dip into your RRSP and potentially jeopardize your retirement plan - especially not knowing what will happen to the markets (possibly forcing you to liquidate funds during a low time in the markets).

Should you not incur any major health problems then we may have lost nothing. All of your funds are returned to you at 100% - funds that you can use towards retirement funding.

The bottom line is this: Simply by planning and not leaving things to chance we can still end up with our desired income during our non working years. By not planning we are really sticking our necks out at which point, should something bad occur we could be left scrambling.

Is the above scenario right for your situation? Possibly Yes and possibly No. There are many options to look at. The most important part of this is to have a discussion to see what would be best for your particular situation. I would be more than happy to assist you with any questions you would have.

Call me today.

-Russ MacDonald, Heritage Insurance Ltd.
306-631-9738


*****
Protect your finances. Call Heritage Insurance LTD at (800) 667-7640 for more information on Moose Jaw SK life insurance.
Posted 1:00 PM

Tags: life insurance, critical illness, retirement, financial planning, coverage,
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010

  • insurance(425)
  • heritage insurance(408)
  • moose jaw(309)
  • saskatchewan(286)
  • ask the expert(223)
  • greg marcyniuk(222)
  • safety(202)
  • customer service(180)
  • information(178)
  • personal(178)
  • full service(175)
  • tips(149)
  • business(134)
  • coverage(133)
  • community(129)
  • sask vehicle registration(110)
  • home insurance(106)
  • protection(76)
  • auto insurance(64)
  • car insurance(57)
  • home(50)
  • business insurance(50)
  • life insurance(49)
  • regina(44)
  • winter(37)
  • house(32)
  • auto(32)
  • driving(30)
  • car(26)
  • summer(24)
  • policy(24)
  • liability(23)
  • prevention(23)
  • moose jaw insurance(21)
  • advice(20)
  • trucking insurance(19)
  • snow(19)
  • family(19)
  • homeowners(17)
  • accident(16)
  • weather(15)
  • vehicle(15)
  • moose jaw sk insurance(15)
  • claims(14)
  • russ macdonald(14)
  • spring(14)
  • commercial(13)
  • seasonal(13)
  • ice(13)
  • children(12)

View Mobile Version
App Download
Download our Mobile App Today
Logo
LinkedIn Facebook Twitter YouTube Google+
Site Links
Home
About Us
Refer A Friend
Free Newsletter Testimonials
Blog
Ask The Expert
Contact
Privacy Policy
Terms & Conditions
Heritage Insurance Ltd., Insurance Services Office, Moose Jaw, SK
Heritage Insurance Ltd
© Copyright 2021. All rights reserved. Powered by Insurance Website Builder.