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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.
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Heritage Insurance Ltd Office
Heritage Insurance, Ltd.
100A Fairford Street West
Moose Jaw, SK S6H 1V3

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Phone: (306) 693-7640



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