Kassab Finance - Education

💡 Life Insurance Tips

Start early – The younger and healthier you are, the lower your premiums will be.
Choose the right type – Term life is ideal for temporary needs (like covering a mortgage), while permanent life offers lifelong coverage and cash value growth.
Review regularly – Update your coverage after major life events such as marriage, having children, or buying a home.
Don’t just focus on price – The cheapest policy isn’t always the best; look at flexibility, conversion options, and coverage limits.
Consider additional riders – Options like critical illness or disability riders can add extra protection for you and your family.

🚗 Car Insurance Tips

Increase your deductible – A higher deductible can lower your monthly premium if you can afford a larger out-of-pocket cost in case of a claim.
Bundle your policies – Combining auto and home insurance with one provider can earn you significant discounts.
Maintain a clean driving record – Safe driving leads to lower premiums and loyalty rewards.
Review your coverage annually – Make sure your policy reflects your car’s current value and your driving habits.

💰 RRSP (Registered Retirement Savings Plan) Tips

Contribute early and regularly – The sooner you invest, the more your money can grow tax-deferred.
Take advantage of employer matching – If your employer matches contributions, contribute enough to get the full benefit.
Know your contribution limit – Avoid penalties by staying within your yearly RRSP limit.
Plan your withdrawals – Withdraw strategically in retirement to minimize taxes.

🎓 RESP (Registered Education Savings Plan) Tips

Maximize government grants – The Canada Education Savings Grant (CESG) adds up to 20% on your contributions each year (up to certain limits).
Automate contributions – Small monthly deposits can add up significantly over time.
Stay within contribution limits – The lifetime maximum per child is $50,000.
Plan withdrawals wisely – Use grants and income for education expenses first to avoid extra taxes.

Statistics:

The average Canadian family using an RESP saves over $16,000 more per child for post-secondary education compared to those who don’t (Government of Canada, CESG data), and the government contributes up to $7,200 per child in matching grants — free money that directly supports education goals.
Families with life insurance are 3x more likely to recover financially after the death of a breadwinner compared to those without coverage
RRSPs help Canadians save up to 30% more efficiently due to immediate tax deductions and compounded growth over time.
Nearly 60% of TFSA holders say the account helps them feel more in control of their finances and better prepared for emergencies.

This website is not an official website or publication of iA Financial Group (Industrial Alliance). The information and opinions shared here are those of the independent insurance broker and financial advisor, and do not necessarily reflect the views of iA Financial Group or its affiliates.

The content on this website is provided for informational purposes only and should not be considered as specific financial, insurance, or investment advice. While efforts are made to ensure accuracy and reliability, no representation or warranty—express or implied—is made regarding the completeness or correctness of the information provided.

Products and services offered through this website are independent of iA Financial Group and are available only in provinces or territories where the advisor is duly licensed and authorized to operate.

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