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Helping you choose the ideal retirement plan

After investing in a property and choosing a comprehensive insurance plan for you and your dear ones, choosing a retirement plan so you can live your golden years financially independent and in peace is probably one of the biggest decisions you will make in your life. However, if you don’t know much about the market, you may end up choosing a policy that might save your money but not meet your requirements. At InsLyf Brokerage that’s what we are here to do, help you choose a retirement plan that fulfils your financial criteria. You can schedule an appointment with us today and discuss your needs, we will be more than happy to help you. Gives us a call or drop a message.

Retirement plans- understand how they help you

Well, the answer’s in the name in itself, retirement plans are certain policies that can help you continue living your standard lifestyle without worrying much about finances. You can also consider them as insurance products that can help you grow your savings over a lifetime so you can have financial security in the future. With the proceed of this policy, you will also have the option to choose a monthly pension benefit plan by purchasing an annuity plan as well. You can take advantage of dual benefits- financial protection and investment. If you have any queries, feel free to contact our team at InsLyf Brokerage. Our team has the knowledge and expertise to resolve them.

Some factors that you should consider before choosing

You already know how impactful choosing a retirement for your future finances would be. So, before you opt for one, here are some factors that you should consider:

  • Vesting age: This is the age when your pension plan would start and it will depend on your career as well as your financial status
  • Premium payment term: The period when will you will pay for the policy premiums
  • Annuity: Determine how much income you would need post-retirement
  • Rider: Whether you require additional benefits
  • Policy surrender charges: In case you surrender your policy, you should know of these charges

A large portfolio of retirement plans that we offer

One of the reasons why InsLyf Brokerage is very well-known is due to the fact that we offer several financial products to choose from for our clients and that doesn’t differ for our retirement plans as well. Have a look at what we have to offer:

  • RRSP: Better known as Registered Retirement Savings Plan is an extremely popular option amongst our clients. You can contribute up to 18% of your annual income to this policy and the best advantage that you will get is, that this contribution would be completely tax-free till you withdraw it. The savings grow over time and that is also tax-free.
  • RRIF: Registered Retirement Income Fund can help you get a steady income flow after you retire and you can compare it to an annuity contract which functions the same way. One ideal way to generate this income is to transfer your RRSP savings to the balance of your RRIF and that would create a steady stream of post-retirement income for you.
  • Annuities: It’s a type of financial product that can ensure that a portion of your savings is turned into a regular income for a fixed period of time or for the rest of your life. You should know that market fluctuations and interest rate changes won’t affect t this income stream and you will receive your payments to cover your monthly expenses.
  • Life income funds: This financial product is specifically made for individuals who want to manage their payouts from pension funds that are locked in, as well as other assets. As you know, when you are working in a firm, your pension assets would be frozen; if you want to access them, you will have to convert them to life income funds

Other than these policies, there’s also estate planning and you can find out all about them by getting in touch with our team at InsLyf Brokerage. We look forward to hearing from you.

Schedule an appointment with InsLyf Brokerage to discuss your retirement plans with us. Contact us today!