Life Insurance Investments

Life Insurance Investments

Term life insurance is the best investment choice for most individuals because it is the least expensive type of life insurance and leaves money free for other investments. Permanent life insurance, the other major category of life insurance, allows policyholders to accumulate cash value, while term does not.

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A registered retirement savings plan, or RRSP, is a tax deferring retirement plan that you and your spouse or common-law partner contribute to on a regular basis. Deductible RRSP contributions can be used to reduce your tax. Any income you earn in the RRSP is usually tax exempt, as long as the money remains in the plan.

Contribution limits for registered retirement savings plans are based on income and are tax deductible at the time of deposit. Taxes are only paid when you withdraw from the RRSP.


A Tax Free Savings Account (TFSA) is an account that provides tax benefits for those trying to save money in Canada. Investment income, including capital gains and dividends earned in a TFSA is not taxed, even when it is withdrawn from the account.
Is a TFSA or RRSP better for you? Contact the experts at Daya Insurance today and let us help you decide!

New Immigrant & RRSP

If you have recently immigrated to Canada, you should start to contribute to an RRSP. There are a number of available plans and ways to save available, so contact the experts at Daya Insurance today and let us help you decide the best route to take to prepare for your future with peace of mind.