DFG Blog - Dehoney Financial Group

Time Frame Shortens on Life Insurance Tax Saving Opportunity.

save tax

Get your application in before October 1, 2016 insurer warns.

Last week, Industrial Alliance announced that any life insurance application submitted after October 1, 2016 would be based on their new 2017 product. This news is not unexpected. With the introduction of less favourable tax rules for certain life insurance products coming into effect January 1, 2017, people are looking to maximize their tax shelter room. Policies established before January 1, 2017 will be grandfathered. For more details on the changes read more here.
The new 2017 rules reduce the amount of investment capital that can be held […]

Critical Illness: Are you rolling the dice with your future?

Rolling the dice

It’s difficult to begin an article about the need for Critical Illness (CI) without showing an alarming statistic about the incidence of serious or life-threatening illness among Canadians. The reason? Statistics tend to be accepted as FACT and, at least to some degree, resistant to emotional arguments. In the case of Critical Illness or other kinds of insurance coverage, statistics should help to rebalance our personal opinions about whether or not we’ll face a serious illness in our lifetime or require insurance protection.

But, here’s the interesting part…despite […]

Changes to BC MSP Premiums arriving 2017.

On February 16, 2016 British Columbia’s Ministry of Finance announced upcoming changes to BC Medical Services Plan (MSP) premiums. These changes take effect January 1, 2017. As the government’s backgrounder suggests, the upcoming changes are designed to benefit single parent and low-income families. All children will be exempt from MSP premiums and the new premium structure does away with Family of Three or More and Family of Two rates. The new premium rate structure – $78/month per Single Adult – is based upon the number of adults in a household. For more information on the upcoming changes and […]

Are your employees confident about their retirement planning?

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Most members of a group retirement plan won’t be raising their hands.

Over the past decade and during 100’s of group retirement plan employee seminars, we have asked employees across industries and age groups if they are confident they will be able to retire comfortably. Time after time, in a room filled with people, only one or two people will raise their hands. Surprised?

With certainty, what we know about the standard enrollment and education process is that most employees are provided with plan rules and a full list of investment options, but given […]