Benefits Archives - 3i Financial

Investment Products

3iwebdev — Wed, 16 Jun 2021 16:15:20 +0000

Investment Products

Why Choose Investment Products?

At 3i Financial Investment Services Inc, we offer a wide range of investment products such as Mutual Funds, Alternative Funds, Exchange Traded Funds (ETFs). Our advisors are dedicated and experienced to construct a better diversified portfolio of investments. Our advisors will help and guide you in reaching your financial goals.

APPROVED BY MFDA TO OFFER ETFs

Investment Fund Products

Mutual Funds

Offers a wider variety of investments
Helps investors grow assets with monthly contribution
Allows you to take advantage of professional investment management

Alternative Funds

Offers a variety of investment vehicles and some tax benefits
Provides opportunities that is not offered in the traditional market
Invests in a non-traditional securities, including cryptocurrency.

Exchange Traded Funds (ETFs)

Ability to buy at a lower cost or smaller amounts
Dividends in an open-ended ETFs are reinvested immediately
Offers Flexible trading and better tax efficiency in taxable accounts.

Sources: Ontario Securities Commission, Investopedia, Fidelity

Find Out More

Tags: Exchange Traded Funds

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Group Benefits

3iwebdev — Tue, 15 Jun 2021 19:10:38 +0000

Group Benefits

What is Group Benefits?

Group benefits helps employers provide health care insurance for theirs employees that is not cover under the provincial health care program. Group benefits plan can put employees at ease and improve morale, which also boost productivity at workplace. Employers can build a plan that fits their organization.

At 3i Financial Group, through our partnership with the leading group insurance providers, we can provide you with all the necessary group insurance coverage for you and your employees.

We have a dedicated Group Benefits team that will work with you to understand your needs and implement benefits solutions to best suit your needs and budget. From the initial discussions and market price comparisons to the enrolment of each plan member to the ongoing service, the Group Benefits team will be there at every step of the way.

Ask us how you can implement the below features to your plan design.

Group Benefits Products

Life Insurance: Provides basic financial protection to an employee’s beneficiary if they die. Available as a flat amount or a multiple of an employee’s salary.

Critical Illness: Helps protect employees and their families financially should they face a serious illness.

Long Term Disability: Provides monthly benefit if an employee cannot work for an extended period of time because of total disability.

Accidental Death and Dismemberment Insurance: Provides for an additional benefit if an employee dies, loses a limb, is paralyzed or loses hearing, speech, or sight as a result of an accident.

Extended Health Care: Covers necessary medical expenses that are not covered by provincial plans. Includes coverage for:

Prescription Drugs
Paramedical Devices (Massage. Chiropractic, Acupuncture, Physiotherapy, etc.)
Vision Care
Hospital Care
Medical Equipment
Emergency Travel Medical

Short Term Disability: Replaces a portion of lost income while an employee is temporarily unable to work because of total disability.

Dental Care: Covers preventative and diagnostic dental treatment as well as coverage for fillings, root canals, extractions and oral surgery. Options for major dental including orthodontic treatments are also available.

Dependent Life Insurance: Helps provide financial protection for an employee in the event a spouse or child’s death.

Source: Canada Life

Contact a 3i Financial Group Advisor today to learn more.

Tags: Emergency Medical Care, Group Benefits, Health & Dental, Hospital Care, Prescription Drugs, Vision Care

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Living Benefits

3iwebdev — Tue, 15 Jun 2021 16:40:07 +0000

Living Benefits

Health & Dental Insurance

Covers the expenses that is not cover under the provincial plan
Help cover the costs of out of pocket services such dental, paramedical, ambulance services, hospital, prescription drugs and vision
For people who are losing coverage, self employed and does not have group benefits
Provides emergency travel medical

Source: Manulife, Healthquotes

Long Term Care Insurance

Provides assistances if you are unable to take care of yourself and for daily activities
Protects your retirement plans and choose the correct care when you need it
Covers the costs for care facility and caregiver
Must be incapable to perform at least 2 daily activities (eating, bathing or dressing) to receive benefits

Source: Ontario Health

Critical Illness Insurance

Provides additional coverage for medical emergencies
One time payment lump if diagnosed with a critical illness
Covers the cost of daycare and renovation to make home more accessible

Disability Insurance

Protects you and your family if you are unable to work and earn an income
Replaces 65% to 85% of your income
Ability to transition back to work with partial benefits

Source: Financial Consumer Agency of Canada, Government of Ontario

Find Out More

Tags: Critical Illness, Health & Dental, Long Term Care

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Insurance Quote

3iwebdev — Tue, 15 Jun 2021 15:39:53 +0000

Insurance Quote

We provide quotes for all your Business, Travel and Individual Insurance needs.

Please choose from the links below, you will be redirected to get a quote of your choice.

Travel Insurance

Manulife Insurance

Allianz

Health

Health and Dental Insurance

Critical Illness

Life Insurance

For more information of different types of Life Insurance, please contact us anytime and let us help you choose the best fit for your needs.

Group Benefits

Group Benefits Plans

Tags: Critical Illness, Dental, Group Benefits, Health, Quote, Super Visa

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Life Insurance

3iwebdev — Tue, 15 Jun 2021 14:54:32 +0000

Life Insurance

Term Life Insurance

Provides your family with financial security if something were to happens to you
Provides protection to your family for a limited time
Gives flexibility on the length and amount of coverages

Permanent Life Insurance

Lifelong coverage with a guaranteed acceptance or required a simple medical report
Premiums may never increase as you age
Build your savings to help live the life you want

Whole Life Insurance

Earn dividends to protect your family and estates
Lifetime coverage with cash value guarantees
Ability to choose how long to pay for premium and frequency

Universal Life Insurance

Provides lifetime coverage and helps in a tax advantage policy to save for the future
Amounts of premiums are invested where it grows tax advantage
Can make partial withdrawal

Sources: Investopedia, Sun Life Financial, RBC Insurance.

Find Out More

Tags: Permanent Life, Term LIfe, Universal Life, Whole Life

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Travel Insurance

3iwebdev — Fri, 11 Jun 2021 18:10:05 +0000

Travel Insurance

What is Travel Insurance?

Travel insurance helps you and your family travel in peace. A small accident can become a major expenditure, which could severely impact your family financial security. At 3i Financial, we pride ourselves on providing our clients with the best and most innovative travel insurance products in the marketplace. Products are chosen for their features, choices, affordability and ease of access.

Who needs Travel Insurance?

Travelling Canadians

Helps with unexpected expenses (Medical and Trip Interruptions).

Visitors to Canada

Provides health insurance and interruption coverage while you are away from home.

Students

Protects against the cost of emergency medical and basic healthcare expenses.

Travel Insurance?. . . Check!

Airplane Tickets? . . . Check!

Passport? . . . Check!

Luggage? . . . Check!

You have packed all the essentials for your next trip!

Find Out More

Tags: Canadians Travelling, Health & Dental, Mediacal, Passport, Plane, Students, Trip Interruptions, Visitors

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RDSP

3iwebdev — Thu, 10 Jun 2021 19:47:23 +0000

RDSP

What is a Registered Disability Savings Plan (RDSP)?

The Registered Disability Savings Plan (RDSP) is a registered savings plan specifically designed for Canadians with disabilities and their families to save for a long-term financial needs.

The plan allows a person who is eligible for the federal disability tax credit to accumulate up to $200,000 in contributions on a tax-deferred basis.

Who is eligible?

To qualify for an RESP, a beneficiary must:

Be eligible for Disability Tax Credit (DTC)
Be a Canadian resident
Have a valid Social Insurance Number (SIN)
Less than 60 years of age

Benefits

As an incentive for parents to contribute to their child’s post-secondary education, the federal government offers two funding mechanisms.

Tax-sheltered earnings

The money you contribute grows tax-free until is taken out.
Get government contributions

The major benefit is that you still qualify for the great government benefits. The federal government matches up to 30% through grants and extra funding for low-income families. There are two funding programs to help you save: Canada Disability Savings Grant (CDSG) and Canada Disability Savings Bond (CDSB).
Easy access when you need it

Withdrawals can be done for any purpose that benefits the person with disability.

Make the most out of your RDSP

Source: Canada Revenue Agency

Contact a 3i Financial Advisor today to see how an RDSP can help you save!

Find Out More

Tags: Tax Sheltered

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Segregated Funds

3iwebdev — Thu, 10 Jun 2021 19:20:52 +0000

Segregated Funds

What is Segregated Funds?

A segregated fund is used by insurance companies to manage individual, variable annuity insurance products. Segregated funds are insurance investment products that are similar to mutual funds; however, segregated funds must be issued in conjunction with a life insurance contract. Segregated funds investor may qualify for RESP, TFSA, RDSP and RRSP.

IVIC’s (Individual Variable Insurance Contracts)

IVIC’s are deferred annuity contracts between the policy owner and the insurance company. The policy owner makes deposits and the insurance company then invests the money in segregated funds.

Some Benefits Includes:

Guaranteed maturity values from 75-100% of your principal after 10 years.
Some segregated fund contracts also offer income guarantees.
Segregated funds investment may also be protected from creditors.
Provide a broad range of investment options similar to mutual funds.

Find Out More

Tags: Individual Variable Insurance Contracts, IVIC's

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RRSP

3iwebdev — Thu, 10 Jun 2021 17:50:38 +0000

RRSP

What is a A Registered Retirement Savings Plan (RRSP)

A Registered Retirement Savings Plan (RRSP) is a personal savings account registered with the Canadian government to help individuals accumulate capital on a tax-deferred basis for their retirement including tax deductions. The objective is to help individuals grow their savings in a tax free environment to secure an income during retirement years.

Who qualifies?

Advantages

There are various types of RRSP including: individual, spousal, group, and pooled RRSP each with its own benefits. Nevertheless, they all share one common advantage, and that is the tax benefits

Tax deductions

Reduce your taxable income with contributions.

Tax deferral

While in RRSP, your investments can grow on this a tax-deferred account

Income Splitting

The higher income-earning spouse can contribute in their spouse's RRSP.

Canadian government programs

Access funds in your RRSP to help buy your first home or pursue further education.

Contribution Limits

There is a contribution limit on RRSPs accounts, also known as a “deduction limit” which is the maximum amount you can contribute in a given year. To find out the exact amount, check on your most recent Notice of Assessment from the CRA.

As a guideline, your allowable RRSP contribution for the current year is the lower of:

18% of your earned income from the previous year
The maximum annual contribution limit for the current tax year
The remaining limit after any company sponsored pension plan contributions

Year	Contribution Limit
2026	$33,810
2025	$32,490
2024	$31,560
2023	$30,780
2022	$29,210

Source: Canada Revenue Agency

Not sure how much to save?

Contact a 3i Financial Advisor today to see how an RRSP can help your retirement planning and reach your retirement goals.

Find Out More

Tags: Old Age, Pension, Tax Advantages

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TFSA

3iwebdev — Thu, 10 Jun 2021 17:22:38 +0000

TFSA

What is a Tax-Free Savings Account (TFSA)?

The Government of Canada introduced the Tax Free Savings Account (TFSA) in 2009 to provide Canadians with a personal savings vehicle, tax free.

Who qualifies?

Canadian residents with a valid Social Insurance Number (SIN) and is 18 years of age or older.

Note: Non-residents may be eligible to open a TFSA account; however, contributions are subject to tax.

Advantages

As an incentive for parents to contribute to their child’s post-secondary education, the federal government offers two funding mechanisms.

Contribution limit

The amount that you can contribute to your TFSA is limited to your contribution room.

The annual TFSA dollar limit for each of the years from 2009 to 2026 are:

Year	Annual Contribution Limit
2024-2026	$7,000
2023	$6,500
2019 to 2022	$6,000
2016 to 2018	$5,500
2015	$10,000
2013 and 2014	$5,500
2009 to 2012	$5,000

Source: Canada Revenue Agency

Contact a 3i Financial Advisor today to develop a plan that ensures you to take advantages of the tax-free savings strategies of a TFSA

Find Out More

Tags: Future Goal

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Benefits Archives - 3i Financial

Investment Products

Investment Products

Why Choose Investment Products?

Investment Fund Products

Group Benefits

Group Benefits

What is Group Benefits?

Group Benefits Products

Living Benefits

Living Benefits

Health & Dental Insurance

Long Term Care Insurance

Critical Illness Insurance

Disability Insurance

Insurance Quote

Insurance Quote

We provide quotes for all your Business, Travel and Individual Insurance needs.

Travel Insurance

Health

Life Insurance

Group Benefits

Life Insurance

Life Insurance

Term Life Insurance

Permanent Life Insurance

Travel Insurance

Travel Insurance

What is Travel Insurance?

Who needs Travel Insurance?

Travelling Canadians

Visitors to Canada

Students

RDSP

RDSP

What is a Registered Disability Savings Plan (RDSP)?

Who is eligible?

Benefits

Tax-sheltered earnings

Get government contributions

Easy access when you need it

Make the most out of your RDSP

Segregated Funds

Segregated Funds

What is Segregated Funds?

IVIC’s (Individual Variable Insurance Contracts)

RRSP

RRSP

What is a A Registered Retirement Savings Plan (RRSP)

Who qualifies?

Advantages

Tax deductions

Tax deferral

Income Splitting

Canadian government programs

Contribution Limits

TFSA

TFSA

What is a Tax-Free Savings Account (TFSA)?

Who qualifies?

Advantages

Contribution limit