I offer both Guaranteed Interest Certificates (GIC's) typically issued banks and trust companies and Guaranteed Interest Annuities (GIA's) issued by insurance companies. They are similiar but GIA's offer additional benefits that banks and trust companies can't match.
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Note: There is no one "cookie cutter" plan or product solution. The process involves understanding your overall objectives, determining your needs and then based on your individual situation, deciding how your resources should be allocated. Please note that product features differ between companies, so if your financial or retirement planner cannot access them for you, checking around would be prudent.
If you would like to contact me directly If you would like to contact me directly with a question or for a no obligation second opinion my contact information is below.
1. In certain circumstances, you can protect your GIA policy from unforeseen bankruptcy by designating a preferred class beneficiary. Since there are some circumstances where creditor protection may not apply, it is recommended that you consult a legal advisor to find out if you are eligible for this protection 2. Insurance deposits are backed by Assuris while Bank GICs are backed by Canada Deposit Insurance Corporation (CDIC). Credit Unions GICs protection on varies by province for example the Nova Scotia Credit Union Deposit Insurance Corporation (CUDIC), More details on their websites.
Paul is a Certified Financial Planner (CFP) licensed by the Financial Planners Standards Council; Financial and Estate Plans are provided under that license.
The information contained in this website is intended to provide general guidelines only. The application and impact of the law can vary widely from case to case based on the specific or unique facts involved. Accordingly, the information in this article is not intended to serve as legal, accounting or tax advice. Users are encouraged to consult with their professional advisers for advice concerning specific matters before making a decision.
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J. Paul Wilson,CFP®, ChFC®
Certified Financial Planner
27 Blue Thistle Road Halifax, Nova Scotia, B3S 1M3