Bhuvan Sharma - Insurance Advisor

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For me, taking care of your loved ones means protecting their financial future.

That's why I offer a range of life insurance solutions to meet your unique needs. From term life to whole life and everything in between, I’m here to help you find the right coverage for you and your family.

So, what do you think? Is life insurance the ultimate act of love? Let us know in the comments below!

RESP

What is a 'Registered Education Savings Plan - RESP'
A Registered Education Savings Plan (RESP), sponsored by the Canadian government, encourages investing in a child's future post-secondary education. Subscribers to an RESP make contributions that build up tax-free earnings.
You can start putting money aside for your child’s post-secondary education with the help of an RESP. When you use this type of special savings account your money will grow surprisingly fast – especially since Canada Education Savings Grants and the Canada Learning Bond are offered exclusively to RESP contributors. Parents or guardians simply open up an account and anyone can contribute, whether it's mom, dad, neighbor, or a favorite aunt or uncle.
Here are some of the great things about RESP accounts:
i. CESG (Canadian Education Savings Grant)
RESPs can receive extra grants called CESGs from the government based on the amount contributed to the account. CESGs are worth 20% of each dollar you contribute and are basically free money.
ii. Tax-free compounding
All interest payments, dividends and capital gains earned inside an RESP account grow tax-free.
iii. Dedicated savings account
It is a good idea to have separate savings account for a major financial goal like post-secondary education.
iv. Reduce your liabilities when your child is at school
With a fully-funded RESP, there should be little or no financial demands on the parents once the child starts post-secondary education.
v. Reduce student loans for your child
One alternative to parents paying for a large amount of education is for the child to apply for student loans.
vi. Reduce your child's need to work during the school year
Students should be free to work hard in their studies while also participating in sports or social activities.
With the Diploma Registered Education Savings Plan, you have access to:
— The Canada Education Savings Grant, equal to 20% of your first $2,500 in contributions each year, and up to 40% on the first $500
— The Canada Learning Bond — The provincial government grant applicable
— An education bonus of up to 15% of your contributions when your child is ready to start his/her post-secondary education
— A diversified investment offering good growth potential on your capital and protection of your savings
— The flexibility to change the plan’s beneficiary, if necessary

Rule of 72 by Einstein is the first and foremost financial concept that everyone should know . It gives u an approximate Time in which one can expect their principal investment to double at a set rate of return . Follow the Table given below to know how a small change in rate of return create a massive change in your outcome .

Major differences and advantages of different types of Life Insurances .

Very Informative article busting some of the most important MYTHS around Life Insurance ...

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Life Insurance Myths | Term Life Insurance | BMO Learning Center Find out 6 myths Canadians have about term and permanent life insurance and how life insurance can protect you and your family.