SECURE YOUR FUTURE WITH HARPREET RANA
Choose your insurance
Choose your Insurnace Plans with Sherjang Singh Rana – MDRT, A professional providing specialized guidance and advice for investment in various Canadian Insurance Products.
SECURING YOUR CHILD’S FURNITURE
Registered Education Savings plan (RESP)
RESP is an investment vehicle to save for your Child’s post-secondary education. RESP provides access to the Canada Education Savings Grant (CESG) and other benefits.
ENJOY LIFE AFTER RETIREMENT
Registered Retirement Savings Plan (RRSP)
RRSP is a retirement savings plan and an investing option for employees and the self-employed in Canada. Pre-tax money is placed into an RRSP and grows tax-free until withdrawal.
Grow tax-free
Tax Free Savings account (TFSA)
A tax-free savings account (TFSA) is an account in which your contributions, interest earned, dividends, and capital gains are not taxed, and can be withdrawn tax-free. Open on today!
PROVIDING INSURANCE FOR
International Students
Transferring all the financial risk of the International Students coming to Canada. With International Student’s Insurance at just a few dollars per month reward is just priceless.
VISITING CANADA FOR BUSINESS?
Business Visa Insurance
While on a Business Trip to Canada, medical circumstances may arise where unprepared. As you may not be able to prevent such occurrences, its better to be prepared with appropriate coverage.
SECURE YOUR LOVED ONES
Mortgage Insurance
You have finally found that dream home of yours, Mortgage Insurance can help you make it yours. Reduce all the risk factors when you have a mortgage on you, thus securing yourself and your loved ones.
A Registered Education Savings Plan (RESP) is a tax-sheltered plan you can use to save for a child’s secondary education. It lets you enjoy tax-sheltered investment growth, plus you’ll also be eligible for government grants — so it can make a big difference over time!
The biggest benefits of an RESP are tax-sheltered investment growth and government grants. You don’t pay any tax on money your investment earns while it stays in the plan, and when money comes out of an RESP it’s taxed at the beneficiary’s tax rate, which will probably be quite low. The federal government may also top up your annual contribution, up to $500 a year or more, through the Canada Education Savings Grant (CESG). You may also be eligible for the Canada Learning Bond (CLB), and additional provincial grants if you live in Quebec or British Columbia.
A Registered Retirement Savings Plan (RRSP) is a great way to save for retirement. It offers two important tax benefits. Firstly, investment income in your RRSP isn’t taxed while in the plan , so it grows faster than it would otherwise. Secondly, contributions to your RRSP are tax deductible, so contributions can lower your taxable income and your income tax bill.It’s definitely a win-win way to invest for your future!
Sure you can! But depending on your situation you might want to avoid it. If you take money out of your RRSP before you retire, it’ll be subject to withholding tax, and counted as income for you in that year.
- Contributions aren’t tax-deductible.
- Withdrawals are tax-free and don’t reduce your contribution room.
- You don’t need to have earned income to contribute.
- You don’t have to convert your plan to an income payment option such as a registered retirement income fund (RRIF) when you reach age 71.
HAPPY TO HELP!
Get Free Quote
Let me know if there’s anything else I can do for you. I’m happy to help - Sherjang Singh Rana mDRT.
Get Free Insurance Quotes with Sherjang Singh Rana to secure yourself and your loved ones against the odds of life.