Frequently asked questions

An initial consultation is always free and there's no obligation. For most insurance and registered investment products I'm paid by the provider when you take up a plan, so my guidance generally costs you nothing extra.

A bank or single insurer can only offer its own products. As an independent advisor I compare the Canadian insurers I'm contracted with and recommend the best fit for you: more choice and unbiased advice, usually at no extra cost.

I'm licensed in Ontario, British Columbia and Alberta, so I can advise clients living in those three provinces. Most of my clients are in the Greater Toronto Area, and I work in person or remotely by phone and video throughout ON, BC and AB.

Yes. I coordinate your protection and your savings so the whole plan works together, with a single point of contact for everything.

Reach out by phone, WhatsApp, email or the contact form. We'll have a short, free conversation about your goals and I'll outline your options. There's never any pressure to proceed.

I'm a licensed insurance advisor operating under M&C Wealth Partners Inc., with licences in Ontario, British Columbia and Alberta. My licence numbers are listed at the foot of every page, and each province's regulator lets you look an advisor up.

Yes, and it's free. Many people have group coverage through work, a policy from years ago or mortgage insurance from the bank. I'll tell you what it actually covers, where the gaps are, and whether anything is worth changing. Sometimes the answer is to leave it alone.

No. Most clients work with me by phone, video and e-signature, and I meet in person by appointment at my office in Etobicoke when that's easier.

I stay your point of contact. I help with renewals, changes to beneficiaries or coverage, and I'll guide you or your family through the claim paperwork if the time comes.

Your details are used only to advise you and to arrange the coverage or accounts you ask for. I don't sell personal information. The privacy policy explains what is collected and how to ask for it to be deleted.

I work in English, Hindi and Punjabi, which helps many families discuss coverage for parents and grandparents comfortably.

At least $100,000 of emergency medical coverage per person, valid for a full year from the date your parent or grandparent enters Canada, and covering health care, hospitalization and repatriation. It must come from a Canadian insurer or a foreign insurer IRCC accepts. Every plan I quote meets that standard, and many families choose $150,000 or more for older parents.

Yes. Several insurers offer monthly Super Visa plans, and IRCC accepts a policy on a monthly plan as long as the first payment or deposit has been made. It spreads the cost instead of paying the full year up front. My online quote shows which insurers offer monthly payments and what the first and following payments would be.

Most policies refund your premium (minus a small administrative fee) if the application is denied, provided coverage hasn't started. I'll point you to plans with the most favourable refund terms.

Some plans include stable pre-existing conditions; terms vary by age and insurer. This is an important detail to get right, and I'll match you to a policy with suitable coverage.

Provincial plans don't cover visitors, so any emergency is paid out of pocket — and Canadian healthcare is expensive for the uninsured. Visitor insurance protects against those potentially huge bills.

It's best to buy before arrival, but coverage can often be arranged after arrival with a waiting period. I'll explain the options and any conditions.

Some plans cover stable pre-existing conditions depending on age and the insurer. I'll help you choose a policy with the right terms for your guest.

Outside of Super Visa there is no legal minimum, but a hospital stay in Canada can cost thousands of dollars a day for someone uninsured. Most families choose between $50,000 and $150,000, with more for older visitors or longer stays.

Card coverage is often limited in duration and amount, and may exclude pre-existing conditions or older travellers. I'll review what you have and top it up only where needed.

If you take two or more trips a year, a multi-trip annual plan is usually cheaper and more convenient. For one big trip, single-trip is fine. I'll do the math with you.

Many plans cover stable pre-existing conditions subject to a stability period. Getting this right matters — I'll match you to a plan with appropriate terms.

It is worth having. Provincial plans cover emergency care in other provinces only partly and not always the full hospital bill, ambulance or getting home. Out of Canada they pay very little or nothing.

Yes. The Super Visa quote compares one-year plans that meet IRCC's rules, and the visitor quote prices any stay from a few days to a year. Both show every insurer side by side after a quick text confirmation.

No. It's a comparison, not an application. You only move forward if you press Request this plan and then agree the details with Priya on the phone.

A one-time code confirms a real person is asking and protects insurer rate data from automated copying. Your number is used only for your quote and any follow-up you want.

They're estimates from current rates. Health questions on the application decide the final price, and Priya confirms it before anything is purchased.

A common guideline is 7–10× your annual income, plus your mortgage and any debts, plus future costs like children's education. I'll build a quick needs analysis with you so the number reflects your real life, not a rule of thumb.

Neither is universally better. Term gives you the most coverage for the lowest cost during your working years; whole life lasts forever and builds value. Many families use a mix. I'll show you both, costed for your situation.

Often yes. Different insurers assess conditions differently, and there are non-medical options if you'd rather skip the exam. As an independent broker I can place you with the insurer most likely to offer you the best rate.

No. A death benefit paid to a named beneficiary is generally received tax-free and does not go through the estate, so it is not delayed by probate. That is one reason it works well for replacing income or clearing a mortgage.

Only as long as it is the best option available to you. If you bought simplified or guaranteed issue because a condition had not stabilised, reassess once it has — fully underwritten coverage may become available at a substantially lower cost per dollar. Set a reminder for two years out. The one rule that never changes: never cancel existing coverage until the replacement policy is issued and confirmed in force, because approval is not the same as active.

It can cost more per dollar of coverage because the insurer takes on more unknowns. But for many people it's the difference between having protection and having none — and I'll find the most competitive option available to you.

Simplified-issue policies can often be approved in days rather than weeks. Some guaranteed-issue plans are effective almost immediately, subject to the policy terms.

Amounts vary by product and insurer — simplified issue generally offers higher limits than guaranteed issue. I'll show you the options that fit your needs and budget.

Mortgage life insurance is optional and you can decline it. Do not confuse it with mortgage default insurance (CMHC and equivalents), which is mandatory when your down payment is under 20% and protects the lender against your default rather than protecting you.

Generally yes, at any time. But never cancel until a replacement policy has been issued and is in force — approval is not the same as active coverage, and a gap is a genuine exposure. Get the new policy confirmed first.

Then creditor insurance may be the right answer, and I will say so. Its lighter initial questions can make coverage accessible when full underwriting would not. It is also worth exploring simplified-issue policies, which use a short health questionnaire and no exam.

Lenders often offer creditor disability or critical illness coverage alongside life. The same structural points apply — who is paid, whether the benefit declines, and when health is assessed. During your working years, being unable to work is the more probable threat to loan payments than dying.

A critical illness benefit is generally received tax-free and is not treated as income, so it does not normally reduce a disability benefit you are already receiving — the two products respond to different events and can pay at the same time. Because it is a lump sum rather than ongoing income, it also does not usually affect income-tested benefits. Confirm the specifics with your accountant, since treatment can differ where a policy is corporately owned.

Most policies cover cancer, heart attack and stroke as a core, with comprehensive plans adding 20+ conditions. I'll compare the covered-condition lists so you understand exactly what each policy protects.

Critical illness pays a single lump sum on diagnosis; disability insurance replaces ongoing income while you can't work. They solve different problems and work well together.

Some plans include a return-of-premium feature that refunds what you paid if you never make a claim. It costs more up front — I'll show whether it makes sense for you.

Plans typically replace around 60–85% of your income, structured so the benefit is meaningful while keeping you motivated to return to work. The exact amount depends on your earnings and occupation.

Group coverage is a great start but often ends when you leave the job, may be taxable, and can be capped. A personal policy fills the gaps and stays with you. I'll review your group plan first.

Own-occupation pays if you can't do your specific job; any-occupation only pays if you can't do any job. Own-occupation is stronger and matters most for skilled professionals.

If you pay the premiums yourself with after-tax money, benefits from a personal policy are generally tax-free. Benefits from an employer-paid group plan are usually taxable income. That difference changes how much coverage you actually need.

Your limit is 18% of last year's earned income, up to the annual maximum ($33,810 for 2026), minus any pension adjustment, plus unused room carried forward from earlier years. Your most recent CRA Notice of Assessment shows your exact number, and I'll help you read it.

It depends on your income and goals. Higher earners often favour the RRSP for the deduction; the TFSA shines for flexibility and tax-free withdrawals. Most people benefit from using both, and I'll help you balance them.

They're investment funds offered through insurance companies that can guarantee a portion of your principal and pass directly to your beneficiaries, often bypassing probate. They suit clients who want growth with added protection.

Contributions made in the first 60 days of the year can be deducted on the previous year's tax return. You can contribute any time you have room, and you don't have to claim the deduction in the same year if a higher-income year is coming.

You can, and many people do. One point worth knowing: US dividends paid into a TFSA generally face 15% withholding tax at source, and unlike a non-registered account you cannot recover it with a foreign tax credit because there is no Canadian tax to offset. Growth and capital gains are unaffected. For that reason US dividend payers often sit better in an RRSP, while the TFSA suits growth-oriented holdings and Canadian dividends.

The annual limit for 2026 is $7,000. Unused room carries forward, so someone who has been 18 or older and a Canadian resident since 2009 has $109,000 of total room if they have never contributed. Your CRA My Account shows your personal figure, though it can lag behind recent deposits, so we check it together before you contribute.

Excess contributions are taxed 1% per month until withdrawn, so it's worth confirming your room first. I'll help you stay within your limit.

You can hold a wide range of investments — GICs, mutual and segregated funds and more — which is how the TFSA becomes a genuine wealth-building tool rather than a simple savings account.

Nothing is lost. Funds transfer to an RRSP or RRIF on a tax-deferred basis, and that transfer does not require RRSP contribution room, so it does not consume anything you were saving for retirement contributions. You keep the deduction you claimed on the way in. The account does have a time limit — generally 15 years from opening, or the end of the year you turn 71 — so the transfer needs to happen before then.

Generally, you qualify if you haven't owned a home you lived in during the current year or the previous four calendar years. I'll confirm your eligibility before you open the account.

Up to $8,000 a year, to a lifetime maximum of $40,000. If you don't use a year's room you can carry up to $8,000 forward, so the most you can put in during one year is double the annual limit. Room only starts building once the account is open, which is a good reason to open one early even with a small deposit.

Yes — combining both can meaningfully increase your down payment. Coordinating them properly is exactly the kind of planning I help clients with.

Contributing $2,500 per child each year captures the maximum $500 annual grant. If you started late, you can catch up on one prior year's grant at a time. I'll map out a schedule for you.

You have options — including transferring the plan to a sibling, or moving accumulated growth into your RRSP if you have room. Grants are returned to the government, but your contributions remain yours.

Yes. Anyone can open an RESP for a child as long as they have the child's Social Insurance Number. It's a popular way for grandparents to give a lasting gift.

The Canada Education Savings Grant matches 20% of the first $2,500 you contribute each year, which is $500 a year, up to $7,200 per child over the plan's life. Lower-income families may also get extra grant money and the Canada Learning Bond of up to $2,000, which needs no contribution at all.

Anyone, with the written permission of the plan holder. Parents, grandparents, extended family and friends can all contribute, which makes it a practical way to direct gifts toward long-term security rather than giving cash. The $200,000 lifetime contribution limit applies to the beneficiary across all contributors combined, so if several people are contributing, someone needs to track the running total.

Yes — DTC approval is the gateway, and it is where most families stall. Eligibility rests on a marked restriction in daily living activities, the cumulative effect of significant restrictions, or life-sustaining therapy. It covers far more situations than the name suggests, including many cognitive and developmental conditions. If you have been declined, the decision can be appealed with a fuller description of functional impact.

In most provinces, including Ontario, RDSP assets and payments are exempt from disability benefit asset and income tests. This concern stops many families before they start, usually unnecessarily. I will confirm the current position for your province.

If money is withdrawn, grants and bonds paid into the plan during the preceding 10 years may have to be repaid — up to $3 for every $1 withdrawn. This makes the RDSP a long-horizon account that needs its withdrawal timeline planned from the outset rather than treated as accessible savings.