How a young family can make the best use of an insurance payout

Author: ExTeRNaL AuThoR | May 20, 2020 | Categories: Auto Insurance , Business Insurance , Corporate Tax Saving Plan , Critical Illness Insurance , Disability Insurance , Home Insurance , Insurance Services , Life Insurance , Non-Medical Life Insurance , Registered Education Savings Plan , Term Insurance , Travel Insurance , Universal Life Insurance

Katie and Tom just received a tax-free, lump-sum insurance payout. They'd like some advice on how their young family should prioritize RRSPs, TFSAs, RESPs and the purchase of a new vehicle.

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Original Article Source Credits: money sense, https://www.moneysense.ca/

Article Written By HEATHER FRANKLIN

Original Article Posted on : MARCH 26, 2020

Link to Original Article: https://www.moneysense.ca/columns/ask-a-planner/how-a-young-family-can-make-the-best-use-of-an-insurance-payout/