Services

Comprehensive Coverage for Your Team Group Benefits offer a range of coverage options, including health, dental, life, and disability insurance, to support employees’ well-being and financial security. These plans provide businesses with an affordable way to care for their workforce while enhancing employee satisfaction and retention. Boost Employee Well-Being and Business Success Group Benefits provide employees with essential coverage options such as health, dental, life, and disability insurance. These plans help ensure the well-being and financial security of your team, while also offering businesses a cost-effective solution to attract and retain top talent, boosting overall employee satisfaction and loyalty. Comprehensive Coverage Group Benefits provide employees with a range of essential insurance options, including health, dental, life, and disability coverage, ensuring full protection for their well-being. Comprehensive Coverage Group Benefits provide employees with a range of essential insurance options, including health, dental, life, and disability coverage, ensuring full protection for their well-being. Cost-Effective Group Benefits are typically more affordable than individual plans, as the costs are shared between the employer and employees, offering greater value for both parties. Cost-Effective Group Benefits are typically more affordable than individual plans, as the costs are shared between the employer and employees, offering greater value for both parties. Employee Retention and Attraction Offering Group Benefits helps businesses attract and retain top talent by providing a desirable compensation package that enhances job satisfaction. Employee Retention and Attraction Offering Group Benefits helps businesses attract and retain top talent by providing a desirable compensation package that enhances job satisfaction. Financial Security Group Benefits protect employees from unexpected medical expenses, providing peace of mind and reducing financial stress for both employees and their families. Financial Security Group Benefits protect employees from unexpected medical expenses, providing peace of mind and reducing financial stress for both employees and their families. Customizable Plans Employers can tailor Group Benefits to meet the specific needs of their workforce, offering flexible options that best suit their team. Customizable Plans Employers can tailor Group Benefits to meet the specific needs of their workforce, offering flexible options that best suit their team. Tax Advantages Group Benefits often come with tax benefits for both employers and employees, making them a financially smart option for everyone involved. Tax Advantages Group Benefits often come with tax benefits for both employers and employees, making them a financially smart option for everyone involved. Maximize Your Investments Maximize your investments with strategies designed to grow your wealth and optimize returns. Our expert guidance helps you make informed decisions, ensuring your portfolio aligns with your financial goals for long-term success. Connect with Taiwo Olatunji

Reach Your Goals with Our Savings Plans Whether you’re saving for a new home, planning an unforgettable trip, or building a reliable retirement income, we offer a variety of tailored financial products to support your goals. From mortgage solutions and travel protection to personalized retirement plans, our services are designed to provide you with the security, flexibility, and growth potential needed to achieve your financial aspirations with confidence. Our Savings Plans Registered Retirement Savings Plan (RRSP) An RRSP can help you save money for your retirement, tax-free. Additionally, contributions to an RRSP lower your taxable annual income, which means that you enjoy tax savings. Registered Retirement Savings Plan (RRSP) An RRSP can help you save money for your retirement, tax-free. Additionally, contributions to an RRSP lower your taxable annual income, which means that you enjoy tax savings. Tax-free Savings Account (TFSA) A TFSA is a savings plan that allows you to grow your savings, tax free. It is the perfect solution for your short-, medium- and long-term savings projects, like paying for a trip, buying a home or creating an emergency fund. Tax-free Savings Account (TFSA) A TFSA is a savings plan that allows you to grow your savings, tax free. It is the perfect solution for your short-, medium- and long-term savings projects, like paying for a trip, buying a home or creating an emergency fund. Tax-Free First Home Savings Account (FHSA) Designed to help future homeowners save for the purchase of their first home, the FHSA combines the advantages of an RRSP and a TFSA, allowing you to deduct contributions from taxable income and generate tax-free returns. Tax-Free First Home Savings Account (FHSA) Designed to help future homeowners save for the purchase of their first home, the FHSA combines the advantages of an RRSP and a TFSA, allowing you to deduct contributions from taxable income and generate tax-free returns. Individual Pension Plan (IPP) An individual pension plan is a defined benefit plan designed for business owners or executives who want to optimize their retirement income. It’s an advantageous option if you want to save more for retirement while reducing your taxes. Individual Pension Plan (IPP) An individual pension plan is a defined benefit plan designed for business owners or executives who want to optimize their retirement income. It’s an advantageous option if you want to save more for retirement while reducing your taxes. Locked-in Retirement Account (LIRA) Are you on the verge of changing jobs and want to know what will happen to the pension plan you have with your current employer? A LIRA allows you to transfer the money saved in a pension plan with a former employer to an individual plan. Locked-in Retirement Account (LIRA) Are you on the verge of changing jobs and want to know what will happen to the pension plan you have with your current employer? A LIRA allows you to transfer the money saved in a pension plan with a former employer to an individual plan. Non-Registered Savings Plan (NRSP) With this flexible savings plan, you can invest even more for your personal projects and retirement when you have reached your RRSP or TFSA contribution ceiling. Non-Registered Savings Plan (NRSP) With this flexible savings plan, you can invest even more for your personal projects and retirement when you have reached your RRSP or TFSA contribution ceiling. Maximize Your Investments Maximize your investments with strategies designed to grow your wealth and optimize returns. Our expert guidance helps you make informed decisions, ensuring your portfolio aligns with your financial goals for long-term success. Connect with Taiwo Olatunji

What is Universal Life Insurance? Universal life insurance is a form of permanent coverage that provides lifelong protection along with a cash value component. Unlike whole life insurance, it offers greater flexibility, allowing policyholders to adjust premium payments and death benefits to suit their changing financial needs. This policy also includes an investment element within the cash value, offering the potential for tax-deferred growth while ensuring financial security for your loved ones. Top Benefits of Universal Life Insurance? Lifetime Protection Secure lifelong coverage, ensuring your loved ones’ financial security irrespective of age or health status. Lifetime Protection Secure lifelong coverage, ensuring your loved ones’ financial security irrespective of age or health status. Tax-Efficient Investing Enjoy tax-free growth on your policy’s cash value, optimizing wealth accumulation over time. Tax-Efficient Investing Enjoy tax-free growth on your policy’s cash value, optimizing wealth accumulation over time. Fund Accessibility Access policy funds throughout your life for retirement income or unforeseen expenses. Fund Accessibility Access policy funds throughout your life for retirement income or unforeseen expenses. Estate Solutions Utilize universal life insurance for efficient estate planning, safeguarding assets for future generations. Estate Solutions Utilize universal life insurance for efficient estate planning, safeguarding assets for future generations. Flexible Plans Customize coverage and premiums tailored to your unique needs. Flexible Plans Customize coverage and premiums tailored to your unique needs. Tax-Free Benefits Provide beneficiaries with tax-free death benefits, offering financial stability during challenging times. Tax-Free Benefits Provide beneficiaries with tax-free death benefits, offering financial stability during challenging times. Diverse Death Benefit Options Choose from various protection levels based on individual requirements and preferences. Diverse Death Benefit Options Choose from various protection levels based on individual requirements and preferences. Versatile Investments Create a personalized investment portfolio with access to different interest options for tailored financial growth. Versatile Investments Create a personalized investment portfolio with access to different interest options for tailored financial growth. Living Benefits Receive additional financial security during life’s uncertainties. Living Benefits Receive additional financial security during life’s uncertainties. Comprehensive Coverage Opt for single or joint coverage options, extending protection to your entire family. Comprehensive Coverage Opt for single or joint coverage options, extending protection to your entire family. Universal life insurance isn’t just about protection—it’s a customizable, long-term financial strategy that adapts with you, ensuring your loved ones’ future and your own financial growth are secure for life. How does universal life insurance function? Universal life insurance delivers the ultimate combination of lifelong protection and financial flexibility. By blending a guaranteed death benefit with a dynamic cash value component, it provides policyholders with powerful tools for both security and wealth accumulation. Premiums are strategically divided—part goes towards securing your insurance coverage, while the rest builds in a cash value account that grows over time, potentially boosting your savings. What sets universal life insurance apart is its unparalleled flexibility. Unlike traditional whole life insurance, it empowers you to adjust premium payments and death benefits as your financial needs evolve. Many policies even allow you to invest the cash value, offering the potential for tax-deferred growth. Get an Insurance Quote to get started! This allows you to compare coverage options, premiums, and policy features tailored to your needs. 01 Universal Life Insurance Universal Life Insurance Universal life insurance is one of the permanent life coverage options that allow lifelong protection with a built-in cash value feature. InsuranceATVHomeAutoCondoRentersBusiness Get a quote now Universal Life Insurance FAQs Can I access funds from my universal life insurance policy's cash value? Yes, policyholders can borrow against the cash value of their universal life insurance policy. However, borrowing may impact the death benefit and incur interest charges. Are universal life insurance premiums adjustable? Indeed, universal life insurance premiums typically offer flexibility, enabling policyholders to modify payment amounts and schedules based on their financial situation. What occurs if I cease paying premiums on my universal life insurance policy? Failure to pay premiums may cause the policy to lapse, resulting in loss of coverage and potential forfeiture of the cash value. Policyholders should consult their insurer to explore alternatives if they are unable to maintain premium payments. As a smoker, can I qualify for universal life insurance? Yes, you can still qualify as a smoker; however, the premium will be higher due to the higher risk caused by tobacco.

Why Choose Permanent Life Insurance? Choosing Permanent Life Insurance guarantees lifelong protection for your loved ones, as coverage never expires. Benefit from fixed premiums, cash value accumulation, and tax-free death benefits, securing your family’s future without worry. Practical Scenarios for Term Life Insurance Term life insurance is particularly beneficial for various life stages and situations: Feature Whole Life Insurance Universal Life Insurance Premium Flexibility Premiums are fixed for the life of the policy. Premiums can be adjusted, within limits. Get an Insurance Quote to get started! This allows you to compare coverage options, premiums, and policy features tailored to your needs. 01 Permanent Life Insurance Permanent Insurance Choosing Permanent Life Insurance guarantees lifelong protection for your loved ones, as coverage never expires. InsuranceATVHomeAutoCondoRentersBusiness Get a quote now Discover the compelling reasons to opt for permanent life insurance: 1. Wealth Accumulation – Benefit from cash value growth, offering a tax-advantaged savings component for future needs, accessible through loans or withdrawals. 2. Lifelong Security – Enjoy uninterrupted coverage throughout your lifetime, unlike term life insurance with finite terms. 3. Tax-Free Protection – Ensure your loved ones receive the death benefit free from tax implications, providing financial stability in challenging times. 4. Stable Premiums – Experience peace of mind with premiums that remain consistent over time, with the potential for guarante

What is Term Insurance? Term life insurance is a fundamental tool for financial security, providing cost-effective coverage tailored to key stages of life. It serves as a financial safeguard, ensuring that your loved ones receive vital support in the event of unexpected situations. Practical Scenarios for Term Life Insurance Term life insurance is particularly beneficial for various life stages and situations: Growing Families Expecting new parents can safeguard their family’s financial future by securing term life insurance coverage. The death benefit can cover living expenses, childcare, and education costs, ensuring continuity in challenging times. Growing Families Expecting new parents can safeguard their family’s financial future by securing term life insurance coverage. The death benefit can cover living expenses, childcare, and education costs, ensuring continuity in challenging times. Homeowners Homeownership often entails significant financial obligations, including mortgage payments. Term life insurance can alleviate the burden on surviving family members by covering mortgage costs and other financial responsibilities. Homeowners Homeownership often entails significant financial obligations, including mortgage payments. Term life insurance can alleviate the burden on surviving family members by covering mortgage costs and other financial responsibilities. Business Owners Business owners can protect their ventures and stakeholders by integrating term life insurance into their financial planning. In the event of the policyholder’s death, the insurance payout can sustain business operations and facilitate seamless transitions. Business Owners Business owners can protect their ventures and stakeholders by integrating term life insurance into their financial planning. In the event of the policyholder’s death, the insurance payout can sustain business operations and facilitate seamless transitions. Pre-Retirees Individuals approaching retirement age can use term life insurance to bolster their savings and provide additional security for loved ones. The death benefit serves as a financial cushion, covering expenses and ensuring a comfortable retirement for surviving family members. Pre-Retirees Individuals approaching retirement age can use term life insurance to bolster their savings and provide additional security for loved ones. The death benefit serves as a financial cushion, covering expenses and ensuring a comfortable retirement for surviving family members. Dual-Income Couples Couples reliant on each other’s income can benefit from term life insurance, safeguarding their financial stability in case of a partner’s untimely death. The insurance payout helps maintain their standard of living and alleviates financial strain during tough times. Dual-Income Couples Couples reliant on each other’s income can benefit from term life insurance, safeguarding their financial stability in case of a partner’s untimely death. The insurance payout helps maintain their standard of living and alleviates financial strain during tough times. Parental Support Adults providing financial support to aging parents can use term life insurance to guarantee ongoing care and support for their parents’ well-being after their passing. Parental Support Adults providing financial support to aging parents can use term life insurance to guarantee ongoing care and support for their parents’ well-being after their passing. Marriage Protection Newlyweds can use term life insurance to protect their spouses financially, ensuring they can maintain their lifestyle and cover expenses in the event of their partner’s death. Marriage Protection Newlyweds can use term life insurance to protect their spouses financially, ensuring they can maintain their lifestyle and cover expenses in the event of their partner’s death. Get an Insurance Quote to get started! This allows you to compare coverage options, premiums, and policy features tailored to your needs. 01 Term Term Insurance Term Insurance Term life insurance is a fundamental tool for financial security, providing cost-effective coverage tailored to key stages of life. InsuranceATVHomeAutoCondoRentersBusiness Get a quote now Are you eager to discover how term life insurance could be the perfect fit for you? Term life insurance offers invaluable financial protection for a specific period. Our team at Thomas C. Chan Financial Services is ready to guide you through the process and assess if it aligns with your needs and goals. Schedule a free consultation today to explore your options further.

What is Whole Life Insurance? Whole life insurance provides lifelong financial protection, ensuring a tax-free death benefit for your beneficiaries. Unlike term life insurance, which only covers a specific period, whole life insurance offers indefinite coverage and the potential to accumulate cash value over time. This cash value can be accessed during your lifetime, offering added financial security and flexibility beyond just the death benefit. How Does Whole Life Insurance Work? In Canada, whole life insurance functions as a contractual agreement between individuals and insurance providers. In exchange for regular premium payments, either monthly or annually, the policy guarantees a predetermined death benefit for beneficiaries. The payout amount is based on the selected coverage level. To obtain whole life insurance in Canada, the individual must be a resident of the country. Additionally, some whole life insurance policies in Canada include a cash value component that grows over time on a tax-advantaged basis, meaning the accumulated growth is not subject to taxes. Policyholders can borrow against this cash value if needed, but there may be tax consequences when borrowing from or surrendering the policy. Lifetime Coverage Enjoy lifelong protection without expiration, ensuring continuous security. Lifetime Coverage Enjoy lifelong protection without expiration, ensuring continuous security. Cash Value Guarantees Access funds for unforeseen expenses or supplement retirement income. Cash Value Guarantees Access funds for unforeseen expenses or supplement retirement income. Dividend Potential Portions of premiums invested, offering potential dividend payouts. Dividend Potential Portions of premiums invested, offering potential dividend payouts. Estate Preservation Safeguard assets and facilitate smooth inheritance for future generations. Estate Preservation Safeguard assets and facilitate smooth inheritance for future generations. Premium Stability Benefit from fixed premiums for consistent financial stability. Premium Stability Benefit from fixed premiums for consistent financial stability. Creditor Shielding Potential protection against creditors, safeguarding cash value and death benefits. Creditor Shielding Potential protection against creditors, safeguarding cash value and death benefits. Flexible Payment Options Choose from diverse premium payment schedules for convenience. Flexible Payment Options Choose from diverse premium payment schedules for convenience. Tax-Advantaged Growth Accumulate cash value tax-deferred, offering potential tax benefits. Tax-Advantaged Growth Accumulate cash value tax-deferred, offering potential tax benefits. Loan Flexibility Secure loans against cash value with favorable terms for various financial needs. Loan Flexibility Secure loans against cash value with favorable terms for various financial needs. Survivor Protection Provide financial security for beneficiaries, covering multiple individuals. Survivor Protection Provide financial security for beneficiaries, covering multiple individuals. What Determines the Cost for Whole Life Insurance? The cost of whole life insurance varies based on several factors, including your age, health, gender, lifestyle, occupation, and the level of coverage you choose. Typically, premiums for whole life insurance are higher than term life due to its lifelong coverage and the added cash value feature. Younger and healthier individuals generally receive lower premiums, while older individuals or those with health issues may face higher rates. The amount of coverage and any optional riders or additional benefits also influence the overall cost. For an accurate estimate tailored to your specific needs, it’s best to consult with one of our advisors. They can provide personalized quotes based on your unique situation and coverage preferences, helping you find the right policy that aligns with your financial goals and budget. Speaking with a licensed insurance advisor ensures you get clear guidance on pricing and benefits. Get an Insurance Quote to get started! This allows you to compare coverage options, premiums, and policy features tailored to your needs. 01 Whole Life Insurance Whole Life Insurance Whole life insurance offers lifelong financial protection, providing beneficiaries with a tax-free death benefit. InsuranceATVHomeAutoCondoRentersBusiness Get a quote now Can I apply for whole life insurance at any age for myself? No. When buying for yourself, you must be 18 years old or older. It’s important to review the terms and conditions of the policy to determine eligibility. How does borrowing from a whole life insurance policy work? If your whole life insurance policy has a cash value component, you may have the option to borrow against it. The amount available for borrowing is determined by the accumulated cash value in your policy. You can typically access this cash through a loan, which may incur interest and reduce the death benefit. We recommend you consult with your insurance advisor to understand the terms and implications of borrowing against your policy. When does cash value start to accumulate in a whole life insurance policy? The timeline for cash value accumulation in a whole life insurance policy varies depending on the specific policy and insurance provider. Generally, cash value begins to accumulate after a certain period, typically after 2-5 years after the policy has been in force. However, it’s essential to review the policy terms to understand when cash value accumulation begins and how it grows over time. Are dividends available with whole life insurance policies? Dividends are not guaranteed with all whole life insurance policies, as they are typically associated with participating policies offered by certain insurance providers. Participating whole life policies may distribute dividends to policyholders based on the insurer’s financial performance and other factors. It’s advisable to inquire with your insurance advisor about the availability of dividends and how they may impact your policy’s performance. Maximize Your Investments Maximize your investments with strategies designed to grow your wealth and optimize returns. Our expert guidance helps you make informed decisions, ensuring your portfolio aligns with your financial goals for long-term success. Connect with Taiwo Olatunji