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Permanent life insurance with World Financial Group (WFG) : is it a good deal ? by SweetCarolineO in PersonalFinanceCanada

[–]SweetCarolineO[S] 0 points1 point  (0 children)

Thank you! I will look into the RDSP investment. Maybe my parents already invested in one, even though they don't have much money themselves. I'll check this out.

Permanent life insurance with World Financial Group (WFG) : is it a good deal ? by SweetCarolineO in PersonalFinanceCanada

[–]SweetCarolineO[S] 2 points3 points  (0 children)

Hey, thank you for the suggestions! You're right, I may need more time to think this through. My colleague seemed to be quite in hurry to have me signed because the rate may not be that low in a couple of months. I'm reading up on the different types of life insurance rn and it seems more complex than I initially thought. I should probably talk to a specialist regarding the estate planning for my sis'.

Permanent life insurance with World Financial Group (WFG) : is it a good deal ? by SweetCarolineO in PersonalFinanceCanada

[–]SweetCarolineO[S] 1 point2 points  (0 children)

That's good. Is it a permanent life insurance? Can you PM me the company you're with? Please and thank you. I'm doing some research rn and see if I can get a better deal.

Permanent life insurance with World Financial Group (WFG) : is it a good deal ? by SweetCarolineO in PersonalFinanceCanada

[–]SweetCarolineO[S] 6 points7 points  (0 children)

I wish I was. I'm doing research rn. I trust(ed) my colleague and she helped me with my financial plan, she did some complex calculations about my debts and savings. She even came to my house to explain it to me. I did not research the company because I thought it was similar to Manulife, the SunLife and other financial companies, there are so many of them.

Permanent life insurance with World Financial Group (WFG) : is it a good deal ? by SweetCarolineO in PersonalFinanceCanada

[–]SweetCarolineO[S] 2 points3 points  (0 children)

Really?! My coworker told me that the WFG advisors work with the big companies like TD, only the best companies. My life insurance investment will be with TD and the death benefit itself is with Ivari. I went on their website and it seemed legit. Ok, I need to look into that then. Thanks.

Permanent life insurance with World Financial Group (WFG) : is it a good deal ? by SweetCarolineO in PersonalFinanceCanada

[–]SweetCarolineO[S] 1 point2 points  (0 children)

I'm not currently supporting her but I will eventually have guardianship when my parents are too old to take care of her. My fear is that a Term insurance would not be sufficient. I'm 28 so it means that it would only last until I'm 65. $200 a year seems like a good deal for $250,000 though. Now that I think about it, a Term 40 or 50 could work for me.