Registered Education Savings Plan (RESP)


Registered Education Savings Plan (RESP)

Since our childhood, we have heard the word Insurance tossed around in medical offices or hearing other people discuss vehicles. By the time we turn into the adult we come to know that insurance means protection and safety. It is right that insurance is a measure of safety and provides us a form of protection from something that goes wrong or something is most necessary in our life. Whether it is a damaged vehicle, broken leg, flooded house or costly education, it is necessary to have a cover in the form of insurance or else unnecessary cost can boost rapidly.


In today’s knowledge-based world, getting a post-secondary/higher education has become more important than ever for you if you are a student or for your children/grandchildren if you are parents. But for many students, it is difficult to meet their increasing tuition cost and other educational related expenses without their family support. To cope with this, it is necessary for parents to give their children a guaranteed future despite their financial condition. In order to support the students for their education and to help families save for their children’s post-secondary education, the government of Canada introduced the Registered Education Saving Plan (RESP) back in 1972. Since then RESP has grown considerably and has become the main vehicle for saving for education with great advantages in paying taxes.


What is RESP:

Registered Education Saving Plan (RESP) is an account, a vehicle available to the Canadian parents/grandparents to save for the post-secondary education of their children whether it is an apprenticeship, trade school, or university. There are countless ways to invest in RESP funds and if utilized on higher education of a child or education-related expense, the money grows in the account will be tax-free.


There are many Advantages of RESP:


Money Grows Tax-Free Until Withdrawn:

A unique advantage of this fund is that the government of Canada gives you free funds for your child higher education by contributing 20% up to a maximum of CAD $7200 in this fund for each child. The money is subject to tax only when it is withdrawn to pay out to the beneficiary, in most cases your child, to pay his educational related expenses which can include tuition, housing, books, or living expense.


Investing Your Money:

Your funds in RESP account can be invested in countless ways in any manner of instruments i.e. mutual funds, ETFs, GICs, stocks, bonds. Some RESP plans allow you to decide how to invest your money. Others invest money for you.


Friends and Family can Contribute:

It doesn’t matter who opens the account. It could be parents, grandparent, uncles, aunts, and even friends can open RESP and contribute to it as long as he’s got access to a child’s Social Insurance Number.


Choosing RESP Provider:

RESP account can be open at a bank, a mutual fund company, an investment dealer or a group plan dealer, and certified financial planners in Ontario. Before you decide to open the RESP account for your children, it is very important to choose the right type of RESP plan in Ontario. Your RESP provider in Ontario will help you choose the best RESP plan in Ontario that best suits your need as there are following different types of RESP plans:


  • Individual Plan
  • Family Plan
  • Group Plan


With several many options to choose from, make sure to take the time and carefully choose the best RESP provider in Ontario who will help you choose a right RESP plan in Ontario as per your requirement, advise you on making investment and administer it.

FirstChoice Global Financial is the best choice to get RESP plan in Ontario for your children for his higher/post-secondary education to secure their future.


For any queries or concern
Click or Call Almas at 416 822 9709

Group Insurance Benefits

group benetifs

Group Insurance Benefits

Good Canadian organizations take care of their employee’s health by offering Group health insurance as part of their benefits package to make them stay healthy. When costly medications, preventive screenings, and other expensive treatments are affordable, your employees remain healthy and do a better performance. It is one of the best ways to attract more qualified and top-notch employees as compared to those who don’t.


Group Insurance has many advantages as compared to individual insurance for both the employer who offers the insurance and the employee who gets it. There are the number of reasons that prove it to be a wise decision and a good business sense of employers to offer group benefits to their employees and their families.


An attraction for Employees:

Qualified and top-notch employees are attracted to the employers offering more benefits and perks in Canada. If you offer fewer benefits than to your competitors, your competitors are most likely to score the best qualified and eligible new hires.



Group insurance has many advantages for employers and employees. For employers, it is a good way for keeping operating costs low because group health insurance provides health security to the employee and his family at a minimal cost, so employees are generally apt to join the position at a lower salary. For the employees, it is easily affordable to have expensive treatments and medications for himself and his family which are not covered under the Canadian public health plan, after being covered with the employer-sponsored health insurance coverage, which otherwise would be costly for him.


Tax Advantages:

The advantages of group health insurance are equally available to the employee and the employer as well in the form of tax credit. Small businesses offing group insurance can deduct their contribution they make towards their employee insurance plan by showing it as a business expense and get the tax benefit.


Happy Employees and Improved Productivity:

Happy and healthy employees work better and harder for the company that results in a positive work environment and improved productivity. A happier and healthier workforce is a better and more productive workforce than those in poor health. It is that plain and simple. When an employer cares employees and offer them insurance coverage they may get:

  • Employees who are thankful and appreciate their employer.
  • Employees who care about their employer.
  • Employees who are willing & passionate to build their career at that organization.
  • Employees who feel valued, important and appreciated.
  • Employees who are sincere to make the company a better workplace.


All these things are crucial to make a better workplace and group insurance benefits play a significant role in this regard. It can go a long way toward making sure that both employees and the employer feel better about their working relationship.


Group Benefit Insurance Advisor:

The Group benefit insurance company in Toronto or any other region in Canada, you are dealing with should be licensed and registered insurance agent. Make sure that the best group benefits insurance agency in Toronto is reliable, experienced, have properly trained professionals and the resources to provide you with the best insurance services in Toronto your need.


A good group benefits insurance agency in Toronto is the one who takes the hassle out of the insurance process and provides you with the best choice for your needs and also provides insurance plan comparisons to help you evaluate your options.

group benetifs

For any queries or concern
Click or Call Almas at 416 822 9709

Protect & Secure Stay in Canada

Travel Insurance

Protect & Secure Stay in Canada

Traveling to a foreign country can expose you to untold nightmares. Any unexpected situation like suffering illnesses due to a new climate, loss of baggage or having visa processing issues can take away your peace of mind. Travel insurance/super visa insurance can help you avoid such stresses as it provides you with the protection from such issues while traveling abroad.


If you are planning to visit Canada, there is no reason not to purchase travel insurance. When you buy travel insurance you will be covered not only for health insurance but also have the following:


Peace of Mind:

There is nothing better and no substitute for peace of mind when you know you are covered if your trip doesn’t go according to the plan.


Financial Protection:

You are protected from costly out of country medical bills if any medical emergency arises during your trip.


Cancellation Coverage:

Travel insurance ensures coverage of your investment in case of any trip interruption or trip cancellation which may be caused by any reason such as natural disaster, bad weather, a death in the family, a job loss or your airline goes out of business while you are traveling.


Protection for your baggage:

You are protected if your baggage gets lost, stolen or damaged during your trip.



There is a misconception for Canadian travelers that they need travel insurance only if they are traveling outside of Canada. However, it is not true. You should get travel insurance even if you are traveling outside of your home province. Many visitor/super visa insurance companies in Toronto, and other regions of Canada offer visit/super visa insurance to provide cover to the travelers visiting Canada or traveling outside from Canada or their home province.


Super Visa Insurance:

Parents and grandparents of Canadian citizens and permanent residents visit them frequently or for longer period of time under the Super Visa Program which requires them to have super visa health insurance. Super Visa health insurance is also called Travel/Visitor Insurance for the super visa, designed to protect the holder of a super visa residing in Canada or traveling to another county, from any costly medical emergency treatment or accidental injury.

Visitor / Super Visa insurance agents and advisor in Toronto, Canada offers all types of insurances including Travel Insurance / Super Visa insurance customized to your needs to ensure that you remain secure during your trip.


Super Visa Insurance Requirement:

In order to be eligible for obtaining the Super Visa, it is essential for an applicant to purchase private medical insurance from a Canadian insurance company that:

  • Is Valid for at least one year at the moment your application is submitted to IRCC.
  • Covers emergency health care, hospitalization, and repatriation.
  • Provides minimum coverage of $100,000 from a Canadian insurance provider for at least 1 year.
  • Is valid for each entry to Canada and available for review Point of Entry (POE) officer.
  • Proves that the applicant is a parent or grandparent of a Canadian citizen or permanent resident.


Visitor/Travel Insurance Comparator:

Different insurers offer several different types of insurance. The experienced travel insurance comparator has a responsibility to help you analyze different conditions offered by different insurers as per your specific needs and requirements and choose the one that best suits you. The professional Travel/Super Visa insurance comparator at FirstChoice Global Travel insurance agency in Toronto, Canada provides topnotch cover and advises you on the best insurance cover as well to you and your loved ones, to make Canada your second home, a home away from home.

Travel Insurance

For any queries or concern
Click or Call Almas at 416 822 9709

Life Insurance

best life insurance in toronto

Life Insurance

Everyone wants to have a happy and prosperous life for himself and especially for his family. But no one knows what the future holds. No one can guarantee to live longer to give prosper and happy life to his family and children.  Many of us ignore this bitter reality that our life could come to an end prematurely any time without warning.  What would happen if you are the sole breadwinner and you were to pass away suddenly without protecting your family? The results could be disastrous for the surviving family members to deal with the large bills, pay household expenses, or even worse, loss of the family home for no longer covering the mortgage.

Your wise decision to secure the financial future of your loved ones is to buy a best life insurance in toronto. About 22 million Canadians owned life insurance policies in 2019 as per industry figures. Still, most Canadians don’t have enough life insurance. Life insurance policy is a shelter for your family to protect them financially and to maintain their standard of living if you are no longer with them. The benefits of life insurance in your lifetime should not be overlooked especially if you are young.


Financial protection of your family:

The most important benefit of life insurance is that in your lifetime your family is dependent on you and you don’t want to let them down even if you are gone. Whether it is paying for your children’s education, dealing with large utility or credit card bills, home loan, auto loan, personal loan or providing financial surety to your spouse needed by her, life insurance plays an instrumental role to take care of all and to protect surviving dependents.


Your retirement & long-term goals:

Some life insurance coverage  helps you to achieve your long term goals and objectives such as buying your dream home or a source of income when you are retired.

In order to achieve your long-term goals, FirstChoice Global Financial the best financial & Life insurance advisors in Toronto, is at your disposal. The experienced professionals at FC Global are concerned to provide you the best possible services.


You may not qualify in older age:

If you are young, you may avail the maximum benefits of Life insurance as it runs on uncertainties. You are young and healthy now; saving a little money and paying a premium to life insurance may seem to be an additional financial burden but not difficult at a young age. But what if you fall ill suddenly or diagnosed with a life-threatening disease? You may not be qualified to buy a life insurance policy. Therefore, it is wise to buy a life insurance plan now at a younger age because it will remain in force if your health deteriorates later on.

There are several types of Life Insurance in Canada:

  • Term Life Insurance
  • Universal Life Insurance
  • Whole Life Insurance
  • Non-Medical Life Insurance

You can rely on First Choice Global Financial’s team who can help and advise you in taking decision to buy a life insurance coverage. Life insurance is unique like your family. Every family is not the same, so why should your life insurance be? Therefore, the experienced life insurance agents at First Choice Global take the hassle out of the process and provide you with the best choices for the need of you and your family.

best life insurance in toronto

For any queries or concern
Click or Call Almas at 416 822 9709

Travel Insurance and Pre-Existing Medical Health Conditions

Travel Insurance in Toronto

Travel Insurance and Pre-Existing Medical Health Conditions

Are you planning to travel to enjoy your holidays or for any reason? You will definitely want your travel fun and relaxing. But if you don’t have travel insurance and medical cover, your trip could turn into a nightmare. Any medical emergency, illness, or sudden cancellation/interruption of your travel plan can put you in stress. It is where First Choice Global Financial can come to help you by covering your medical needs.

But what if you have a pre-existing medical condition? Are you able to buy travel insurance if you have a medical condition? Yes, you can still have travel insurance if you have a pre-existing medical condition. (Conditions apply).


What is pre-existing medical conditions:

Any disease, illness, injury or a medical condition diagnosed before you purchase medical insurance is considered to be a pre-existing medical condition. It includes all recurrent or chronic ailments. For travel insurance, this may include any illness, disease or injury that is treated before your departure date. The definition of the pre-existing medical conditions varies for every travel insurance company. So talk to First Choice’s team before you take any insurance policy.


How pre-existing medical condition affects my travel insurance:

You can still get travel insurance if you have pre-existing medical conditions. You may have medical coverage as long as your condition is considered to be stable. Here it is important to define a stable condition. A stable condition is one where:

  • Your condition is not worsened or you have not experienced new symptoms relating to your pre-existing condition.
  • You have not had new medical treatment pertaining to your condition.
  • Your medication dosages are stable without any increase or decrease.

Insurance coverage with pre existing medical condition is not guaranteed. So make sure you have spoken to a agent for further clarification.


Documents for pre-existing medical condition:

You may require you to fill out a medical questionnaire form in case of pre-existing medical conditions if you are age 55 or over. It is important to mention that you must answer the questionnaire honestly.

Travel Insurance in Toronto

For any queries or concern
Click or Call Almas at 416 822 9709