What are GICs used for?
An ideal choice for those looking to invest safely, without risk, while earning a stable return.
GICs are investments designed to protect your money while generating a fixed return. They guarantee both your invested capital and a specified interest rate over a set period.
Our GIC products can help you:
- Save for a major project
- Secure part of your portfolio
- Save for retirement
- Generate retirement income
GICs can be invested in different types of tax regimes, including:
- Registered Retirement Savings Plan (RRSP): Interest earned on the GIC is deferred and not taxed until you make an RRSP withdrawal. This plan reduces your taxable income at the time of deposit.
- Tax-Free Savings Account (TFSA): Interest earned on a TFSA GIC is not taxed, either at the time of investment or at the time of withdrawal, as long as you respect the annual contribution limits.
- Registered Retirement Income Fund (RRIF)
- Life Income Fund (LIF)
- Locked-In Retirement Account (LIRA)
- Non-registered plan
These plans offer various tax benefits depending on your situation. Your choice should align with your financial and tax objectives.
Speak with your advisor today or give us a call.
Why UV Insurance?
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A Mutual Insurance Company You Can Trust
A century-old Quebec-based company, committed to social responsibility and renowned for its exceptional financial strength.
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Excellent, Tailored Protection
A range of flexible, affordable products and services designed to meet all needs, recommended by a network of experienced advisors and accessible through innovative technological tools.
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A Reassuring and Human Approach
A team committed to delivering local, high-quality customer service, guided by empathy and kindness.