Executive Pension Plans: Tax Free?

Why bother risking the wealth you have worked for all your life? Plan wisely, and consider an executive pension plan! There are much better ways for you to save than through a Registered Retirement Savings Plan (RRSP). Save thousands of your corporate taxes this year!

What Can You Do with an Executive Pension Plan?

While there are numerous benefits to having executive pension plans (EPPs), but the most obvious benefit is executive pension plans can dramatically increase your retirement savings, even when compared to an RRSP. Unlike an RRSP where the maximum allowable contribution is limited to the earnings of the individual, an EPP does not have the same limitations. This is especially beneficial to higher income earners where investments will determine how much will be tax-deferred. Contributions made to the pension plan are tax-deductible in Canada, by not only the employee, but deductable by the employer as well!

Are Executive Pension Plans Difficult to Setup?

Before setting up executive pensions, it is commonly recommended that you first consult a certified financial planner, at a brokerage like Ten Star. Consulting with a professional with years experience is advice you can appreciate. Your Ten Star Financial adviser knows that contributions made to the fund allow the participants to make additional contributions as well.

Finding a Financial Planner for Business

When discussing financial options with your adviser, prepare a short list of questions before the meeting. Finding a knowledgeable adviser with experience dealing with the type of financial planning you need, can help you in the long run, so remember to take your time when finding the most appropriate adviser for your needs.

Disability Health Insurance: Coverage for Your Financial Future

Why risk losing your home, cottage, automobile, and retirement savings? Protect yourself and your loved ones with disability health insurance and secure your future financial stability. Getting the right coverage doesn’t have to break the bank!

What is Disability Health Insurance?

If you lose your income as the result of a disability, accident, or sickness, disability health insurance can cover you. Your future income is your greatest asset, and protecting your financial stability with disability health insurance coverage is a step towards freedom. 

Choosing a Disability Health Insurance Broker

When you need to choose disability health insurance broker, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

·         Recommendations: Ask around and see if your friends or family members have spoken with a disability health insurance broker recently

·         Proximity: If you pass by a brokerage near your home, or workplace, they may offer disability health insurance policies. Walking in and asking questions are great first steps with deciding.

·         Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a broker nearest you

Making Sure You Get the Best Disability Health Insurance Rates

When talking about policies with your disability health insurance broker, it is in best practice to prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs.

Commercial Auto Fleet Insurance: Should you be saving money?

If you run a business and are using a vehicle for commercial purposes, like making deliveries or picking up supplies, those vehicles should be rated by your insurance company for commercial use. But how can changing the rating drop your monthly insurance payments?

Commercial Auto Fleet Insurance Ratings

Canadian Insurance companies and brokers like Ten Star Financial Services offer discounts which you may be eligible for, if you have 5 or more commercial rated vehicles. It is very likely that your business already meets the quantity qualification, but are you vehicles known by your insurance company to be commercial? It is important for your vehicles to be rated correctly to ensure that there are no surprises should you have need to file a claim, but also so that you can take advantage of commercial auto fleet insurance and other available discounts.

Finding Commercial Auto Fleet Insurance

When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. It is very important that your insurer completely understands your operations so they can stand behind you at the time of a claim. Be sure to thoroughly review your operations with your broker when requesting a quote to insure you receive adequate coverage. Remember, insurance brokers are there to answer your questions. So be prepared to ask questions, and be prepared to receive answers.

Dental Care Benefits: You too can save!

Citizens across Canada make use of free health care every day in provinces across the country, but this free health care system does not include dental care. Looking for cost cutting measures, many small and medium sized businesses are looking to remove dental care benefits for their employees, but offering this incentive can be more cost effective than before.

What are Dental Care Benefits?

Dental care benefits provide comprehensive dental services and supplies to plan members and their eligible dependants. While policies include coverage for basic services such as dental examinations, x-rays, cleanings, fillings and more – there are alternative policies which also include major dental restoration such as dentures and bridgework, and orthodontic services.

Finding Dental Care Benefits

When you need to find a dental care benefits broker, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

• Recommendations: Ask around and see if your friends or family members have spoken with a dental insurance broker recently
• Proximity: If you pass by a brokerage near your home, or workplace, they may offer dental care insurance policies. Walking in and asking questions are great first steps with deciding.
• Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a broker nearest you

Making Sure You Get the Best Dental Care Insurance Rates

When talking about policies with your dental care insurance broker, it is in best practice to prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs.

Condo Insurance: Why You Need It

Congratulations! You’re looking at buying a condominium, but there are a few things you should about getting condo insurance in Canada. Condominiums are different from houses as the condo corporation’s insurance policy will usually cover the external elements of the building, including its property and structure. The majority of buyers then opt to get insurance solely on the contents of their condos.

What if you decided to do renovations within your unit, which are not done by the corporation? It’s spring time and as renovation season begins, you decide to spruce up you bathroom and kitchen. Owners can opt to include Improvements and Betterments Protection which would compensate you for any upgrades you’ve put into your condo, in addition to what the builder placed initially.

Supplemental condo insurance can also be extended to insure the unit itself, in case the condo corporation’s insurance does not fully cover a loss to your unit. If you take the responsibility to insure your condo unit, apart from basic contents insurance, you can better eliminate the potential risk of not being able to regain any loss due to the your condo corporation’s insufficient coverage, when your neighbours may not be as lucky.
When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. Buying a home is a great step in your life, so take comfort in knowing that you will be covered for those rainy days.

Commercial General Liability Insurance Canada: Stay Protected

Over the course of your day-to-day work, your business operations go full cycle. Unfortunately, your company’s well-being may become at stake in the event of a lawsuit. A lawsuit could devastate a company financially. Even if you win in court and you case is dismissed by the judge, your legal fees could rise to the tens of thousands, or more. Consider how commercial general liability insurance Canada can help cover you!

What does Commercial General Liability Insurance Cover?

If your company becomes involved in a lawsuit by a third-party for bodily injury or property damage which has been caused by your business products or operations, a commercial general liability policy protects your business. By planning ahead and protecting yourself for rainy days while it’s still sunny, you can save your business thousands of dollars and insure the future of your company. Contacting a broker is the first step in determining your liability insurance rates.

Finding Commercial General Liability Insurance Rates

When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. It is very important that your insurer completely understands your operations so they can stand behind you at the time of a claim. Be sure to thoroughly review your operations with your broker when requesting a quote to insure you receive adequate coverage.

Offering Group Health Benefits for Your Employees

When you are small or medium sized business owner, and you want to go a little further for your employees, your first look should be towards offering group health benefits for your employees. Traditional health and dental insurance is not actually “insurance” because employers indirectly pay the health and dental claims. Typically, a life insurance company will charge the difference between the premiums and the claims, but there is a unique program available to Canadians where the administration costs is a percentage of claims and a flat monthly fee per employee, which makes it substantially less money than traditional insurance- and it still offers you great coverage.


Offering group health insurance is a wonderful incentive for keeping your currently employees happy, as well as attracting potential candidates for future positions. With today’s economy, many small and medium sized businesses do not believe they can afford health benefits for their employees because they are only aware of traditional benefit plans. Offering benefits to employees can often be the defining factor for your company when a job candidate is being offered a position as individual health coverage is significantly more expensive for the consumer. Ask your group health broker about Ten Star’s Group Plus and discover how you can offer more, for less.


When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs.