Disclaimer

Most disclaimers are written to be skipped. This one is written to be read, which is why each point appears twice: once in the formal terms that carry the legal effect, and once in ordinary language so the formal version is not the only version you encounter.

Both are meant. Neither replaces the other.

General information only

Formal. The content of this website is provided for general informational and educational purposes only. It does not constitute personalised financial, insurance, investment, tax or legal advice, and it should not be relied upon as such. No content on this site takes account of any individual's objectives, financial situation, or particular needs.

In plain language. Nothing here knows anything about you. Every page is written for a general reader, and the questions that decide whether any of this applies to you, your cash flow, your existing coverage, your marginal tax rate, whether you are incorporated, what registered room you have unused, are facts a website cannot have. A page that appears to answer your situation is answering a situation that resembles yours, which is not the same thing.

No professional relationship

Formal. Reading this website, subscribing to material from it, or attending an initial conversation does not create a professional-client relationship, an advisory relationship, or a duty of care in respect of any reader. No such relationship arises until it is expressly established.

In plain language. Nobody here is your advisor because you read a page. A first conversation does not change that either. That is not a technicality designed to avoid responsibility. It is a statement of when responsibility actually begins, which is when someone has your facts and has agreed to act on them.

Compensation and the absence of neutrality

Formal. The author of this website is a licensed insurance professional who receives commissions from insurers in connection with the sale of insurance products. This website is the educational and marketing arm of an insurance practice. Readers should take account of this interest when evaluating the content.

In plain language. He is paid when a policy is issued. That is disclosed on every page rather than in one place, because it is the single most useful thing to know when weighing anything here. It does not make the material wrong. It does mean you should read it the way you would read anything written by an interested party, and it is the reason this site publishes the arguments against its own subject at the same length as the arguments for.

Regulated activities not undertaken

Formal. The author is not registered with the Canadian Investment Regulatory Organization and does not provide securities advice, investment advice, tax advice or legal advice. Certain titles are protected by statute in Ontario, Quebec and New Brunswick. Those titles are not held and are not used on this website.

In plain language. There are things this practice is licensed to do and things it is not, and the boundary is a licence rather than a preference. Where a question belongs to an accountant or a lawyer, the pages here say so and stop rather than offering an opinion dressed as information.

Insurance is insurance

Formal. Participating whole life insurance is an insurance product regulated under provincial insurance legislation. It is not an investment, not a deposit, and not a security. Its primary purpose is the payment of a death benefit. Cash value accumulation and dividends are features of the contract and depend on policy design, premiums paid, and the performance of the insurer's participating account.

In plain language. Judged as a way to grow money against a market portfolio, this usually compares poorly, and most of the criticism it attracts is what happens when it is sold as something it is not. Judged as permanent coverage that also holds accessible capital, it is a different proposition with its own costs. Which of those two things you are being shown matters more than any number on an illustration.

Guarantees, and what stands behind them

Formal. Guarantees referenced on this website are contractual guarantees of the issuing insurance company and depend on that insurer's financial strength and claims-paying ability. They are not guaranteed by any government. Policyholder protection in Canada is provided by Assuris within its published limits. The Canada Deposit Insurance Corporation covers deposits at member institutions and does not apply to insurance products.

In plain language. The guaranteed values written into a contract are real and they are contractual. They rest on the insurer remaining solvent, which is not the same as a government guarantee on a bank deposit. Assuris exists and its limits are published. Read the limits rather than a summary of them.

Dividends are not guaranteed

Formal. Dividends are not guaranteed. They are declared annually at the sole discretion of the insurer's board of directors based on the performance of the participating account. Past dividend performance does not indicate future dividend results.

In plain language. Some years more, some years less, and nobody can tell you what next year brings. Any illustration you are shown assumes a scale. Scales move. A projection is arithmetic under assumptions and it is not a forecast.

Figures, illustrations and currency

Formal. Figures, contribution limits, tax rates and statutory references on this website are stated as at the date shown on the relevant page and are subject to change. All amounts are in Canadian dollars unless stated otherwise. Illustrations of policy performance depend on stated assumptions and are not projections of actual results.

In plain language. Tax figures change every year and statutes are amended. Every page carries the date it was last reviewed. If that date is old and the figure matters to a decision you are making, verify it at the source rather than here.

Suitability

Formal. The strategies described may not be suitable for all individuals. Suitability depends on personal financial circumstances, cash flow, risk tolerance, time horizon and objectives, which can only be assessed through individual consultation with an appropriately licensed professional.

In plain language. This does not suit everyone and it suits fewer people than are shown it. Anyone whose income is variable enough that a missed year is plausible, anyone who may need the capital within a few years, and anyone with unused registered contribution room is likely to be better served elsewhere. This site says so repeatedly rather than once.

Third parties and external links

Formal. References to insurers, products, organisations or third-party websites are provided for information and do not constitute an endorsement. This website does not control external content and accepts no responsibility for it. Trademarks referred to are the property of their respective owners, and the full trademark and non-affiliation statement appears in the disclosures at the foot of every page.

In plain language. A link is not a recommendation, and naming a company is not an endorsement of it.

Provincial variation

Formal. Insurance licensing, title protection, creditor protection and certain tax consequences vary by province and territory. Content on this website is written for a Canadian audience generally and may not reflect the law of any particular province. Quebec differs from the common law provinces in several respects material to insurance and estate matters.

In plain language. Canada is not one jurisdiction for these purposes, and Quebec in particular differs in ways a national summary would flatten. Verify anything jurisdiction-dependent against your own province.

Errors

Formal. While reasonable care is taken to ensure accuracy, no representation or warranty is given that content is complete, current or free from error. Content may be updated or corrected without notice.

In plain language. Mistakes are possible. If you find one, say so and it will be corrected, with the review date on the page updated so the correction is visible rather than silent.

What to do with all of this

Take it as a description of limits rather than a shield.

The purpose of a disclaimer is usually to transfer risk from a publisher to a reader. The purpose of this one is narrower: to make sure you know what this website is, who wrote it, what they are paid for, and which questions it cannot answer. Those four facts are worth more to you than any single page of content on the site.

If a decision matters, take it to someone who has your facts. That is an accountant, a legal advisor, and a licensed insurance professional working together, and it is described in more detail on the about page.