Answer Centre

Planning for retirement

Make your retirement a time you can look forward to with a solid financial plan.

Before you plan for retirement, you should figure out what you want to do. Do you want to live at your cottage? Take dream vacations? Garden and read your favourite books? If you plan for your retirement, you can let your dreams drive your plan rather than letting available funds drive your dreams.

No matter how much room you have in your budget, our secure segregated funds will allow you to put away as little as $50 month in an RRSP. Just a little bit now will go a long way later.

Life insurance

Life insurance is a key component of most retirement and estate plans. Just like saving for retirement, we have recommendations for what life insurance you need based on your stage of life.

Critical illness insurance

Your chances of developing a critical illness increase as you get older. Most of our critical illness policies are available until age 65, at which point you can optionally choose a plan that will repay your premium if you don't develop a critical illness. Hopefully, your critical illness insurance gives you a bit of extra money to use in retirement rather than being used for its intended purpose, but with this plan, you’re covered either way.

Retirement income

When the time comes to retire, you can choose various retirement income options, including RRIFs and annuities. Your Financial Advisor can help you sort out exactly what you need to do at this very important time.

Whatever you do and whatever you plan, remember that retirement is a time to take it easy and enjoy the rewards of years of hard work. The Co-operators will be there with you every step of the way to make sure your funds see you into and through retirement safely and with the best advice possible.