Advising Canadian Families
There are 4 key differences to remember when advising Canadian families
Postal Code
Zip Code
Provinces
States
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Do not use American terminology when speaking to Canadians
1.
All Canadians over 65 receive about $2,000 from the Canadian government. This is from Old Age Security (OAS) and Canadian Pension Plan (CPP). This government benefit may be combined with private funds to pay for a community. If they are unable to spend more than the $2,000, they are likely ineligible and will need the Canadian Public pay guide.
2.
401k
Medicaid
Medicare
Social Security
IRA
During financial discovery, ask for the income amount. Canadians will not have the following:
3.
You will not be asking about Long Term Care Insurance OR veteran status. Canadaians in general do not utilize Long Term Care Insurance. Veterans' benefits in Canada do not include financial benefits.
4.
Reach out to your APFM Team if you have any questions or concerns!