Advising Canadian Families

Advising Canadian Families

There are 4 key differences to remember when advising Canadian families

1.

Do not use American terminology when speaking to Canadians

Miles

Kilometers

States

Provinces

Zip Code

Postal Code

2.

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.

3.

During financial discovery, ask for the income amount. Canadians will not have the following:

IRA

Social Security

Medicare

Medicaid

401k

4.

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.

Reach out to your APFM Team if you have any questions or concerns!