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How Canada Life is supporting you during COVID-19. Learn more

The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Learn more

The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Learn more

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Freedom 55 Financial is a division of The Canada Life Assurance Company and the information you requested can be found here.

Solutions Banking products and services are provided by National Bank of Canada, and are offered through certain advisors only. Other bank products and services are provided by National Bank of Canada under its own name, and are provided through other advisors. For further information, ask your advisor.

A loan is an amount of money you borrow from a financial institution and pay back in regular installments over a set time period, with interest.  

Some loans are secured by an asset in case you can’t repay the loan as agreed. These loans often have a lower interest rate than loans with are unsecured.  

Secured personal loans

  • Ideal for your one-time borrowing needs, such as purchasing a vehicle or funding a vacation
  • Competitive fixed or variable interest rates
  • Secured by your Canada Life Mutual Fund or segregated fund policy which means lower interest rate
  • Minimum loan amount is $5,000

Registered retirement savings plan (RRSP) loan*

  • Helps you take advantage of unused RRSP contribution room which may help you reduce your personal income taxes
  • Minimum loan amount $1,000 (no maximum)

Investment loan**

  • Borrowing to invest (also known as leveraging) can help you grow your non-registered investment portfolio and build wealth.
  • However, this tactic can also magnify your investment losses, so it may not suit every investor.
  • Talk with your advisor before you borrow to invest.***

Your advisor can help you manage your savings in an effective way and identify strategies for paying off debt as quickly as possible.

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