Bonnie Provencal - Financial Education for Families

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Westlock, AB
Bonnie Provencal - Financial Education for Families

Striving to assist Canadian families become Properly Protected, Debt Free and Financially Independent. Located in Westlock, Alberta we serve all of Canada.
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12/21/2025

Merry Christmas from our office to yours!!

Photos from the Westlock Christmas Party!

The good news is we are much better at Financial Services than we are painting!!!

09/05/2025

Saving for your Child's Future is on every parent's mind!! But NOT ALL VEHICLES ARE CREATED EQUAL! ... If you are thinking about purchasing Life Insurance as a way to save for your child's future MAKE SURE YOU KNOW WHAT YOU ARE PUTTING YOUR $$!

🔑 Considerations When Buying a Universal Life Policy for Education Purposes

1. Purpose & Suitability
UL policies are designed primarily for life insurance + long-term wealth accumulation, not as dedicated education savings tools.

Alternatives like RESPs (in Canada) or 529 Plans (in the US) are often more efficient for education-specific savings because of tax advantages and government grants.

2. Cost & Affordability
Premiums can be higher than other savings vehicles. You must commit to consistent funding over many years to make the cash value meaningful by the time education expenses arrive.

If premiums are stopped early, the policy may underperform or lapse.

3. Cash Value Growth
The savings (cash value) portion grows tax-deferred, But growth depends on policy structure (fixed interest, index-linked, or variable sub-accounts). Returns are usually lower than aggressive investments but more stable than pure equities.

However, Fees, insurance charges, and administrative costs reduce net returns, especially in the early years.

4. Access to Funds
To pay for education, you’ll need to withdraw or borrow from the cash value.
Withdrawals may reduce the death benefit.

Policy loans are generally tax-free if the policy stays in force, but they accrue interest and reduce the payout if not repaid.

Timing matters — if you need funds in 10–18 years, check the policy’s projected cash value at that point.

09/04/2025

There are so secret sauces or Magic Wands!! You just have to do it!!

09/03/2025

Listen, I am with you... Making a budget can be super lame, and at times even be dis-empowering... but avoiding this important step can lead to disaster down the road! ... With a fresh new school routine setting in, it's a great time to review your finances, and set new goals!!

Take charge and tell your money where to go... instead of asking later on "Where did all the money go!?"

05/26/2025

WE ARE EXPANDING!! I’m Super excited about the new office view!!

Same great service now offered out of two convenient offices so we can service more people!

We have been helping families become

-Properly Protected

- Debt Free

- Financially Independentnt

*In Canada Since 1986 🇨🇦

Address

10011 106th Street
Westlock, AB

Website

https://www.primerica.com/bonnieprovencal

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