walleyejigger....Do you have any chance of going bankrupt in your life time? Do you operate your own business, are you open to lawsuit, frivilous or otherwise. drive a boat without sufficient insurance coverage, build flying machines, have people land in your yard that could crash/die and have spouse/family sue your ass...etc ..etc.. or any scenario that sees you sued for more than your insurance company is going to cover you for?
Any RSP you've worked hard to build up that is held with a bank/trust company etc is gone in the above scenarios.....RSP's with a life insurance company with a named beneficiary can not be touched by any of the above...because it's not your money..it's assigned to someone else already, you just haven't died yet.
A very important feature to consider, especially if you're starting out fresh in a new business venture like a few members here have expressed a desire to do here in the last while. A bank loan that can't be repaid due to business collapse could very well see your RSP's being siezed for the outstanding payment...especially if you're in the same bank for both!