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Life, Critical Illness
Buying Home and Auto insurance are mandatory expenses, and rates keep increasing, forcing you to go rate shopping year over year. And if you file a claim? Now your rates really go up.Â
But, protecting our loved ones from financial hardship and your own ability to earn an income in the event of a personal issue is not mandatory? Some products can cost considerably less than your car insurance, and once locked in the rate is guaranteed for the duration of the contract (all the way to your entire life).
You can't stop paying over $100/mo to protect a car, but that same amount of money can get you treatment with the best specialists on earth, or pay you an income while you can't work, or give your family enough to stay in their home if you weren't there any longer.
Life insurance, including wealth and estate planning
Life insurance, including wealth and estate planning
Life insurance is more a want than a need for many. The advantage of life insurance is that it selflessly ensures financial well being of those you leave behind, whether at the end of a long life or due to an unforeseen passing.
Different valuable options for life insurance include:
-Term insurance > providing benefit at a time when the need for income replacement is temporary
-Permanent > offering death benefit no matter how long you live, and can also provide tax efficient investment opportunities that can play a part of the overall financial plan.
-Participating Life Insurance > also permanent in nature, the cash value is a tied-in component that is designed to grow the death benefit as dividends are paid into policies.
Critical Illness insurance for families, individuals, key business partners, etc
Critical Illness insurance for families, individuals, key business partners, etc
Critical Illness insurance is a benefit for you and your loved one: It can 100% protect you in the event of a life-threatening ailment, including cancer, heart attack, stroke and several other conditions by providing you access to the best specialists in the world as well as having the money to get the best treatments available (even the ones that are not covered by our health care system... or just aren't available in Canada at all!).
The other important aspect of CI is the ability to think about your loved ones (and yourself!). Family can take time away from work without suffering financially for taking time to be with you.
While it's never good to have to go through a life threatening illness, with more and more people surviving as medicine continues to advance, crossing something amazing off your bucket list so celebrate your life can bring the spark back to life.
Critical Illness insurance is also a major component in protecting your business by having the funds available for you to hire a temporary replacement to take care of things while you focus on your recovery. It can even be structured as part of a partner buy-out or maintaining equality in a partnership when you need to focus on your health.
Disability Income insurance is money when you can't work for it
Disability Income insurance is money when you can't work for it
Having a disability that keeps you away from your work can feel debilitating. The last thing you need to worry about when things are bad is to wonder how you can pay the bills.
Disability Income insurance will pay you for as long as you are physically or mentally unable to return to work. Plans can even offer an "easing-in" benefit that lets you slowly get back to full time work while still paying you. In the event of a prolonged disability, plans can also offer a growing benefit to combat inflation.
Business partners can add this benefit to their exit strategies to ensure that prolonged disabilities don't force one partner to carry the other partner, while offering the value owed when things don't work out they way it was once envisioned.
Other coverages to consider
Other coverages to consider
Group insurance - Benefits for your company, from drug & massage to retirement at ultra low management fees.
Personal Health/Dental Insurance - When you don't have coverage through work, and need coverage.
Travel Insurance - When travelling abroad, customized coverage to keep you protected if a health issue occurs.
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