If the thought of purchasing life insurance overwhelms you, this article will provide you with tips to give you clarity on some of the fundamentals of life insurance planning. Since confusion can lead to missing key information, we will discuss how to avoid five common life insurance misconceptions.
How much Life Insurance do I need?
If you’ve decided that you need life insurance, how do you know how much is enough to protect your family financially in the case of premature death? Continue reading “Life Insurance for Financial Protection”
What is life insurance?
Life insurance helps protect your loved ones financially if you pass away while your policy is in force. You can tailor your life insurance policy to help sustain your dependents’ current lifestyle, housing and education to name a few typical expenses, using a “death benefit” (a lump sum of money). How does this work? When you purchase life insurance from an insurance company, you designate one or more beneficiaries.
Want to make the most of your savings in retirement with your married or common-law spouse? The trick here is not knowing to save, but knowing how to save. Which accounts make sense? Continue reading “Fall in love with these income splitting tips for you and your spouse”
I recently read an in-depth analysis by David Chilton (AKA The Wealthy Barber) looking into a specific question: TFSA vs RRSP? I was inspired to do some in-depth analysis on my own.
Alcohol use varies greatly among individuals as does the impact on health and mortality. In North America, almost 100,000 deaths annually are attributed to alcohol and the cost is in excess of $250 billion*. For this reason, insurance companies have an established guideline for what constitutes a healthy use of alcohol. Insurance underwriters pay close attention when alcohol is consumed in excess of those guidelines and their scrutiny can impact whether one’s insurance application is approved or declined.
Protecting the future financial security of your family and your business.
Life is an adventure full of twists and turns, and learning to navigate it can take a lifetime. Unfortunately, that’s a little too late. That’s why starting a financial plan early is so important. Where to begin though? Read our article on the financial planning hierarchy of needs to learn more.
Starting and running your own business can be both exciting and terrifying. Every day provides opportunities and challenges and you never know what each morning will bring. If you are a business owner and don’t have the right insurance plan in place because you’ve been so busy trying to grow your business, then there’s an opportunity waiting for you right now.
In addition to providing protection and mitigating risks, business insurance can also provide opportunity when it comes to building your business. For example, did you know that a life insurance policy can be used as collateral for a bank loan? It not only protects shareholders, family members, key persons to the business, and the corporation itself, it opens up new doors. Just imagine what you can do.
Take a look at this short video to learn more then reach out to your advisor to see what plan is best for you and your business.
To learn more read our article on How Insurance Provides Security – and Opportunity – for your Business
In May 2017, the Canadian parliament passed the Genetic Non-Discrimination Act (GNA) – formerly known as Bill S-201. This Act, meant to prohibit and prevent discrimination, states that genetic test information can no longer be requested or used in rendering underwriting decisions. How this bill will impact underwriting and product pricing remains to be seen.