Smart Talk About Your Insurance Options

When considering the purchase of insurance, the various available options can be a bit perplexing and stressful. Your advisor’s role is to analyze your particular situation and help you choose the best combination of coverage and payment options. They will also take you through the insurance company’s information gathering and underwriting process so you’ll know what to expect and how long it may take.

Watch this short video to learn about your options and the process of purchasing a policy that’s suited to your specific circumstance.

To create a financial plan for you and your family, contact your advisor today.


Smart Talk About Choosing the Right Insurance

There are many categories and variations of insurance plans. Your advisor’s role is to analyze your particular situation and help you choose the best combination of coverage and payment options. The various available options can be a bit perplexing but to simplify it – there are two main types of insurance: term and permanent. There are pros and cons to both but your advisor can help you make the right decision for your specific situation.

Watch this short video to learn the difference between Term and Permanent life insurance and more about other categories of insurance such as Living Benefits, Critical Illness, Long Term Disability, and Long Term Care.

To discuss which plan and product best meets your needs, contact your advisor today.


Smart Talk About Insurance

Life changes. In fact, change is a part of everyday life – a new career, a growing family, a health challenge, a new business opportunity, and so on. A key ingredient to securing financial success throughout your lifetime is your insurance. It provides financial protection for you and the people you care about. If faced with an unexpected illness, disability, or even death, insurance gives you options to cover your family’s ongoing living expenses and can help you build up a nest egg while it protects and grows the assets you can then pass on to your heirs.

Watch this short video to learn about why insurance is important to have.

To secure your financial well-being, contact your advisor today.


Changes to the Taxation of Exempt Policies – Act now before it’s too late

Legislative changes that affect Canadian life insurance policies take effect January 1, 2017. If you are considering making changes to an existing policy or the purchase of permanent insurance, it’s important for you to take action now in order to take advantage of potential benefits that will no longer be available after 2016.

Level Cost of Insurance (LCOI) life insurance policies issued before 2017 can provide significantly better financial benefits than policies issued when the new rules become effective. Here are three key areas for you to consider:

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How your Life Insurance can Help your Favourite Charity

The gifting of life insurance to registered charities has always been a popular method for individuals to fulfill their philanthropic goals, and worth considering when it comes to a charity that is near and dear to your heart.

There are basically two options when donating life insurance to a charity: donate a policy while one is alive or make the registered charity a beneficiary of the policy. The option selected will depend on many factors.

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What to Expect When you Apply for Insurance

Prepare for the future. Live in the moment. You hear this advice all the time and wonder which makes more sense. Well, the answer to that is easy – if you prepare for the future, it makes living in the moment a lot easier to do.

Applying for life insurance is an important task that can help you plan for the future but it can be a little overwhelming. There are difficult decisions, questions, paperwork, interviews, and medical tests. So where do you start and how can you ensure the process goes smoothly?

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Where there’s a will, it will be your way

Did you know that over 50% of Canadians do not have a will?*  While some don’t know how to get started, others believe they can’t afford it.

Are you part of the 50% who don’t have a will? Having a will is an important part of your estate plan. Without a will, your assets would be distributed as per provincial intestate legislation. This process takes time, can increase costs, and will probably not match your wishes for your estate. If you have assets and want to give direction for the distribution of assets upon death, you need a will.

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Sharing Your Wealth with the Next Generation

Planning for the transition of wealth to your children and grandchildren doesn’t have to be a daunting task. It’s important to start discussing this now so you can understand the impact of tax on your estate assets and what steps you can take to plan for the future.

Let’s consider some of the tax implications. Upon death, a person is deemed to dispose of all their assets at fair market value which can result in tax (excludes your principle residence). However, there is an exception for assets rolled to a spouse. Assets that pass through the estate before being distributed to your beneficiaries are subject to probate fees. As well, there could be will challenges and known or unknown creditors that could reduce the assets and impact of your estate goal.

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Getting ahead of tax changes that will impact your life insurance

New rules beginning in 2017 will affect the taxation of Canadian life insurance policies. If you are considering changes to an existing policy or the purchase of permanent insurance for yourself, your family, and particularly for your business, it’s important to consider the potential benefits of taking action during 2016 in order to meet your long term planning goals.

Watch this short video to learn about what’s changing, what’s not changing, and what you should consider doing this year.

To ensure you have the right coverage in place before the year ends, consult your advisor.