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Is it Time for Your Insurance Audit?

August 1, 2022blog, Insurance, Life Insurance

Has it been awhile since you last looked at your insurance portfolio?

Are you a little vague in your recollection of all the coverage you have and why you have it?

Are you uncertain as to whether or not your portfolio reflects your current situation?

Just like going to the dentist for regular checkups is a necessary evil, reviewing your financial plan and products on a regular basis is also recommended. Circumstances can change over time and making sure your protection is keeping pace is a worthwhile exercise.

Estate Planning for Blended Families

July 6, 2022blog, Estate Planning, Family

In today’s family, it is not unusual for spouses to enter a marriage with children from previous relationships. Parents work hard at getting these children to functionally blend together to create a happy family environment. Often overlooked is what happens on the death of one of the parents. In most cases, special consideration for estate planning is needed to avoid relationship loss and possibly legal action.

Typically spouses leave everything to each other and when the surviving spouse dies, the remainder is divided amongst the children. The problem? Even with the best of intentions, there is no guarantee that the surviving spouse will not remarry and inadvertently disinherit the deceased’s children.

A Lifetime Gift for Your Grandchildren The Cascading Life Insurance Strategy

June 1, 2022blog

If you are a grandparent wishing to provide an asset for your grandchildren without compromising your own financial security, you may want to consider an estate planning application known as Cascading Life Insurance.

1 in 3 Canadians Will Become Disabled Before the Age of 65

May 2, 2022blog, disability, Disability Insurance

Having a source to replace your earned income in the event of an illness or accident is vital considering that on average, 1 in 3 Canadians will become disabled for a period of more than 90 days at least once before the age of 65. For those that are disabled for more than 90 days the average length of that disability is 2.9 years.

If you are one of the approximately 10 million Canadians covered under a group Long Term Disability plan (LTD) it’s important to understand what your coverage provides. Don’t wait until after you’re disabled to read the employee handbook because you could have a few surprises!

Get Your Corporate Dollars Doing Double Duty

April 1, 2022blog, Business Owners, corporate

Owners of very successful private corporations are well aware of the importance of cash flow. Many are protective of how they allocate corporate capital so that business ventures are adequately funded and investment opportunities are not missed.

The Immediate Financing Arrangement offers an opportunity to provide life insurance coverage and accumulate wealth on a tax-advantaged basis without impairing corporate cash flow.

Why you should buy mortgage insurance through your life insurance advisor

March 1, 2022blog, Insurance

Mortgage life insurance from the major banks can be significantly more expensive when compared to life insurance from an insurance advisor. As well, there are additional advantages to buying life insurance through your advisor including the ability to choose your beneficiary, flexibility and more. See our infographic to learn more about the differences between mortgage life insurance through the bank versus your insurance advisor!

Having Your Cake and Eating it Too

February 1, 2022blog, Estate Planning, financial planning, Investment

Investing in an uncertain stock market is not for the faint of heart. However, fortunately for Canadians, Segregated Fund products offered by many life insurance companies provide a safety net for nervous investors.

Fund products present some interesting opportunities for people looking to get more security in their investment portfolios without sacrificing their potential for growth.

Pay Attention to your Beneficiary

January 1, 2022blog, Estate Planning

Naming a beneficiary is a valuable feature of life insurance and segregated funds policies so it is important to carefully choose your beneficiaries.

How To Protect Your Estate

December 1, 2021blog, Estate Planning

You have spent your life working hard and accumulating wealth for you and your family to enjoy. While you are living you pay taxes annually on both your earned and investment income. But did you know that your assets may also result in a tax liability upon your death or the death of your spouse? In Canada, a taxpayer is deemed to dispose of all of his or her assets at death. If the value of these assets exceeds their cost, then, without proper planning, taxes could be payable.

But the good news is, it might be possible to reduce or at least delay the payment of this tax by organizing or re-allocating certain assets that would result in a tax liability at your death. There is also a way to cost-effectively accumulate tax-free funds to pay all or part of any taxes that may become due upon your death.

Of course, every situation is different, so you should consult with a financial advisor before making any big decisions. Below is a simple guide that will help you structure your estate in the most tax-advantageous method.

What Is The Right Age To Purchase Life Insurance?

November 1, 2021blog, Life Insurance

Deciding when you should purchase life insurance varies by person and the individual’s circumstance. But there are both benefits and drawbacks to purchasing life insurance at certain ages. Although the general consensus is that you should purchase when you are younger, there is no “wrong” age to consider purchasing life insurance.

That’s a good thing. Chances are your family may change or grow at different stages of your life, prompting you to consider purchasing a certain life insurance policy at different ages. Below we take a look at why it is a good idea to have life insurance at any age.

Category: blog

Is it Time for Your Insurance Audit?

Estate Planning for Blended Families

A Lifetime Gift for Your Grandchildren The Cascading Life Insurance Strategy

1 in 3 Canadians Will Become Disabled Before the Age of 65

Get Your Corporate Dollars Doing Double Duty

Why you should buy mortgage insurance through your life insurance advisor

Having Your Cake and Eating it Too

Pay Attention to your Beneficiary

How To Protect Your Estate

What Is The Right Age To Purchase Life Insurance?

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