Insurance is essential to any comprehensive financial security plan. If tragic events like death, disability or critical illness strike, insurance can protect you and your family from undue hardship. Some life insurance policies also provide tax-advantaged savings that you can draw on to achieve goals like buying a house or retiring comfortably.
As an independent Life and Health Insurance Advisor, I have access to a variety of life and health insurance solutions that can help meet your financial security planning needs. No matter your personal situation—if you’re single or in a family; a professional or a seasonal employee; an executive or small business owner—we will work together to design a customized plan.
In the event of death, life insurance offers surviving family members increased financial security. As a tax-free lump sum payment, it can pay for final expenses and debts, as well as provide income for the deceased’s dependents.
The advantages of life insurance include:
- An instant estate for your loved ones at a time when funds are most needed
- Death benefits that are almost always non-taxable for named beneficiaries
- Avoid probate costs if you name a beneficiary other than your estate
- Potentially offer your loved ones creditor protection through some life insurance plans
- Build tax-advantaged capital for retirement purposes or provide liquid savings through some permanent life insurance plans
I can help you select coverage from a variety of life insurance options to meet the needs identified in your financial security.
Life insurance can play a vital role in your financial security plan—contact me today to find out how.
Help protect one of your most valuable assets – your income – from unexpected challenges through long-term care, disability and critical illness insurance.
A steady income is important for both current financial obligations (e.g. grocery bills and mortgage payments) and for future financial security (e.g. planning for your children’s education or for retirement). Just think what might happen if you suddenly lost your income stream through a long-term illness or disability.
Long-term care and disability insurance solutions not only help protect your ability to earn an income, but also help ensure your peace of mind and continuing health.
Long-term care insurance
Long-term care insurance helps you maintain financial independence and security in the event you suffer a condition that requires long-term care, such as a chronic illness.
Given Canada’s aging population, many people already have family or friends who suffer from waitlists and overcrowded long-term care facilities. Yet private home or facility care is an expensive alternative, especially for retired people on a fixed income.
Consider a form of insurance that can help address these challenges. Depending on the specific plan chosen, long-term care insurance can:
- Provide a lump sum payment following the diagnosis of a covered illness
- Help cover expenses, including medicine and treatment, for long-term health and personal care
- Cover services in your own home or in a long-term care facility
- Assist with financial expenses like lost employment income
Protect your financial security in the event of an accident or illness that makes you unable to work.
Suffering a disability can result in a significant loss of income, and insurance can help cover your expenses. Rather than a single lump-sum payment, Disability Insurance benefits are almost always payable on a monthly basis.
Short-term Disability Insurance can provide an income during the early part of a disability, while Long-term Disability Insurance helps replace an income for an extended period of time.
Depending on the specific plan chosen, disability insurance can:
- Help maintain your financial independence, lifestyle and security through monthly payments
- Assist with paying fixed expenses for your business
- Support the buy-out of a disabled partner’s share of a business
Critical illness insurance
Suffering a critical illness would be distressing for both you and your family. Help ease the burden through insurance that will reduce financial stresses and can complement disability and life insurance protection needs. By helping pay for the additional expenses often associated with a critical illness or condition, insurance offers you, your family, and if applicable, your business, added financial security—so you can focus on recovery.
The advantages of critical illness insurance can include:
- Coverage for up to 22 critical illnesses or conditions
- An initial lump-sum benefit you can use however you wish—from making mortgage payments to seeking medical treatment outside Canada
- Home-care costs during illness and recovery periods
- Even if you’re not disabled from working, you may receive payment
- The ability to provide a return of premium benefit (optional)
- Individuals who cannot obtain disability insurance in some cases still qualify for critical illness coverage (e.g. a non-income earning spouse)
Depending on your situation, you may or may not be covered under an employer’s group benefits plan. If not, I can help you choose a health and dental plan that can help cover out-of-pocket medical and dental expenses for you and your family. These plans are designed to provide various levels of enhanced healthcare protection, depending on your needs and the stage of life you’re in.
When designing your customized heath and dental insurance package, you can choose from an array of services. Coverage Options include:
- Prescription drugs, which many Canadians consider one of the most valuable forms of health coverage.
- Paramedical services, ranging from the use of an ambulance to a visit to the massage therapist.
- Vision care if you or your family members wear glasses or contact lenses.
- Protection while on vacation or a business trip with out-of-country medical coverage.
- Access to private or semi-private hospital rooms.
- Dental care can include basic dental work as well as a portion of orthodontics, depending on your level of coverage.
Contact me to find out more about enhanced healthcare and dental protection for you and your loved ones.