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1.)
BUSINESS OVERHEAD DISABILITY INSURANCE
ExpenseComp plan provides a monthly benefit to
cover the fixed overhead expenses of running your
business or professional practice, while you are sick or
injured.
WHAT DOES EXPENSECOMP COVER? It will cover your rent,
employees' salaries, utility bills, furniture and
equipment costs, just to mention a few.
HOW DOES IT WORK? If you can't work, the insurance
company reimburses your covered expenses, up to the
Monthly Benefit amount of the policy. Benefits start
after the elimination period and continue while you
remain disabled, up to the maximum benefit period.
WHAT'S SPECIAL ABOUT EXPENSECOMP? * Non-Cancelable to
Age 65 - The insurance company cannot increase your
premiums, restrict your benefits, cancel your policy or
reduce your benefits because of a change in your
occupation or health status * Residual or partial
disability benefits available this covers a portion of
your expenses if you can only work part-time * Extended
Benefit Period * Carry-Over Provision * Sale of Business
Benefit * Waiver of Premium * Death Benefit * Conversion
Option * Optional benefits help you customize your
coverage * Premium Refund Rider * Additional Insurance
Rider * Patient Protection Rider * First Day
Hospitalization Rider
2.)
CHOOSING A FINANCIAL ADVISOR
Some of the more common issues addressed in
developing a financial plan include:
* TAX PLANNING * Deductions and tax shelters * Capital
transactions * Estates and trusts * RRSPs, RRIFs and
other products
* INSURANCE PLANNING * Life, Health & Disability
Insurance * Business Insurance * Property and Casualty
Insurance
* BUSINESS PLANNING * Pension, profit sharing *
Employee benefits * Business continuation
* INVESTMENT PLANNING* Segregated &
Mutual Funds, annuities
3.)
CRITICAL ILLNESS BENEFITS
The Insurance plan that pays a TAX FREE, lump
sum of cash, from $50,000 to $1,000,000, while you are
alive!
The benefit is paid 30 days after you are diagnosed or
suffer any of the following:
- Heart Attack
- Coronary Bypass
- Stroke
- Cancer
- Multiple Sclerosis
- Blindness
- Deafness
- Loss of Speech
- Kidney Failure
- Paralysis, 2 or more limbs
- Loss of 2 or more limbs
- Coma
- Major Organ Transplant, including: Heart, Lung,
Kidney, Liver, Bone Marrow or Pancreas.
4.)
ESTATE DIRECTORY
The directory contains valuable estate
information for locating relatives, friends, advisors,
assets and important personal papers.
The Purpose of the Estate Directory
The Estate Directory is designed to help you organize
critical personal information to be used at a time when
it will be needed the most. Documenting this data now
will prepare others to assist with your affairs in the
event of a severe disability or untimely death. The
Estate Directory will help to quickly locate the
important people in your life as well as your important
personal papers at a time when things are already
complicated enough.
The benefit of this type of advance planning is
enormous, and people who would ordinarily be overlooked
will be immediately contacted.
The directory should be left with us in your trust and
its whereabouts should be identified on a card you carry
with you at all times.
5.)
ESTATE PLANNING
Are you married? Do you have children? Do you
own a home or other valuable assets? Do you have a
Business or a Practice? If you answered "yes" to any of
these questions, you probably need an estate plan.
What is an estate plan? In short, it's the blueprint
of your assets and your family's financial future after
you're gone. It determines who will take care of your
children, who will inherit your assets, and to some
extent, how much your estate may owe in Taxes. If you own
a business, an estate plan spells out who will inherit
the business and who will run it. Revenue Canada is
essentially a silent partner owning 40% of your Capital
Gain Assets. In reality, a Ticking Time Bomb if
tax-planning opportunities are ignored.
6.) LONG
TERM CARE
INSURANCE
PROVIDES MONEY FOR IN-HOME OR FACILITY CARE
A recent survey of Canadian seniors revealed that their
No.1 concern was the cost of long-term care.
Do you feel the same way?
The possibility of requiring long-term care increases
with age. Many people feel, as perhaps you do, that the
provisions of our government health care plan will
greatly diminish in the future.
Almost all people want to retain the ability to make
choices about the type of care they desire and need. Take
Control of Tomorrow..... Today!
7.)
SEGREGATED FUNDS - RRSPs and Non-Registered
Segregated funds are similar to mutual funds but
offer guarantees of a return of at least 75% of the
capital invested, upon death or at maturity of the
contract.
A segregated fund also provides credit proofing to the
investor; this is a result of the funds being classed
under the Insurance Act and thereby exempt from seizure
by creditors. The only exception is in the case of
fraud.
Investors planning their estate appreciate the fact
that upon death; the value of the contract is paid
directly to the beneficiary without probate.
8.)
SHARE BUY-OUT DISABILITY INSURANCE
If you have an active business partner, you have
a vested interest in his/her ability to contribute to
your success. Should your partner suffer an accident or
sickness, which permanently prevents him/her from
participating in the business, you could suffer serious
financial consequences.
WORKING WITH OUR TEAM OF ADVISORS WE CAN HELP YOU:
* Formulate a plan for disability by creating a legal
document called a Disability Buy/Sell Agreement. *
Determine how long a Total Disability should last before
a Totally Disabled partner would sell his/her shares to
the remaining healthy partner (s} (i.e. one or two
years). * Determine a fair method of valuing the Disabled
partner's share of the business at any given point in
time. * Determine how much of your partner's share you
could personally afford to buy. * Implement a special
insurance contract to provide you with Tax Free money to
buy out your disabled partner.
9.) WHAT
IS LIFE INSURANCE?
Life insurance is an agreement between you, the
insured, and the insurance company that guarantees the
payment of a stated amount of money upon death. Life
insurance is typically used to provide cash at death to
pay final expenses, to pay off debts, and to provide
income for your dependents.
AN IMPORTANT DECISION.
Purchasing life insurance is one of the most important
decisions you will make, in terms of peace of mind and
the future security of those who depend on you.
Depending on your specific needs, the costs can be
significant, so the purchase of life insurance should be
approached carefully, with a clear understanding of your
objectives and of the options available to you.
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