Life insurance is an unselfish product. Buying a life insurance policy provides protection for your family and loved ones when you pass away. While it might not seem a necessity now, investing in Life insurance is one of the best decisions you can make.
As one of the core components of our business, we have had years of experience finding the right policies for our clients. Our job does not end once you buy a policy. We are here to handle absolutely anything that arises, tailoring our service to your evolving needs.
Living benefits are made up of two different products, Critical Illness and Long Term Care.
Gaining prominence over the last 10 years, critical illness insurance provides you with coverage against a potentially debilitating illness. The coverage encompasses a list of 21 different illnesses and if unfortunately you are diagnosed with one of them, you will receive a lump sum payout.
Relatively new in Canada ( yet common in the United States), long term care provides you with long term coverage to help shoulder the burden of medical costs ( such as palliative care, nursing homes, care givers etc.) allowing you to alleviate the burden to your family or the state.
Pension / IPP
The IPP, or individual pension plan is a great tool for business owners. If you own 10% or more of a corporation, you are eligible to set up an IPP. The CRA will allow you to pull money, tax free from the company’s retained earnings and deposit it into the plan.