It’s a common misconception that having a pre-existing condition means that you automatically do not qualify for life insurance. The good news is this is not always the case and armed with a good life insurance agent, many individuals with pre-existing conditions get approved for insurance. The path to being insured just may look a little different for someone with a medical condition.
Covid-19 has stopped the world in its tracks. Many Canadians are feeling the stress of volatile markets, job insecurity, loss of income, and fear of contracting Covid-19. You may be feeling like you need the advice and support of your advisor now more than ever. The good news is your advisor is here to see you through these tough times; business might just look a little different!
Participating insurance can serve a variety of purposes for both individuals and businesses. For business owners, it may work well as a tax planning vehicle. For individuals, it may serves as a way to provide a modest inheritance to their loved ones after they are gone. Whatever the purpose of the policy, Participating insurance comes with a set of characteristics that offer great value to the policy owner.
Having a child with a critical illness can take both an emotional and financial toll. Having a critical illness policy on your child can give you the peace of mind that if your child become seriously ill, you’d have the financial resources to care for them.
Disability insurance is designed to help you and your family cope financially in the event that you become disabled and are unable to work. The purpose of this type of insurance is to protect your earning potential, therefore protecting your savings and lifestyle. Not all disability policies are created equal and it’s important to understand the differences between group and individual disability policies.
Many people do not want to think about life insurance for their children, but it can have benefits that exceed simply paying out in the event of a child’s death. Buying life insurance for your child can provide them with important protection in their adult years in the event that they become uninsurable. Some policies can even operate as a savings vehicle, providing your child with significant amounts of equity if they were to need it.
Life insurance is the foundation of solid financial plan and it is important to make sure that you and your family are protected if there is an unexpected death. While each family has a unique situation that will determine their insurance needs, there are some factors that hold true for most people. Below are some typical considerations to help you calculate how much insurance you should have.
Thanks to their size, small businesses usually rely on a few key people to keep operations running smoothly. Whether it is a front-line supervisor that runs the crews, a senior leader for slightly larger business, or the founder and owner of a company, the absence of key people can really cripple short-term results which can potentially place long-term business viability at risk.
Key Person Insurance is a risk management tool that helps to cover the loss of a valued contributor due to death or disability.
Though not something many people want to think about, planning for the death of a spouse or common law partner is an essential part of a financial plan. Unfortunately, many people are shocked when they realize that the survivor benefits that they receive from the government may not be as much as they were expecting. Below is a quick guide to CPP survivor benefits and how much you can expect to receive.