We protect families financially by preserving the value of your assets from the unexpected costs of a serious illness, disability, long term care need or premature death.
As your situation and plans change over time, we can work together to ensure that the proper protection is in place, complimentary to your existing coverage and based on a personal needs analysis that is specific to your objectives.
Careful consideration should be made when creating and implementing your wealth protection plan. We invite you to make an appointment with us today so that we can ensure your plan is structured to achieve your goals.
Losing a family member at any time is particularly devastating. There is nothing that can reduce the emotional impact of such a huge loss. We can, however, help the survivors with the resulting financial hardships.
The purpose of life insurance is to provide a measure of financial security for your family after your death. Before purchasing any life coverage you should consider your financial situation and the standard of living you want to maintain for your family.
Income replacement, mortgage and debt repayment, final expenses, education funds and leaving a legacy for your loved ones are some of the items we discuss when creating your estate plan.
For most families, life insurance needs change over time, this is why there are a variety of life coverage products available, we can review these together.
For most of us, our largest asset is the ability to work and earn income for our families for years to come. Anyone who works to earn an income and depends on this income to pay for their living and lifestyle expenses faces a serious financial risk, if they are unable to continue.
The onset of a disability can negatively impact your financial goals and dreams by significantly reducing household income. Consequently, saving levels and debt repayments are affected, resulting in a financial shortfall for your goals and dreams.
By calculating your basic income needs and considering your Canada Pension Disability and/or Group coverage amounts we can determine a personal benchmark from which to start your plan. Benefits are usually provided on a monthly basis so that you can maintain your standard of living and continue to pay your regular expenses.
A personalized income replacement plan keeps families in their homes, children off to university, mortgage and debts repaid and retirement plans on track.
Contracting a serious illness or disease can be devastating for both your emotional and financial health. If you find yourself unable to work due to failing health, you may be unable to pay for basic needs or necessary medical care, adding stress about money to worries about your health.
Critical illness protection is designed to alleviate some additional expenses should you find yourself facing a life-threatening health problem. Unlike income replacement coverage, critical illness plans pay a lump sum tax-free benefit to be used as needed upon diagnosis of an approved illness.
The use of this benefit is completely up to you. It can be used for out-of-town family members to visit, house cleaners, medical treatments, medical equipment, home repairs/modification, living expenses, even final vacations with family or friends.
The majority of critical illness claims are for heart attack, stroke and cancer diagnosis but they also cover other health issues depending on the policy details.
These types of plans allow you to focus on getting well and being with family and friends rather than worrying about making ends meet when you have additional health care costs.
Protecting your financial dreams against the costs of long term care is another way to assist you in achieving your goals.
With longer life spans, one threat to your estate is the risk of requiring long term care later in life. The cost of care in a facility or special treatment in your home can be substantial and is not likely to be fully covered through our provincial health plan.
Long term care insurance can help fund these costs without eroding your assets. Typically it pays a benefit for each week you qualify. This usually means you have an inability to perform at least two activities of daily living or because of cognitive impairment.
If you would like to have an open discussion about your health care planning, costs and coverage during retirement, please feel welcome to contact us and start the conversation.
Personal and Group extended health and dental plans are available depending on your needs.
These plans are in addition to your MSP coverage, and can be customized to suit your coverage level requirements.
Additional coverage can be helpful in spreading out the costs for unexpected bills from the dentist, pharmacist, optometrist, chiropractor, therapist and many others.
Determining the current cost of your medical expenses and the type and amount of coverage you would like is a good place for us to start, when reviewing these options.
For incorporated companies, limited companies or sole proprietorships, private health service plans can be a cost effective way to provide some coverage for you and your employees.
These plans allow you to expense your medical and dental costs through your company which then make them a tax deductible expense.
You can decide how to spend your healthcare dollars; there are no health qualifications or waiting periods to start the plan.
Private Health Service Plans are another tool we can use to increase your after-tax income.
If you are planning a trip out-of-province, don’t leave home without travel health insurance. As a client, you have access to IPC Travel through SecuriGlobe; your best travel insurance advisor – with a unique expertise in the travel insurance industry, particularly in the retiree and snowbird market. SecuriGlobe is accredited by the most competitive insurers in Canada, meaning a single call is all you need to compare the products and rates of 15 of the largest insurers. The travel insurance products available include:
Did you know the following facts about mortgage and creditor insurance offered through banks and trust companies?
What you should do We recommend that you purchase Individual Term Life Coverage for your mortgage in the event of premature death.
The advantages to Individual Term Life are:
Free Quotes If you would like a free quote on Individual Term Life Coverage for your mortgage insurance, please contact our office