Everyone knows that life insurance is important to protect the financial security of the people you love. But it can be confusing to know what you need, how much and when. Life insurance has to be adaptable to the changes in your life: buying a house, having a family, travelling, retirement all affect the amounts and types of insurance you need. There are different sources of insurance. For example, you may have personal life insurance and a plan from work, and your spouse may have a work plan as well. Credit card companies, mortgage companies, car loan companies all offer life insurance and disability insurance. They all sound like good deals, but can you be over insured?
We can help sort through this and other questions. We’ll ensure you and your family are well protected but that you’re not overspending on plans that bring no extra benefit.
Provides a tax-free lump sum benefit to your designated beneficiaries. The amount of coverage you acquire depends upon your unique situation: the money can be used by your beneficiaries for any purpose. (i.e. inheritance, tax liability, funding corporate buy-sell agreements, burial expenses, fund living expenses due to premature death, mortgage loan coverage)
Provides a daily benefit to offset the costs of home-based or nursing home care to those who lose part of their independence due to illness or age. Long-term care insurance can protect the value of your estate by offsetting the significant cost of nursing home care. It can prevent monetary dependence on children. It can also ensure your spouse has sufficient funds to maintain their lifestyle.
Pays a lump sum after 30 days if you are diagnosed and have survived a critical illness (i.e. heart attack, stroke, cancer). Different plans have unique features , including the ability to receive 100% of your money back if you don’t make a claim.
Provides a monthly income in the case of disability as defined in the contract. Benefits can last up until age 70, however, most contracts are to age 65. You may purchase “injury only” or “sickness only ” or a more comprehensive plan that offers significant features & coverages. Individual plans typically offer more benefits and better contractual definitions than group plans.
In the event that you suddenly become ill or injured and require medical attention while on vacation, travel coverage can keep you from going into debt. In most countries, medical expenses can be extremely costly, often thousands of dollars a day. Different travel insurance companies cover different amounts and services.
Health Benefit Plans
Health insurance provides coverage for a portion or all of the costs of Prescription Drugs, Eye Care, Hospital Expenses, Ambulance Services, Physiotherapy, Counseling , as well as Dental Care & Travel Insurance under one plan.
Health Spending Account for Business Owners
- Pay-as-you-go cost structure – no monthly fees
- Less restrictive than traditional health benefit plans
- 100% deductible to businesses
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