What Can I Do For You?
Financial Planning & Goal Setting
Build your wealth by getting support to create tangible goals and clear plan to help you achieve them. Let’s talk about where you are now and where you want to go.
Life, Disability & Critical Illness Insurance
Get guidance on the best options to protect your loved ones. I can provide you with a range of products to suit your specific situation.
Wealth Management & Investments
No matter what stage of life you are at, I can work with you to secure your future. Start with the blog to find useful guidance and get familiar with new strategies.
Insurance 101
The basics on insurance that you need to know.
Insurance should be a vital part of your financial plan to protect your income and hard earned assets. While no one expects to be diagnosed with a sickness, injury, or pass away during their life and working years, these events are unexpected possibilities. Insurance offers a protection for these unforeseen events. With the right coverage in place, you can use a fraction of your income - say 1% - 5% - to protect your entire income. Now that’s smart financial management.
What Is Life Insurance?
Life insurance falls into three categories and is designed protect your income. Insurance is typically used:
to insure living expenses during the period your children are dependent on you
to protect your children’s financial future
to maintain the quality of life for the survivors or
for personal loans
to provide adequate estate planning to pass on wealth
Click below to read more about the three key types of insurance.
-
This is the most affordable life insurance solution in the short term.
Insurance is temporary and only available for the fixed term selected (ie. 10 years, 20 years, etc.).
Premiums remain the same during the initial term.
Once the term has ended, you have the option to renew, should you wish to continue with your insurance coverage. If you renew, you are required to reapply based on your age and health at that time. Premiums will increase significantly at the time of renewal.
-
Your coverage is permanent (will remain until you pass away without the need to renew or reapply) and includes a guaranteed cash component.
Premiums are typically higher than term insurance. However, the premiums are fixed (will never change) and are applied towards the insurance coverage and cash component.
Some whole life policies offer dividend returns which can increase your death benefit and/or give you access to additional cash.
-
Your coverage is permanent (will remain until you pass away without the need to renew or reapply) and includes investments which are not guaranteed.
Premiums are typically higher than term insurance. Premiums are flexible and are applied towards the insurance coverage and investments. The policy has a minimum and maximum contribution limit which varies each year.
You are responsible for selecting and monitoring your investments and your investments are subject to market fluctuations (very similar to RRSP contributions where you are responsible for selecting your investments).
The death benefit is the face amount applied for at the time of application, plus any investments you have accumulated. You can also use the investments as you wish.
What Is Living Benefit Insurance?
When it comes to risk mitigation and wealth accumulation, you want to ensure you are protecting the most valuable asset while you’re alive…You.
Exercise and good eating habits are essential, yet these two activities do not guarantee a life free of injury or illness. An unexpected injury or illness can have a major impact on your lifestyle and finances. This could set you back financially, which is why you want a living benefit insurance policy as part of your financial plan. With the correct coverage in place, you can ensure your income is protected and supplemented in the event of an injury or illness, while you're still alive. That way, you can focus solely on recovery and getting well - not just on your finances.
Click below to read more about the main types of living benefit insurance.
-
Have you ever wondered how you would pay your mortgage loan - or bills for that matter - if an illness or an accident prevented you from working?
According to the Canadian Life and Health Insurance Association (CLHIA), one in three persons will experience a disability of at least 90 days before they turn 65. Many believe they can rely on government plans to protect their lifestyle. Here’s the truth of what they actually provide:
Employment Insurance: only offers 119 days of benefits
Canada Pension Plan (CPP): only for “severe” and “prolonged” physical or mental disability
Workplace safety and workers’ compensation plans (e.g., WSIP): coverage only for disabilities resulting from a work-related accident or an occupational disease.
If you’re self-employed, there can be more financial impacts depending on how you set yourself up from a tax perspective. Therefore, to lose your sole source of income because of a disability can have a major impact on your lifestyle and mortgage?
When you become disabled, you not only lose your primary source of income, but also face unexpected expenses related to your condition – expenses that you’ll have to pay out of pocket.
-
Being diagnosed with a critical illness disease can not only affect you physically, it can also affect you financially. More often than not, critical illness often requires you to leave your job to focus on getting well. This loss of income does not exempt you from your bills or your mortgage loan. This is why you purchase critical illness insurance.
You can purchase critical illness insurance to cover the 4 main conditions (Cancer (Life-Threatening), Coronary Artery Bypass Surgery, Heart Attack and Stroke) or you can purchase all 25 conditions. Here are a few stats for you according to Canadian Cancer Society, Heart and Stroke Foundation of Canada.
1 in 8 women are diagnosed with Breast cancer, 1 in 7 men are diagnosed with prostate cancer, 1 in 4 people are diagnosed with a heart disease and 1 in 20 people suffer from a stroke (CVA). The survival rate after 5 years is as follows:
Cancer 60%
Heart attack 85%
Stroke 80%
The survival rate is just one reason to purchase critical illness insurance.