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Is an IFA Strategy Right for You?

June 23, 2018 6:41 pm Published by

  You may have heard of an IFA (immediate financing arrangement) and wondered, “is this the right strategy for me?” To help you answer this question, we’ve created a profile of a suitable candidate for such an arrangement. Who Is It For? Generally speaking, an ideal candidate for an IFA is someone between 35 to 55 years of age. They are investment savvy and have an established business with growing revenues. Their business is on a consistent upward financial trajectory and, as a result, they’re accumulating excess revenue which can be invested. In short, an IFA is optimal for someone...

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A Seat at the Table: An Inclusive Approach to Corporate Insurance

May 22, 2018 1:38 pm Published by

Stronger Together When you purchased your first home, you probably didn’t do it alone. Most likely you consulted your parents, spouse, realtor, mortgage broker, barista, hairstylist…you get the point. In short, you brought in a team to help you make a large and important financial decision. When it comes to buying corporate insurance, I feel that it’s best to take the same approach, which is why, as an insurance advisor, I like to work with my client’s accountants and lawyers.   The Importance of the Team The importance of bringing the team to the table was impressed upon me years...

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Beyond IPP: Alternative Retirement Saving Strategies in Changing Times

April 26, 2018 4:10 pm Published by

Corporate Life Insurance, a wonderful asset that can be used to accumulate your retirement savings in a tax-exempt vehicle, which thereby keeps it away from tax changes that have cost owners quite a bit over the last 12 months.       IPP or Corporate Whole Life Permanent Policy? “I’m planning to retire, and in this new tax regime I don’t know whether I should pay a higher salary, keep contributing to my RSP and set up an IPP in a company, or consider another alternative?”   Saving for Retirement In light of the new tax changes that prohibit how...

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The Power of Now – Insurance Immediate Finance Arrangements

April 7, 2018 4:16 pm Published by

    We know you care about your loved ones and having a succession plan in place is important to you; however, at this stage in your life and career, you don’t necessarily want to put money away now, knowing that you’ll never get to touch it again. It’s one of the most common concerns about buying corporate permanent life insurance–paying premiums now that will only benefit the next generation.   The Long and Short of It There’s nothing wrong with that life insurance paradigm in theory, but what if you could ensure that the next generation benefits in the...

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Life Insurance as an Asset

March 7, 2018 4:20 pm Published by

When I ask people if they invest in their business, invariably, most contend that they do. However, beyond the more traditional forms of investment, what they’re not always aware of is that there are other beneficial investment strategies to explore.   This usually leads to these more specific follow up questions: Do you need life insurance for risk management? Do you prefer to invest in longer-term investments within your corporate or personal net worth? If the answer is “yes” to both of these questions, a successful course of action would be to do BOTH, using one of the misunderstand and...

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Do You Have a Succession Plan in Place?

January 7, 2018 4:22 pm Published by

“Exploring opportunities you may have to save tax or grow your wealth through early estate or succession planning may be the best New Year’s resolution you’ll ever make.” I’m often approached by shareholders asking me about succession strategies. It’s a great question.  When I ask them what they have in place legally to transition their assets or corporate shares, they usually know there’s something in place, but don’t have a clear understanding of what it entails. It’s important to make sure you know what you have, what it’s for, and how it’s going to be funded.  Because if you do...

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Is Corporately Held Insurance Right for You?

December 10, 2017 4:24 pm Published by

“If the Federal Government removes the Pipeline Method, having corporately held insurance will allow capital gains to be taxed at a lower rate. Now more than ever, corporately held insurance is a sound financial move.” Recently, I’ve been contacted by many lawyers, investment advisors and clients asking about the benefits of Corporately Held Insurance – insurance owned by an incorporated business rather than an individual. It is most commonly put in place when a corporation is profitable and they want to be able to protect their interest if an owner or key employee dies.   Proposed Federal Government Tax Changes...

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4 Questions to Ask Yourself Before Buying Life Insurance

October 18, 2017 4:27 pm Published by

There’s no way to paint a pretty picture to help people understand the necessities of buying life insurance. The important thing to understand is that you don’t buy life insurance for yourself, you buy it for your loved ones. Life insurance is a foothold on reality for your spouse and your children in the event of your death. It’s a reality of life we put off because we don’t want to think about the events that could make life insurance necessary. But the problem is we still end up thinking about it, don’t we? Living without adequate insurance will slowly...

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The Life-Changing Benefits of Registered Disability Savings Plans (RDSP’s)

September 22, 2017 4:30 pm Published by

Life can change in an instant. I was introduced to a great friend of mine around ten years ago for the first time in a trendy pub with high tables and a crowded, funnel-style bar serving fancy drinks. It was a great time with friends, laughter, and a bubbling crowd enjoying the night. As soon as I met Sara I immediately shuddered because of how uncomfortable I’d be in her situation: plowing through the crowd hip-high in a motorized, high-powered (and expensive-looking) wheelchair. But it didn’t seem to slow her down or dull her mood. And why should it? Sara...

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What Isn’t Covered by Health Insurance?

August 22, 2017 4:32 pm Published by

In our last post we dug into the meat and potatoes of health insurance for travellers. Needless to say, the key message was this: don’t take unnecessary risks. It’s important to protect yourself, which means it’s important to know exactly what your insurance covers and what isn’t covered by health insurance. Because travel insurance does not cover everything. It has exclusions, conditions, and limitations. Like we talked about last month, most policies do not cover pre-existing conditions. The definition varies from policy to policy. Other common exclusion is accidents or illness caused by abuse of drugs or alcohol. Also not...

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