{"id":265,"date":"2014-05-08T10:44:02","date_gmt":"2014-05-08T17:44:02","guid":{"rendered":"https:\/\/mgfadvisory.ca\/news\/?p=265"},"modified":"2018-08-23T10:44:30","modified_gmt":"2018-08-23T17:44:30","slug":"the-cost-of-doing-nothing-when-life-insurance-becomes-the-better-option","status":"publish","type":"post","link":"https:\/\/mgfadvisory.ca\/news\/2014\/05\/08\/the-cost-of-doing-nothing-when-life-insurance-becomes-the-better-option\/","title":{"rendered":"The Cost of Doing Nothing. When Life Insurance becomes the better option!!"},"content":{"rendered":"<div><img decoding=\"async\" class=\"image-right\" src=\"http:\/\/www.mgfadvisory.ca\/images\/life-insurance.jpg\" alt=\"life insurance options \" align=\"right\" title=\"\"><\/div>\n<div class=\"post-description\">\n<div>\n<p>I\u2019ve been involved in multiple client situations over the past years, each which comes back to a basic concept:\u00a0 Is the cost of doing nothing more than the cost of buying life or disability insurance?<\/p>\n<p>When we have our health, and expect many years of longevity without accident or illness, the cost of insurance may seem like an extra and unnecessary cost.\u00a0 Yet when we test a given situation with an unexpected loss of life or disability, the cost of doing nothing can be quite damaging:<\/p>\n<p>&nbsp;<\/p>\n<ul class=\"arrow_list\">\n<li>Families are left to support the disabled income earner without the assistance of adequate disability or critical illness insurance.<\/li>\n<li>Widowed spouses are left without adequate life insurance to repay outstanding debts or cover short to mid-term cash flow needs;<\/li>\n<li>Young children are left with a hole in their savings vehicles for their post secondary education or other future purchases that would have been aided (e.g. first car purchase, down payment on a home or condo).<\/li>\n<li>Adult children are left with significant income tax, probate fee and property transfer taxes liabilities when a parent passes away and real estate interests are inherited, with the only remedy available being bank financing that costs the amount owing plus aggregate and compounding interest.\u00a0 And that assumes that bank financing can be qualified for!!<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Never once when I am involved in a case where there is a payout of life or disability insurance for a claim have I heard that the costs of the insurance was too much.\u00a0\u00a0 Instead, I\u2019ve witnessed the immense appreciation and financial relief that a properly constructed life or disability insurance portfolio provides those in need.<\/p>\n<p>Add to the benefit that a proper and timely insurance portfolio review can also uncover estate planning tips and traps that can save significant costs and time.<\/p>\n<p>Whatever you financial circumstance and stage of life, a proper insurance portfolio can add significant value to your family\u2019s wealth.\u00a0 Much more than the cost of doing nothing.<\/p>\n<p><strong>Questions about your insurance options?<\/strong><\/p>\n<p>Call me at\u00a0<a href=\"tel:604.789.3888\" target=\"_blank\" rel=\"noopener\">604.789.3888<\/a>\u00a0or contact me at\u00a0<a href=\"mailto:marco@mgfadvisory.ca\" target=\"_blank\" rel=\"noopener\">marco@mgfadvisory.ca<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"I\u2019ve been involved in multiple client situations over the past years, each which comes back to a basic concept:\u00a0 Is the cost of doing nothing more than the cost of buying life or disability insurance? When we have our health, and expect many years of longevity without accident or illness, the cost of insurance may&#8230; <p><a class=\"view-article\" href=\"https:\/\/mgfadvisory.ca\/news\/2014\/05\/08\/the-cost-of-doing-nothing-when-life-insurance-becomes-the-better-option\/\">View Article<\/a><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-265","post","type-post","status-publish","format-standard","hentry","category-insurance"],"_links":{"self":[{"href":"https:\/\/mgfadvisory.ca\/news\/wp-json\/wp\/v2\/posts\/265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mgfadvisory.ca\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mgfadvisory.ca\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mgfadvisory.ca\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mgfadvisory.ca\/news\/wp-json\/wp\/v2\/comments?post=265"}],"version-history":[{"count":0,"href":"https:\/\/mgfadvisory.ca\/news\/wp-json\/wp\/v2\/posts\/265\/revisions"}],"wp:attachment":[{"href":"https:\/\/mgfadvisory.ca\/news\/wp-json\/wp\/v2\/media?parent=265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mgfadvisory.ca\/news\/wp-json\/wp\/v2\/categories?post=265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mgfadvisory.ca\/news\/wp-json\/wp\/v2\/tags?post=265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}