Small Business Series – Part II

Disability, Living Benefits, News

DISABILITY INSURANCE: LOSS OF INCOME PROTECTION

If you are self-employed, it’s important to make sure your income is adequately protected in case of a disability.

Have you thought about how you will take care of your business, family, and yourself, if your health impacts your ability to work?  Let’s take a realistic look at your expenses

Now what happens during a disability? …Disaster!

Disability insurance is like having a ‘silent partner’ to take on the risk and provide income replacement, if you get injured, or suffer from a critical illness.  Disability insurance does not make people rich; but it keeps them from becoming poor and it’s more affordable than you think.

The best financial plan in the world will only survive as long as your income does.  Protect your most valuable asset – your ability to earn income.  Contact me for your FREE Disability Needs Analysis.

Small Business Series – Part 1

Living Benefits, News

BUSINESS OVERHEAD EXPENSE (BOE):

One of the first things to consider in protecting your lifestyle is Business Overhead Expense (BOE) coverage. Especially designed for sole-proprietors, partnerships, and small businesses, this policy will keep your business afloat for a short period, while the owner focuses on getting better. A monthly benefit is paid as a reimbursement to pay for fixed and ongoing expenses such as rent, salary of employees, business & property taxes, utilities, vehicle expenses, insurance etc. The premiums are affordable and can be used as a deductible business expense.

Ways to Cover Business Expenses in case of a Disability or Illness: 
Do any of these alternative solutions make sense?
Savings: Maybe you’ve considered using your retirement savings as a back-up plan? Consider this…If you earned $45,000 year and saved 10% of your income, a 6 month disability would wipe out 5 years worth of savings.
Spouse: You may be thinking that you would still have an income from a working spouse. Would one income be enough if you are currently living off two? If your spouse is still working, will your spouse be able to juggle work and take care of you?
Borrowing: You might have a difficult time securing a loan when you are disabled. Would you be willing to lend money to someone who is not able to earn the funds to pay it back?
Group Benefits: Even if you have group benefits they may not be adequate over the long term. Many group plans only replace about half of your net income. Is that enough? 
For a small monthly premium Business Overhead Expense coverage can be an affordable solution that makes sense: Request Information

Desjardins – Guarantee Advantage

Investments, News

Guarantee Advantage is an excellent alternative to GICs. The product is a ‘market linked term investment’ that offers a guaranteed minimum return over a 3 or 5 year term with risk free access to securities, of well established companies.

The current campaign is offering up to 10% over a 3 year term and up to 25% over a 5 year term. (Current Campaign – Deadline for deposits: March 27, 2015).  Campaigns run four or five times a year and rate offerings will vary.

More Features:

– higher return potential than fixed interest term investments

– no portfolio management or management fees

– can be surrendered anytime

– minimum investment of $500

– deposits accepted up to age 95

– eligible for registered plans including TFSAs

– protected by Assuris

What the Banks Can’t Give you When you choose Desjardins:  click here

Contact me to request more information on the current campaign.

Eat Well for a Better Retirement

Life Letters, News

healthy foodOne of the unfortunate side effects of a prosperous society, that most of us enjoy, is the ability for afford things and this includes food. According to some sources, as much as one-third of the North American population is now obese. Eating well does not mean the expensive, processed, or caloric dense foods, so readily available.

Our daily food choices can make an important difference to our health.  Read more..

Life Insurance in Estate Planning

Life Insurance, News

Life Insurance picLife insurance is used as part of an estate plan and has many uses including income & probate taxes at death, mortgage and other debt repayment, income replacement, educational expenses, and wealth accumulation for heirs. It is also used to fund business buy-sell arrangements.

Proceeds from life insurance are generally paid out tax free to beneficiaries and are kept separate from the estate.

For tax planning purposes, life insurance should be considered an asset not an expense.  Read more…