Leaving behind a lump sum to your family to pay off large debts such as a mortgage or ensuring your children's education is fully funded can provide peace of mind. Or providing the capital needed to buy out a business partner or satisfy the requirements of a business deal that can only be funded by using life insurance.
Insurance strategies range from basic term insurance plans to more advanced wealth creation whole life and universal life plan options.
Some of our advanced wealth creation strategies utilize the tax advantage of permanent insurance. These strategies allow our clients to set up tax-free retirement income from their policies during their retirement years.
Protecting your ability to earn an income in the event of a disability will reduce the need to tap into your investment and retirement assets. You can set up plans to supplement existing group benefits or set up individual plans that are robust and even provide a return of premium in the event that you never become disabled!
The *statistics show that one in four Canadians will be afflicted with a critical illness in their lifetime. 80% of critical illness claims are cancer, stroke, heart attacks, or kidney failure.
The treatment and recovery process can be financially devasting when your provincial or medical plans do not cover certain costs - such as alternative treatments, treatments in the US, parking, etc.)
A Critical Illness plan provides a lump-sum payout after (a certain period - usually 30 days) diagnosis of a critical illness (covered illness varies by policy). This money is yours to use as you see fit and provides immense peace of mind to policyholders.
* Source: Great-West Life, London Life and Canada LifeTM commissioned Head research to conduct Critical Illness Insurance thought leadership research in August 2015.
One of the main enjoyments in life is travel or entertaining visitors from overseas. It is wise to not have to worry about unplanned medical costs that may not be covered by your provincial insurance.
Whether you need a supplemental top-up for your group plan at work or an individual plan, we have options to cover all needs.
Mike Sukhram, MBA, FMA, PFP, CIM | Financial Advisor
Carte Wealth Management Inc. | Main Street Adviser Group
905-891-7171 | email@example.com
Mutual Funds and ETFs provided through Carte Wealth Management Inc.
Insurance products such as segregated funds, life, disability, and critical illness insurance are offered through Carte Risk Management Inc.
Banking services through referral arrangement.