FAQS

WHY DO I NEED A FINANCIAL ADVISOR?

Financial Advisors use their knowledge and expertise to construct personalized financial plans that include investment, savings, budget, insurance, and tax strategies. Financial advisors can also help you navigate more complex financial matters such as estate planning. Financial Advisors aim to achieve the current and future financial goals of clients through holistic financial plans tailored to your needs.

WHY DO I NEED A LIFE INSURANCE POLICY REVIEW?

You may need life insurance, or more coverage, if you:

Get married, form a common-law partnership or have a baby. If you died tomorrow, life insurance could give your partner enough money to pay basic living expenses.
Planning shortcomings. Unless you have liquid assets such as cash to support unplanned events, it is important to review and plan shortcomings with your financial advisor to ensure your finances are NOT compromised in an emergency.
Buy a home or take on other debt. Life insurance could help your family stay in their home and pay off your credit cards and loans if you died or became unable to work.
Get divorced. If you pay for your children’s support, life insurance could cover these costs in the event of your death. Your divorce agreement may require you to buy life insurance.
Support aging parents. Life insurance could provide funds to help support your aging parents if you die.
Own a business. If you buy insurance for yourself or a business partner, it will help keep your business going if something happens to one of you. Likewise, if your business takes on a big loan, life insurance could pay it off if you die.
Retire. If your pension income will stop or be reduced after your death, life insurance could help your family cover your funeral costs and pay their living expenses when you die.
Creating retirement cash flow. Life insurance is important for tax deferred growth, so that stream of income can be derived from life insurance.

HOW DO I DETERMINE MY INSURANCE NEEDS?

If you want to make sure that your family does not lose your home if you get sick or worse: Consider life insurance, disability insurance and various forms of mortgage insurance.
If you want to make sure you can survive financially if you get sick or injured or become disabled and can't work: Consider disability insurance and critical illness insurance.
If you want to make sure your loved ones don't suffer financially if you need in-home nursing or nursing home care: Consider long-term care insurance.
If you own a home-based business and want to protect your business and property against loss or damage: Consider various forms of business insurance.
If you travel or plan to travel outside the country: Consider travel medical insurance and trip cancellation/baggage insurance.
If you want to make sure you can pay your credit cards and other loans if you lose your job or can't work: Consider credit protection insurance and credit balance insurance.
If you don't want your loved ones to suffer financially after your death. If you also want to leave them enough money to pay for your funeral costs and estate costs: Consider life insurance, credit protection insurance and credit balance insurance.
If you want to make sure that your family member is covered for any medical and dental expenses: Consider Health and Dental insurance (if you are NOT covered under employer Group Insurance)
If you want to transfer your wealth to your loved ones or provide money to a charity of your choice upon your death: Consider life insurance.

FAQ: FAQ