The Foundation Series-Disability Income

If you don’t have group benefits where you work that provide Long-Term Disability coverage then you should consider a personal disability plan. Your income is fundamental to your lifestyle. If you suffered an income loss because of a disability what would it mean for you, for your family?  It isn’t hard to imagine the consequences [...]

Is an Individual Pension Plan Right for You?

No doubt we have read about the luxurious pensions that teachers, civil servants and others have that work in larger corporations. Many have what we call defined benefit pensions and most of us look on with pension envy. However you may qualify to have your own defined benefit pension plan. What is an IPP? An [...]

Critical Illness Insurance-Should You Buy it?

A very simple way to determine if you should is to ask these four questions. 1. Do you know someone that has suffered a critical illness such as heart attack, stroke, and cancer? 2. Did they plan on it happening? 3. Were there unplanned emotional and financial strains on the household or business? 4. Would [...]

The Advantages of Professional Corporations

Planning for Professional Corporations Article Courtesy of Canada Life Overview Many self-employed individuals incorporate their businesses to access the significant tax and non-tax advantages this form of business permits. However, until recently, many professionals were prohibited from incorporating their professional practices. In 2001, the Ontario government passed provincial legislation to permit certain professionals to incorporate. [...]

Do You Need a Buy-Sell Agreement?

Are you in business with other shareholder(s)? If you are then you need a buy sell agreement and one that is properly funded by life insurance. Consider the impact if: Your partner/shareholder died last night Or became permanently disabled Or decided to retire What happens now ? Without planning, his/her business interest transfers to his/her survivors [...]

Do Rich People Need Life Insurance

Life Insurance has two fundamental purposes. The first is for estate creation when young married couples with children have little cash but often liabilities like a mortgage. The second purpose is for estate conservation. Many people build wealth through businesses or investments. Little do they realize that they are in partnership with the government through their Capital Gains [...]