I show you strategies that will provide for your family when you are no longer here. I don't believe in a one-size-fits-all approach to insurance.
Do you provide for your family? Would you want to guarantee that your family is provided for after you die? That's what I do, show you strategies that will provide for your family when you are no longer here. Using specially structured life insurance strategies, your life insurance protection will be there when your family needs it. My company, Sun Life Financial, specializes in Life, Health, Critical Illness, Disability Insurance and employee benefits... but we do so much more! Choosing the right insurance for your individual needs or business can be tricky. While you may know the basics about protecting your family, business and property, true satisfaction requires extending beyond the "bare minimum". At Sun Life Financial, we don't believe in a one-size-fits-all approach to insurance. Instead, our insurance plans are tailored to your specific needs. Whether you're seeking coverage for 10 months, 10 years or a lifetime. I can help you balance costs and benefits, weigh your options and develop a plan as unique as you are. All it takes is a phone call and a few minutes of your time. Whatever your questions, I'll answer them, so you can make informed decisions. Let's create a plan that works seamlessly with your unique situation. Protect your assets and your future --- Call Andy @ 647-818-7966. Email - firstname.lastname@example.org
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Critical Illness Insurance Critical illness insurance is a form of protection that can provide you with a lump sum payment if you suffer from a covered critical illness and the survival period is satisfied. The physical and emotional strain of a critical illness can be severe and when you combine that with the potentially damaging financial impact, the result can be devastating. That’s where the critical illness benefit comes in—you are free to spend the money as you wish—such as to help cover lost income, to pay for private nursing or out-of-country treatment, for medical equipment or even to pay off your mortgage. It can help you where you need it most so you can focus all your energy on recovering. A critical illness can happen to anyone: - It is estimated there are over 70,000 heart attacks in Canada each year. - There are between 40,000 and 50,000 strokes in Canada each year. - An estimated 3,075 Canadians will be diagnosed with cancer every week. Conditions covered in Critical Illness Insurance: Cancer Stroke Heart Attack Coronary Artery Bypass Surgery Alzheimer’s Disease Aortic Surgery Aplastic Anaemia Bacterial Meningitis Benign Brain Tumour Blindness Coma Deafness Heart Valve Replacement Kidney Failure Loss of Limbs Loss of Speech Major Organ Transplant on Waiting List Major Organ Transplant Motor Neuron Disease Multiple Sclerosis Occupational HIV Infection Paralysis Parkinson’s Disease Severe Burns For more Details, please contact Andy Nagpal @ 647-818-7966
IS LIFE INSURANCE AN EXPENSE? Most people look at Life Insurance as an expense. Like auto and home insurance. If you go with a term policy, then that could be the case if nothing tragically happens to you during that time period. Why do you think term life insurance is so cheap? It's because it is almost never gets paid out. Either one stops paying the premiums or the policy terms out and you have to either purchase another one (if you are medically cleared) or you retire and feel you no longer need it. In this case, the answer is yes, it is an expense. Has your financial advisor truly explained the difference between term and permanent life insurance? Did he explain the cash value in a permanent life insurance? A permanent life insurance product can truly be a savings vehicle while still protecting your family. Furthermore, it can be used in retirement! You work all your life to retire comfortably. You have your RRSP you can tap into (at age 65) and any other savings vehicle you have been using. Then you start to withdraw money in your retirement. Taxes will be taken out when you withdraw your RRSPs and you might do your due diligence to not withdraw at a rate that will leave you with much less money while you and your wife are still living. How much can you withdraw? Will you go with the 4% rule? Only withdrawing 4% from the accounts so that you will have enough money to live your life. What if I told you that you could withdraw money from your life insurance policy tax-free? Depending on when you started the permanent life insurance, you could have 100's of thousands of dollars in cash value sitting right in your policy that you could borrow from. A whole life insurance product pays dividends and builds cash value over the life of the contract. You can borrow that cash and still keep the life insurance contract in force!! The death benefit might be little lower, but you would also have more cash to use in retirement. Maybe you can withdraw more money from your accounts in retirement and then if something were to happen to you then your spouse would get the Life Insurance and the money left in the accounts to live on. Or if both of you live into your 90's (quite possible nowadays) you then can start withdrawing money from your life insurance. Please make sure you get all the details before making an important decision such as Life Insurance. It is not just an expense!! It could be a very important investment for your future. FOR MORE DETAILS, CALL ANDY @ 647-818-7966.
Why Buy Life Insurance? Protecting Dependents The most common reason for buying life insurance is to protect a person's dependents. If that person dies, his or her dependents have to deal not only with the loss of a loved one, but also the loss of that person's present and future income. The tax-free, lump sum payment from a life insurance policy can replace the deceased person's earnings, pay debts and other liabilities, and cover education costs and daily living expenses of the surviving family members. Preservation of the Estate Another reason to buy life insurance is to pay any debts, tax liabilities and other estate costs to ensure that the estate's assets don't have to be eroded or borrowed against to cover these expenses. For more information, please contact Andy @ 647-818-7966.
MORTGAGE INSURANCE FROM A LENDER OR PRIVATE LIFE INSURANCE Mortgage insurance is offered to you by most banks and lending institutions when you buy a home or refinance your existing mortgage in Ontario. This type of mortgage insurance pays off the balance of your mortgage to the lending institution when the person listed on the mortgage passes away. This Type of Mortgage Insurance is Not The Best Choice. The amount payable decreases with the balance of your mortgage but the premiums don't. The benefit gets paid to the lending institution rather than to the person you choose. This then becomes part of your taxable estate The premiums might remain level throughout the term, but it will increase on the renewal of the mortgage. A BETTER CHOICE - LIFE INSURANCE FOR COVERING YOUR MORTGAGE A better choice would be private life insurance owned by you. It could be used to pay off the remainder of your mortgage and it also has many benefits which make it a better choice. Some of the additional benefits to private life insurance are - Provides protection for you and/or your spouse Your choice of a specific period of time or your entire life You choose how to allocate the proceeds You can purchase as much insurance as you like; not limited to the amount of your mortgage Benefit and premium can be guaranteed to never go up or down for the term of the policy You choose the beneficiary and the proceeds are not taxable. For more information, please contact Andy @ 647-818-7966.