This involves the smooth and cost effective transfer of an estate to those named by, usually, a deceased person in their will. The will is a critical instrument as it follows the explicit wishes of the deceased and keeps the government away from administration of the estate.

All estates are taxed to a certain degree. The tax liability on an estate could be as high as 48% plus executor fees, legal fees, accounting costs and probate fees. The government does not care where these funds come from, they simply want them.

We can pay these taxes and fees dollar for dollar or for 10-15 cents on the dollar. In Canada the insurance and tax act allows that the beneficiary of an insurance policy receives the funds TAX FREE. This means that you can pay the required taxes with insurance dollars rather than estate dollars and transfer more of your estate to your beneficiaries. For example, assuming your estate has a taxable value of $1,000,000.00. The taxes payable would be approximately $480,000, leaving $520,000 to your beneficiaries. If you had purchased an insurance policy for $500,000 the cost might be $50,000 over your lifetime. Using this tax free money to pay the taxes on your estate you would be able to transfer $950,000 net to your beneficiaries.

The government just wants the taxes. You can pay them dollar for dollar when you pass away and your estate is settled or you can fund the future tax bill with 10 cent dollars now. The choice is yours.

Let me show you how planning now can save your hard earned money!

The odds are 1 in 4 that a disability, whether from illness or accident, will strike any of us prior to age 60. The average duration of the disability is 8 months. The question we need to be asking ourselves is, ‘Can we afford to be off work for that length of time without a paycheck’? If you answer no to this question, you may want to investigate the coverage.

Another form of disability protection is called Critical Illness. This product pays a lump sum of cash in the event you develop a covered condition. Heart attach, stroke, cancer, paralysis are examples of the 18-23 covered conditions.

Both products will give a refund of premium if are claim free. This makes the cost of these insurance products equal to the interest you might earn if the money was invested.

Feel free to contact me for more information or a quote.

Life insurance takes on 2 basic forms. Term which has in most cases has an increasing premium, most commonly the premium will increase every 10 years, and permanent with a level for life premium. The 3 most common forms of permanent insurance are; whole life, universal life and term to 100.

There are advantages and disadvantages to any insurance. The most important factor is that understand what you have and how it enhances your financial plan.

Changes in the global investment market, insurance industry and the tax act occur on a daily basis. As a professional I make a point of staying up to date with these changes.

Companies are merging or being absorbed. As an independent broker I shop the market for my clients to find the best pricing with the best companies. There is no cost for this service.

Opportunities exist to dramatically save on the cost of insurances, as well as eliminate the effect of taxes on your investments and your estate! The key is knowing where they are, how they work and having an advisor you can trust to deliver them to you.

UL is a newer form of permanent coverage that can build cash value and has a “flexible premium” feature. This type of coverage is illustrated with guaranteed values as well as current (or assumed) interest rate values. UL is generally more expensive than term, but is generally less expensive than whole life.

Get universal life insurance, a universal life insurance quote and find out the definition of universal life insurance. A universal life insurance instant quote can be obtained online. Shop for a universal life insurance policy online.
Universal Life Insurance is a type of permanent coverage:

A universal life insurance policy is designed to cover you for your entire life on a guaranteed basis. Gone are the days when a UL policy relies upon current interest rates. Modern policies use this current interest rate to (possibly) enhance cash values.