Our loved ones mean the world to us and we would do absolutely anything to protect them. Life insurance is a vital tool that helps provide your family with financial security. Whether income replacement is needed for a family in the event of a spouse’s premature death, or to pay the capital gains tax on an estate, take comfort and have peace of mind to know that money will be available when it is needed the most.

• Uses for life insurance:
• Eliminate outstanding debts – mortgages, credit cards, vehicle loans, etc.
• Pay final expenses – funeral, probate
• Provide income replacement to enable your family to maintain their current lifestyle
• Pay the capital gains tax on your estate
• Leave a legacy for an organization, or charity
• Estate planning
• Protect and transfer your wealth to the next generation in a tax efficient manner

 

Advanced uses for life insurance:

• Corporate Retirement Strategy
• Fund Buy/ Sell Agreements
• Immediate Finance Agreement – Leveraged Strategy

 

Types of Life Insurance:

• Term
• Whole Life (Participating)
• Universal Life

Thoughts to consider – What do I want my life insurance to do?

• How important is it to me that my family has the ability to pay off the mortgage, car loans, credit cards  and credit lines in the event that I pass away prematurely?
• How important is it that my family is able to maintain their current lifestyle should I pass away prematurely?
• Do I want to ensure there is money provided to my family to pay for my final expenses – funeral, probate fees, etc.?
• How important is it to me to maximize and protect the value of my estate that is transferred to my heirs?
• Do I want to leave a legacy to an organization, or charity?