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LIFE INSURANCE
Discussing this subject with clients requires a delicate
approach and involves long term thinking, planning and commitment.
Ask us about:
Whole Life - permanent insurance
coverage which usually pays dividends to the policy holder.
An older style insurance policy which is not purchased much
anymore. Universal Life - permanent insurance which has virtually
replaced the whole life policy because it is more flexible,
has life protection component along with an investment component
which grows tax-free making the Universal Life policy one
of the last tax shelters left.
Term Insurance - low cost
form of insurance initially becoming more expensive as the
policy gets older. Can be converted to permanent insurance
such as Universal Life or Term to 100. Comes in 1, 5, 10,
15, 20 and 30 year periods, or to age 100.
Disability Insurance - this
insurance provides a monthly income should the policy holder
become disabled through injury or sickness. The disability
usually has to be permanent or severely debilitating to the
policy holder. Good for self-employed and business owners
as well as salaried workers.
Critical Illness - a new
insurance concept where the policy holder is paid a lump sum
(face amount) if they contact one of 20 critical illnesses
which can be used for medical services or other needs at the
insureds' discretion.
Group Benefits - group insurance
which covers life, dental, extended health, critical illness,
etc. for individuals or employee groups.
RRSP - registered savings
plans to help defer taxes and to provide for retirement income.
RRIF - registered income fund which provides monthly or annual
income from a RRSP
Segregated Funds - a mutual
fund with an "insurance wrapper" around it which
provides a maturity & death benefit guarantee to the investment.
Good for professionals & business owners since it provides
creditor protection..
Annuities - can be used for
registered or non-registered money. An annuity provides a
monthly income flow with certain tax advantages to usually
retired people looking for a guaranteed monthly income.
Accident & Health Insurance
- provides individual coverage for personal health coverage
against sickness & injury
For more information, simply contact Rhys
Jones at Hodges & Jones Tel:(250) 383.3634.
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