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Critical Illness – Are You Protected?

Critical Illness – Are You Protected?

[:en]Why a Doctor Invented Critical Illness Insurance Critical Illness insurance was invented by Dr. Marius Barnard.   Marius assisted his brother Dr. Christiaan Barnard in performing the first successful heart transplant in 1967 in South Africa. Through his years of dealing with cardiac patients, Marius observed that those patients that were better able to deal with the financial stress of their…

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What the Wealthy Know about Life Insurance

What the Wealthy Know about Life Insurance

If you have ever thought that life insurance was something you wouldn’t need after you reached a certain level of financial security, you might be interested in knowing why many wealthy individuals still carry large amounts of insurance. Consider the following: A life insurance advisor in California recently placed a $201 million dollar life insurance policy on the life of…

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Canada Pension Plan – Should You Take it Early?

Canada Pension Plan – Should You Take it Early?

[:en]The new rules governing CPP were introduced in 2012 and they take full effect in 2016. The earliest you can take your CPP Pension is age 60, the latest is 70. The standard question regarding CPP remains the same – should I take it early or wait? While you can elect to start receiving CPP at age 60, the discount…

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Boomer + Sandwich Generation + Club Sandwich + Boomerang = Financial Instability

Boomer + Sandwich Generation + Club Sandwich + Boomerang = Financial Instability

[:en]The Sandwich Generation was a term coined by Dorothy Miller in 1981 to describe adult children who were “sandwiched” between their aging parents and their own maturing children. There is even a term for those of us who are in our 50’s or 60’s with elderly parents, adult children and grandchildren – the Club Sandwich.  More recently, the Boomerang Generation…

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The Corporate Estate Transfer

The Corporate Estate Transfer

[:en]If you are the owner of a successful company it is likely that you have retained profits or surplus cash in your corporation. If this is the case, chances are also good that this invested surplus is exposed to a high rate of corporate income tax. If this describes your company then you may be a candidate for the Corporate…

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What is Key Person Insurance?

What is Key Person Insurance?

Most business owners understand that assets vital to the success of the enterprise should be insured. Premises are routinely covered for fire and/or theft; vehicles used to make deliveries, insured; machinery needed for manufacturing, also insured. Given that these tangible assets are instrumental in the success of the business, it makes good business sense that the business is protected in…

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Changes to the Taxation of Estates

Changes to the Taxation of Estates

[:en]Estate, trust and tax planners have long favoured testamentary trusts as vehicles to pass along assets to beneficiaries or heirs.   A testamentary trust is generally a trust or estate that is created the day a person dies. Commonly, these trusts are established in a testator’s will. A significant benefit to testamentary trusts had been that income earned and retained in…

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The Clock is Ticking! – Don’t Put Off Your Decision to Buy Life Insurance

The Clock is Ticking! – Don’t Put Off Your Decision to Buy Life Insurance

Don’t Put Off Your Decision to Buy Life Insurance 2016 is an opportune year to buy life insurance. New laws affecting the taxation of life insurance come into effect on January 1, 2017. After this date new policies will not perform as well as they do currently. The good news is that the proceeds of life insurance policies paid at…

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Don’t Wait Too Long To Convert Your Term Insurance

Don’t Wait Too Long To Convert Your Term Insurance

[:en] If you require permanent life insurance coverage for family, estate planning, business, or tax planning purposes or you just wish to accumulate money in your life insurance program it may be time to look at a permanent, level cost solution. Many of us purchase large amounts of low cost term insurance to cover our needs while we are raising…

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Taxation of Life Insurance – New Rules Offer a Window of Opportunity

Taxation of Life Insurance – New Rules Offer a Window of Opportunity

[:en]Permanent life insurance, such as Whole Life or Universal Life, has long been accepted as a tax efficient way of accumulating cash for future needs. Soon the amount of funds that can be tax sheltered within a life insurance policy will be reduced by new tax rules which take effect January 1, 2017. These changes may make 2016 the best…

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