Life Insurance
Term Insurance
Term insurance is life insurance coverage for a specified period of time. It is meant to cover a short term need and can be converted to a personal life program when your needs changed. This type of life insurance is usually the least expensive form of life coverage, at least initially. After the initial term period of years (usually 10 years) the policy could terminate or it can renew at a higher premium. A renewable term life policy will permit you to renew it at a higher premium.
Looking for a more cost-effective policy that will give you peace of mind. Let’s talk
Permanent Insurance
Permanent life insurance has a death benefit similar to a term life insurance plan, but has the added appeal of giving you tax-exempt savings. Permanent life policies can be paid on a whole life basis or 10, 15 or 20 year pay periods. While the premiums for setting up the policy are higher than a term insurance policy, the benefits can be quite attractive; the tax advantages can make a permanent life policy a valuable investment over a long period of time. It can also provide you tax free retirement income.
Permanent insurance is definitely an option worth investigating, especially if you are looking for affordable and secure methods of tax and estate planning. Let’s talk
Universal Life Insurance
Universal life insurance is a hybrid. Universal life policies combine term and permanent insurance to offer you flexible premiums and a flexible death benefit. The premiums you pay are deposited into a tax-exempt account that accumulates at a guaranteed minimum rate of interest. Your account could also accumulate at a higher rate if you participate in segregated market rate funds.
Another benefit of this type of plan is that you can use the money in your account value for emergencies if you have the funds available.
Many find this type of policy appealing because it allows you to access to your account value. If flexibility in a permanent protection is what you are looking for, then Universal Life Insurance may be a great solution for you! Let’s talk
Mortgage Insurance
This type of coverage can give homeowners real peace of mind. In the event that you are not able to continue paying your mortgage, due to death, the lump sum will be paid tax free to the survivor and beneficiary of the policy.
Note that bank mortgage insurance does not pay to you. It may or may not pay the bank or lender. (see article re bank mpp) http://www.cbc.ca/marketplace/in_denial/
Need some peace of mind? Let’s talk
Partnership & Buy/Sell Funding
When a partner in a business dies, protecting the business is of utmost importance to the remaining partners. It's important to have a plan to continue the business without interruption.
A Buy-Sell agreement ensures that business flows seamlessly to buy a deceased partner's shares from the heirs. Life insurance is the best vehicle to fund this purchase of those shares.
Haven’t yet addressed this issue with your business partner(s)? Let’s talk
Key Person Insurance
What impact would it have on your company if one of your key employees was suddenly no longer able to work? Sudden illness, injury or death – these types of incidents happen without warning and could have devastating effects on your organization: Would you have the financial reserves available to secure a qualified replacement or a temporary person? Would shareholders and/or lenders react negatively to the sudden exit of this key person? Would the sudden deficit of this person negatively impact your company’s sales, or other revenues?
We will work with you to structure coverage for your company. You could rest a little easier knowing that, in the event you loose a key member of your team, your company would receive a lump sum, or monthly benefit payment that would help offset the financial burdens from ongoing expenses while you fill the vacancy or compensate your company for possible loss of new and existing business.
Want to better protect your business in these challenging times? Let’s talk
Split Dollar Plans
Charitable Planned Giving Programs
A Charitable Planned Giving Program facilitates your ability to give gifts to the charities that are important to you while trying to maximize tax incentives.
RE Financial will work with you to chart a customized plan that will allow you to strategically address your estate planning while simultaneously meeting your philanthropic goals.
This option is not simply for the wealthy. Even if you have average financial resources, it could be possible for you to arrange larger gifts than you ever thought possible as a legacy in your community, while also accounting for your unique personal and estate situation.
Would like to explore how you can leave a lasting legacy to the people and communities that matter to you? Let’s talk
