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Category: Life Insurance

Succession Planning for Business Owners

June 3, 2024Blog, Business Owners, Estate Planning, Family, Life Insurancebusiness owners, estate planning, life insuranceAbility Private Wealth

Business owners deal with a unique set of challenges. One of these challenges includes succession planning. A succession plan is the process of the transfer of ownership, management and interest of a business. When should a business owner have a succession plan? A succession plan is required through the survival, growth and maturity stage of a business. All business owners, partners and shareholders should have a plan in place during these business stages.

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How To Use Insurance To Provide Your Family With Financial Protection

April 1, 2024Blog, Life InsuranceAbility Private Wealth

The best way to provide your family with financial protection is with solid insurance planning. These three types of insurance will ensure your family has the financial resources they need if you die, are injured, or become ill:

– Life insurance.
– Critical illness insurance.
– Disability insurance.

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How To Use Insurance To Provide Your Family With Financial Protection

April 1, 2023Blog, Life InsuranceAbility Private Wealth

The best way to provide your family with financial protection is with solid insurance planning. These three types of insurance will ensure your family has the financial resources they need if you die, are injured, or become ill:

– Life insurance.
– Critical illness insurance.
– Disability insurance.

Read More

Insurance Planning for Incorporated Professionals

November 1, 2022Blog, Buy Sell, Critical Illness Insurance, Disability Insurance, Group Benefits, health benefits, incorporated professionals, Insurance, Life Insurance, Travel InsuranceAbility Private Wealth

For incorporated professionals, making sure your business is financially protected can be overwhelming. Incorporated Professionals face a unique set of challenges when it comes to managing risk. Insurance can play an important role.

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Permanent versus Term Life Insurance – What are the Differences?

June 2, 2022Blog, Life InsuranceAbility Private Wealth

You know you need life insurance – but you’re not sure which kind is best for you. There are two main kinds of life insurance:
• Permanent, which lasts for your entire life. Premiums can be more expensive, but you can also use the policy to build up cash value.
• Term, which is only good for a set amount of time. Premiums are less expensive, and you cannot build up cash value – but coverage is easy to get and understand.
We can help you determine which type of insurance is best for you and how much it will cost you.

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Estate Planning for Business Owners

April 1, 2022Blog, Business Owners, Estate Planning, Family, Life Insurancebusiness owners, estate planning, life insuranceAbility Private Wealth

What happens when the children grow up and they are no longer dependent on their parents? What happens to your other “baby”- the business? Estate planning for business owners deals with the personal and business assets.

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Why Should I Review My Life Insurance?

October 1, 2021Blog, Life InsuranceAbility Private Wealth

It’s important to review your life insurance regularly to ensure your policy is up-to-date and see if you require any coverage changes. Here are some reasons you may need to update your life insurance:
• You’ve gotten married or divorced or had a baby.
• You’ve changed jobs.
• You’ve taken on some debt.
• You’re supporting additional family members.
• You’ve bought a new home.
• A loved one has a change in their health.

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Saving for Education

September 1, 2021Blog, Debt, Family, Life InsuranceAbility Private Wealth

Post-secondary education can be expensive, however having the opportunity to plan for it helps with making sure that you’re capable to meet the costs of education.

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Life Insurance after 60- is it necessary?

August 1, 2021Blog, Insurance, Life InsuranceAbility Private Wealth

You may have had life insurance for as long as you can remember. You knew it was important to make sure that your family would be taken care of and be able to pay their bills if anything happened to you.

But now that you’re over 60, your children are grown, and your mortgage is paid off, you may feel you don’t need life insurance anymore. However, there are some circumstances under which it may still make sense for you to have life insurance:

• You still have substantial debt.
• You have dependent children or grandchildren.
• You want to be able to leave a financial legacy.

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Group Insurance vs Individual Life Insurance

March 2, 2021Blog, Group Benefits, Life InsuranceAbility Private Wealth

While it’s great to have group coverage from your employer or association, in most cases, people don’t understand the that there are important differences when it comes to group life insurance vs. self owned life insurance.

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Contact Us

Derrick Lee-Shanok

derrick@abilitypcg.com

margareth@abilitypcg.com

416-875-1836

1-877-940-7377

416-860-7550

1500 Don Mills Rd. Suite 400 Toronto, ON M3B 3K4



Recent Articles

  • TFSA vs RRSP 2025
  • How Tariffs Affect Your Wallet: A Canadian Perspective on the US–Canada Trade War
  • 2025 Financial Calendar
  • 2024 Year-End Tax Tips and Strategies for Business Owners
  • 2024 Personal Year End Tax Tips

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We believe in empowering our clients to participate in the creation and maintenance of their overall financial well being through proper education and ensuring an understanding of the possible outcomes involved in each decision.

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