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.
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.
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.
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.
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.
Before buying insurance from your bank to cover your mortgage, please consider your options. What does the insurance cover?
One of the financial planning issues that business owners face is how to access their corporate earnings in a tax efficient way. Please contact us to learn how we can get more money in your pocket than in the government’s.
For business owners, making sure your business is financially protected can be overwhelming. Business owners face a unique set of challenges when it comes to managing risk. Insurance can play an important role.
For young families, making sure your family is financially protected can be overwhelming, especially since there’s so much information floating online. This infographic addresses the importance of insurance- personal insurance.
The intention for our “Guide to Covid-19: Government Relief Programs in Canada” is to help businesses and individuals to cut through the noise and make sure they’re getting all the help they can receive from the federal and provincial programs.
Mutual funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.
