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The Best Way to Insure Your Mortgage

If you have a mortgage it makes good sense to insure it.  Owning a debt free home is an objective of any sound financial plan.  In addition, making sure your mortgage is paid off in the event of your death will benefit your family greatly.

The question is should you purchase this coverage through your lending institution or from a life insurance company?  A good rule of thumb to follow when searching for advice?  Ask an expert! Read more


The Estate Bond

Growing your estate without undue market risk and taxes

Often we see older investors shift gears near retirement and beyond.  Many become risk adverse and move their assets into fixed income type investments.  Unfortunately this often results in the assets being exposed to higher rates of income tax and lower rates of return – never a good combination.

Or maybe the older investor cannot fully enjoy their retirement years for fear of spending their children’s inheritance.

The Estate Bond financial planning strategy presents a solution to both of these problems. Read more

at the meeting

The Corporate Extraction Strategy

Transferring a Life Insurance Policy to a Corporation

The Corporate Extraction Strategy involves transferring a personally owned life insurance policy to a corporation for its fair market value (FMV).  When handled properly, it will result in withdrawing capital from the corporation tax free!

The preferred candidates for this strategy:

  • Own a life insurance policy that they wish to maintain;
  • Own all the shares in a corporation;
  • Are usually older and/or would be rated or declined for life insurance due to health concerns. Read more

Estate Planning for Blended Families

 Avoid Disinheriting Your Children

In today’s family it is not unusual for spouses to enter the marriage with children from previous relationships.   Parents work hard at getting these children to functionally blend together to create a happy family environment.  Often overlooked is what happens on the death of one of the parents. In most cases special consideration for estate planning is needed to avoid relationship loss and possibly legal action.

Typically spouses leave everything to each other and when the surviving spouse dies, the remainder is divided amongst the children.  The problem? Even with the best of intentions, there is no guarantee that the surviving spouse will not remarry and inadvertently disinherit the deceased’s children. Read more


Group Insurance – Only Part of the Solution

Ownership of individual life insurance at its lowest level in 30 years

The Life Insurance and Market Research Association (LIMRA) 2013 study shines a light on a developing problem for Canadian households:

  • Individual ownership of Life Insurance was at its lowest level in 30 years;
  • 3 in 10 households did not have individual life insurance at all;

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What stops small businesses from offering benefits?

well-designed group benefits plan can be critical to attracting and retaining the right talent, as well as keeping employees healthy and productive at work.

But for small employers, offering a benefits plan is easier said than done.

While many small business owners want to provide their employees with some degree of coverage, obstacles stand in the way. As a result, many of the almost eight million Canadians who work at a small business are left without coverage, according to 2013 government stats. Read more »


Start a family conversation about elder care

BY David Wm. Brown and Sarah Brown

Starting a conversation about someone’s age is a sure way to be the least popular person in the room. But while this is a no-go territory for cocktail party chatter, it’s a conversation you need to have with your parents.

Statistics Canada tells us that in 2007, people aged 45 to 64 paid for 75% of elder care. And now, a new generation is realizing that when their parents need long-term care, they’ll be called upon to fund it.

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