HEALTH, DISABILITY & LIFE INSURANCE
It is too late to protect your family after an unfortunate event has occurred.
DON’T WORRY, YOU’RE NOT ALONE.
It’s About Keeping Your Dreams Alive
There are many risks we face that can have an adverse impact on our ability to accumulate, preserve and eventually distribute our wealth. The focus of The Family Protection Net is to identify and manage the financial risks that you, your family and/or business may face. Death, disability, illness can have devastating effects on your family’s financial future and ultimately peace of mind.
Although it is difficult to eliminate all risks, there are things that can be done to minimize their financial consequences. With insurance planning as part of your wealth management strategy, you can manage risk at every stage of your personal and professional life to help strengthen and safeguard your family’s financial security.
STRENGTHEN YOUR FAMILY PROTECTION NET
The Family Protection Net process systematically assesses your personal risk exposure, current protection and resources through:
Ensuring that you are meeting your obligations and goals by providing core basic life and disability coverage.
Exposing excesses and shortfalls within existing coverage.
Protecting your income and future lifestyle choices against other perils.
Assessing the cost/benefit of the options available.
What would happen to your loved ones if you passed away? How would their quality of life change? How would bills and other debts get paid?
These are the important questions to ask when contemplating life insurance coverage. Too often we see clients making life insurance decisions based on one question: “How much is the premium?”
The Family Protection Net begins with a thorough needs analysis to determine your family’s financial state upon your death. We may conclude that there is room for additional insurance to cover an unforeseen shortfall. We may uncover that your existing life insurance coverage is excessive, providing an opportunity for a reduction in benefit and premium.
What would happen if you were injured or became ill and could not return to work? What if your income suddenly stopped?
Many employers provide group disability insurance coverage. Often times this group coverage is not sufficient to maintain the family’s existing lifestyle. For self-employed individuals, few group disability plans are offered. Private disability insurance can complement insufficient group coverage and provide coverage for self-employed persons.
Advances in medical science and increasing life expectancies mean you have a better chance of surviving a critical illness. Although you may be seriously ill, you may not be considered disabled. A critical illness often brings overwhelming medical and financial burdens on you and your family when your focus should be on getting better.
Critical Illness Insurance pays you a lump-sum benefit, which is usually payable 30 days after the diagnosis of a covered critical illness.
The ability to live independently becomes increasingly more difficult in the latter stages of life. In-home and facility care could cause financial hardship if not planned for properly. The Lifetime Protection Net assesses your resources and the risks associated with providing for your future care.
Long-term care insurance generally becomes payable when the insured cannot perform two of the following activities of daily living:
- Transferring to or from a bed or a chair or wheelchair
- Maintaining continence
You may consider buying this insurance for yourself, if you want the ability to live your life comfortably while easing the financial burden on your family.
Many adult children consider buying coverage for their parents to ensure they will be well cared for. They want to spend quality time with parents and not become the caregiver.
We are pleased to offer Travel Insurance as an additional service to our clients, their friends and family.
Medical expenses incurred while traveling outside of your home province can be life-altering. For dollars a day, you can purchase peace of mind. In the unlikely event that you require emergency medical attention, your family can rest-assured that they have the financial backing of Manulife and other carriers.
Talk to us about more permanent solutions to your travel insurance needs or click here to buy your single or multi-trip policies online.
Health and Dental
With employer-sponsored health and dental plans, it is easy for us to take for granted the benefits of having some or all of our health and dental expenses subsidized. Those without these plans are responsible for paying these expenses out of pocket or obtaining private insurance plans to help cover the costs. Most insurers in Canada provide health and dental insurance plans to accommodate all levels of needs.
Contact the advisors at The Beacon Group of Assante Financial Management Ltd. to help determine the most appropriate plan for you and your family.
We can help small business owners plan for the unexpected.
Life insurance can provide cost-effective solutions for many situations that could challenge a small business, such as the loss of an owner or a key employee.
Our team includes experts in the industry to help analyze the risks that you may be exposed to and suggest workable solutions. This may include key-man insurance, employee group benefits, and taxation and liability coverage.
Employee group insurance and retirement plans are among risk management and retention tools that provide protection to those who have helped you build your fortune.