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Don’t Wait Too Long to Convert Your Term Insurance – August 2014

If you require permanent life insurance coverage for family, estate planning, business, or tax planning purposes or you just wish to accumulate money in your life insurance program it may be time to look at a permanent, level cost solution.

Many of us purchase large amounts of low cost term insurance to cover our needs while we are raising our families or growing our businesses.  However, as the saying goes, “there is no free lunch”.  Eventually this low cost term insurance starts to become expensive and other options should be considered.  If you are unable to qualify for a new permanent insurance policy don’t worry, your safety net is the conversion option in your existing policy.


  • A change in your health you are no longer able to qualify for life insurance or you have received a sub-standard rating.  

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Retirement Planning Tips – July 2014

Whether you are decades away from retirement or if it is just around the corner, being aware of the planning opportunities will take the fear and uncertainty out of this major life event.

The Big Question – How much will I Need to Retire?

Recent studies reported in Canadian Business (May 2012) suggest that middle and upper middle class couples spend approximately $50,000 to $60,000 per year in retirement.  If this seems a lot lower than what you and your spouse are spending now, it probably is.  That is because most retirees no longer have the same level of expenses around housing – education and raising a family.

The average age for retirement in Canada for males is age 62 (females, age 61).  At that age, normal life expectancy is another 22 years.  Many financial advisors use a rule of thumb that says you will need a nest egg of approximately 25 times your post-retirement spending. Read more


How To Be A Smarter Investor – June 2014

While we’ve enjoyed several years of equity markets rebounding from the lows after the financial crisis, before we start to get too complacent, it is a good time to review and consider what it means to be a smart investor.  If the past has taught us anything, it is that in times of choppy or declining financial markets, rational and savvy investment decisions often get lost in the fear and panic of the moment.   Following these few key points can help you avoid making poor investment decisions and become a smarter investor.

  • Know Your Risk Tolerance: Prior to making any investment, you should know how much risk you are prepared to accept.  All investments carry some type of risk.  If making a specific investment makes you significantly uncomfortable, or keeps you up at night, then you probably need to rethink it.   Anything that has the potential to increase considerably, also carries the same potential to decrease significantly.  If this happened, would it seriously jeopardize your financial plans?  Read more

The Corporate Extraction Strategy – May 2014

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

Critical Illness – Are you Protected? April 2014

We all face many risks – contracting a critical Illness is one of them. Being diagnosed with a life threatening illness is not something anyone wants to contemplate; however, you can purchase critical illness insurance to protect against the financial impact.
The Back Story
Critical illness insurance was invented by Dr. Marius Barnard. Marius assisted his brother Dr. Christiaan Barnard in performing the first successful heart transplant in 1967 in South Africa. Through his years of experience with cardiac patients, Marius observed that patients with minimal financial stress, recovered more often and much quicker than those with financial hardship. He came to the conclusion that he, as a physician, could heal people, but only insurance companies could provide the necessary funds to create the environment that best promoted healing. As a result, he worked with South African insurance companies to issue the first critical illness policy in 1983.

Medical practitioners today will confirm what Dr. Barnard observed – the lower your stress levels the better the chances for your recovery. Read more

« 'Nothing great was ever achieved without enthusiasm.' ~ Ralph Waldo Emerson »     ...     « 'Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.' ~ Albert Schweitzer »     ...     « 'Nothing great was ever achieved without enthusiasm.' ~ Ralph Waldo Emerson »     ...     « 'Strive not to be a success, but rather of value.' - Albert Einstein »     ...     « 'Faith is taking the first step, even when you can't see the whole staircase.' ~ Martin Luther King »     ...     « 'Today's preparation determines tomorrow's achievement.' ~ Unknown »     ...     « 'Press on, nothing in the world can take the place of persistence.' ~ Ray Kroc »     ...     « 'Patience is the companion of wisdom' - Saint Augustine »     ...     « 'Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop questioning.' ~ Albert Einstein »     ...     « 'The question isn't at what age I want to retire, it's at what income.' ~George Foreman »     ...     « 'Nothing great was ever achieved without enthusiasm.' ~ Ralph Waldo Emerson »     ...     « 'The last of human freedoms is to choose one's attitude in any given set of circumstances.' - Viktor Frankl »     ...     « 'The last of human freedoms is to choose one's attitude in any given set of circumstances.' - Viktor Frankl »     ...     « 'Some people dream of success... while others wake up and work hard at it.' -Author Unknown »     ...     « 'You can succeed best and quickest by helping others to succeed.' - Napoleon Hill »     ...     « Hold yourself responsible for a higher standard than anybody else expects of you. - Henry Ward Beecher »     ...     « 'We are made strong by the difficulties we face, not by those we evade.' - Anonymous »     ...     « 'Remember, happiness doesn't depend upon who you are or what you have; it depends solely upon what you think.' - Dale Carnegie »     ...     « 'You may never know what results come from your action. But if you do nothing, there will be no result.' – Mahatma Gandhi »     ...     « 'Do you value life? Then waste not time, for that is the stuff of which life is made.' - Benjamin Franklin »     ...     « 'Life is simple but we insist on making it complicated.' – Confucius »     ...     « 'Our mortality gives life a sense of urgency' - John Izzo »     ...     « 'The question isn't at what age I want to retire, it's at what income.' ~George Foreman »     ...     « 'Either you run the day or the day runs you.' – Jim Rohn »     ...     « 'Life is the sum of all your choices' - Albert Camus »     ...     « “I’m more concerned about the return of my money than with the return on my money” – Will Rogers »     ...     « 'Most people are so busy knocking themselves out trying to do everything they think they should do, they never get around to do what they want to do.' – Kathleen Winsor »     ...     « 'Man must go back to nature for information.' – Thomas Paine »     ...     « 'When you have brought up kids, there are memories you store directly in your tear ducts.' – Robert Brault »     ...     « 'Challenges make life interesting, however, overcoming them is what makes life meaningful'. – Mark Twain »     ...     « 'Fear eats away love!' – Author Unknown »     ...     « 'Adolescence is perhaps nature’s way of preparing parents to welcome the empty nest.' – Karen Savage and Patricia Adams, The Good Stepmother »     ...     « ' You are as young as your faith, as old as your doubt; as young as your self-confidence, as old as your fear; as young as your hope, as old as your despair.' – Douglas MacArthur »     ...     « 'All truths are easy to understand once they are discovered; the point is to discover them.' – Galileo »



Make Sure Your Will is Crystal Clear

By Elaine Blades

Having a well-drafted will that clearly expresses your intentions is essential.

If you’ve written instructions someone will find confusing, they can’t ask you for clarification. It’ll be too late.

I’ve reviewed far too many wills where not enough was said to truly reflect the testator’s intentions. For instance, say your will has the following clause:

To pay $10,000 to each of my sister Elizabeth and my friend Catherine.

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Co-ordinate Your Health-Care Plans and Save

by Susan Yellin,

Do you and your spouse or partner each have a health-care benefits plan at work? Here’s how to make the most of them.

Whether it’s the traditional two-parent family or the more modern blended household, working couples are increasingly likely to have access to more than one health and dental plan.

The plans may differ in exactly what and how much they cover, but if you co-ordinate your benefits, you can take advantage of both and potentially get back 100% of your out-of-pocket health-care expenses. Read more »