Do you have clients looking to make the most of their savings in retirement with their married or common-law spouse? The trick here is not knowing to save, but knowing how to save. Which accounts make sense?
What is the better long-term tactic for your client, TFSA or RRSP? Well, unfortunately, like all things in life, it’s not quite that simple.
Underwriting for older lives remains a challenge and cognitive decline is the hardship most often seen among our aging population and client base. Asking the right questions and looking at emerging data continue to be underwriting cornerstones.
Alcohol use varies greatly among insurance applicants as does the impact on health and mortality. In North America, almost 100,000 deaths annually are attributed to alcohol and the cost is in excess of $250 billion*. How much is too much is a perennial question and current thinking pegs healthy drinking at less than 14 drinks per week and less than 4 drinks in a single day. For women and adults 65 and older, 7 drinks per week and no more than 3 a day are recommended.
Do you have clients who are business owners yet don’t have the right insurance plan in place because they are so focused on trying to build their business? They may not be aware that business insurance can help mitigate risks and provide opportunity when it comes to growing their business.
In May 2017, the Canadian parliament passed the Genetic Non-Discrimination Act (GNA) – formerly known as Bill S-201 – that precludes, under certain conditions, the insurance industry’s ability to use genetic tests for underwriting. The GNA, an Act to prohibit and prevent discrimination, states that genetic test information can no longer be requested or used in rendering underwriting decisions.
What is PPI Valet?
- At its core, PPI Valet connects you to a robo-advisor service that you can offer your clients
- Powered by WealthBar, PPI Valet is an advisor platform that helps you provide your clients with easy to access, low cost, professionally managed investment portfolios
As a business owner, insurance can provide not only protection, but also opportunity when it comes to growing one’s business. Life insurance policies can protect shareholders and their family members, the corporation itself, and key persons to the business. And, it can also enhance the cash flow to the corporation by assigning the policy as collateral for a loan.
As an advisor who runs your own practice, you are likely aware of how this works. But do your clients who are business owners need a little help in learning more about their options? Do they have a shareholders’ agreement, key person insurance, or understand how corporate insurance can be used tax effectively to benefit a charity?
Here’s a client article that helps explain how business owners can utilize insurance to provide both opportunity and security while building their assets in a tax-effective way for their retirement or estate plan.
If your clients are uncertain on whether joint life coverage is right for them and their spouse, highlight the following benefits for them:
- The cost of insurance used at the time of issue will be lower than the single life cost currently charged and is fully guaranteed
- The tax free death benefit receipt coincides to the payment of taxes on the death of the surviving spouse
- It can help achieve intergenerational wealth transfer, charitable giving and legacy planning
Read the article below that explains this in more detail and share it with your client from thelinkbetween.ca, our client-friendly insurance blog.
Segregated Funds have been around for over 50 years yet many Canadians have never heard of them. As their advisor, you can help your clients understand more about them so they can explore all their options and achieve the right balance for their retirement.
Share the short client article below and educational video that explains what segregated funds are and provides examples of two portfolios in a bull market and a down market.
Contact your client today to help them achieve that peace of mind.