To best serve clients, you know it’s important to dig deep and understand their true needs. The Canadian Life and Health Insurance Association (CLHIA) recommends implementing a needs-based selling process for each individual client, highlighting three specific steps: collect all important information about the client, implement this data into a needs analysis program to determine their requirements and provide your professional recommendation, unique to the client’s needs (1).

When you take this holistic approach, you take into account the impact that sickness or disability could have on the lives of your clients as well as their loved ones. Your recommendations may therefore include a combination of life insurance, critical illness and disability coverage. When you find yourself recommending more than one product solution, consider combining them into one bundle.

Continue reading “Bundling Insurance: A Holistic Approach to Helping Clients Manage Risk” →

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The Complete Puzzle: The Benefits of Bundling

In previous articles, we’ve discussed corporate-owned insurance and how it can benefit your client’s business. As a whole, life insurance and especially corporately owned life insurance, can be a valuable asset. Continue reading “What to Consider When Purchasing Corporate Insurance” →

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What to Consider When Purchasing Corporate Insurance

If your client owns their own business, incorporation is a must since corporate structures have significant benefits such as limited liability, continuity of the business, easier access to capital, lower income tax rates with small business tax deductions and a potential tax deferral.

However, has your client considered corporate-owned insurance? Not to be confused with insurance purchased for the business (also a must), corporate-owned insurance is a life insurance policy purchased by the corporation on the life of a shareholder in order to protect the business in the case of the shareholder’s death. Continue reading “The Importance of Corporate Insurance for Your Client” →

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How Corporate Insurance Can Benefit your Business

The world of business can be quite unpredictable, especially if a business partner becomes ill or even dies. Continue reading “SMART TALK… about Shareholders’ Agreements” →

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Smart Talk about Shareholders' Agreements

The 2018 Federal Budget introduced new rules that can reduce the amount of the small business deduction available for active income earned in a corporation. The small business deduction is reduced by $5 for every $1 of passive income a corporation earns over $50,000 and is completely eliminated if the corporation earns over $150,000. Continue reading “Passive Investment Income Calculator” →

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Passive Investment Income Calculator

You do a great job to help your clients understand the benefits of life and critical illness insurance, save for retirement and create an emergency fund – all to ensure that their financial future is secure. However, have you discussed what is available to help them safeguard their children’s financial future as well? Continue reading “Juvenile Insurance – Why You’re Never Too Young to Secure Your Future” →

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Juvenile Insurance – Why You’re Never Too Young to Secure Your Future

It’s often said that nothing in life is certain but death and taxes. Probate fees on an estate can be added to this common saying. Probate fees are paid on the fair market value of the assets held in the deceased’s estate. While obtaining a grant of probate is not mandatory, in order for certain assets (land, financial accounts, publicly traded securities) to be transferred to beneficiaries and to protect the Executor and others from liability, most estates are probated. Continue reading “Death, Taxes and Probate Fees” →

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Death, Taxes and Probate Fees