Transferring Life Insurance – What You Need to Know!

While it’s best to avoid the need to transfer life insurance to an individual or corporation – along with the resulting tax consequences – it’s not always possible to foresee every future circumstance. There can be times when a transfer just needs to be done. Continue reading “Transferring Life Insurance – What You Need to Know!”

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What You Should Know Before You Transfer Life Insurance

When the value of your client’s business has declined, the timing may be right for an estate freeze

During these unprecedented times, the value of your client’s private corporation or other assets may have dropped 10%, 20%, 30% or more. While this result is very challenging, it may be the right time to take advantage of the lower value in order to reduce future taxes. Continue reading “When the value of your client’s business has declined, the timing may be right for an estate freeze”

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If your business value declines, there are steps you can take today to reduce taxes later

Taking Back the Remote Control

We’ve all entered a new reality in the last few weeks. Working remotely is becoming the norm rather than the exception, even if only temporarily. But what does that mean for your business? Are you set up to continue working remotely? Do you have the software and tools to maximize your productivity and effectiveness during this period?

In this article we’re going to cover some of the options available to you, and the issues you should be aware of to ensure you can continue working in a safe and effective manner.

TL:DR (Too Long, Didn’t Read)

Zoom is a very popular, inexpensive, and easy to use software to start video conferencing with your clients and coworkers. It does have some privacy concerns that you should be aware of. A number of enterprises are prohibiting the use of Zoom for their employees, for security reasons, so be aware that some of your clients may be impacted by that if you set up a Zoom meeting with them.

Microsoft 365 is a great option as well, especially for those that are already using Microsoft’s office tools. 365 comes with Teams which has much of the same functionality as Zoom plus many other great collaboration features.

If you’re interested in getting started with Microsoft 365, you can find more information about their plans here. If you don’t currently use Microsoft 365 you’ll likely want the premium plan for $16/month which includes Teams plus stand-alone downloaded versions of all of your primary office tools (Word, Excel, Power Point, etc.). If you already have a previous version of the Office suite, then you may be fine with the Essential package for $6.40/month which is limited to web versions of the office suite but still includes access to Teams. Continue reading “Taking Back the Remote Control”

Trying to Manage your Business from Home? E‑Apps Can Help!

When it comes to time, there just does not seem to be enough of it these days, especially with the current COVID-19 situation and the many adjustments we have all had to make to continue generating business. As an Advisor, you want to provide your clients with the best possible service, but like many of us, you are probably grappling with how to do so while working from home in self-isolation. The solution is simple – technology! Continue reading “Trying to Manage your Business from Home? E‑Apps Can Help!”

Bundling Insurance: A Holistic Approach to Helping Clients Manage Risk

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