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If you have a mortgage it makes good sense to insure it. Â Owning a debt free home is an objective of any sound financial plan. In addition, making sure your mortgage is paid off in the event of your death
will benefit your family greatly. Â Â The question is should you purchase this coverage through your lending institution or from a life insurance company? Â A good rule of thumb to follow when searching for advice? Â Ask an expert! So, while it might be convenient when completing the paper work for your new mortgage to just sign one more form, be aware that it might be a costly decision. 8 reasons to purchase your mortgage coverage from a life insurance advisor Cost Term life insurance available from a competitive life insurance company is usually cheaper...
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Avoid Disinheriting Your Children In today’s family it is not unusual for spouses to enter the marriage with children from previous relationships. Parents work hard at getting these children to
functionally blend together to create a happy family environment. Often overlooked is what happens on the death of one of the parents. In most cases special consideration for estate planning is needed to avoid relationship loss and possibly legal action.  Typically spouses leave everything to each other and when the surviving spouse dies, the remainder is divided amongst the children. The problem? Even with the best of intentions, there is no guarantee that the surviving spouse will not remarry and inadvertently disinherit the deceased’s children.  6 Estate...
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Why a Doctor Invented Critical Illness InsuranceCritical 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 dealing with cardiac patients, Marius observed that those patients that were better able to deal with the financial stress of their illness recovered more often and at much faster rate than those for whom money was an issue. 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...
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Owners of very successful private corporations are well aware of the importance of cash flow. Many are protective of how they allocate corporate capital so that business ventures are adequately funded and
investment opportunities are not missed.  The Immediate Financing Arrangement offers an opportunity to provide life insurance coverage and accumulate wealth on a tax-advantaged basis without impairing corporate cash flow. What is an Immediate Financing Arrangement (IFA)? An IFA is a financial and estate planning strategy that: Combines permanent, cash value life insurance with a conservative leverage program allowing the dollars allocated to the life insurance premiums to do double duty by still being available for business and investment...
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Naming a beneficiary is a valuable feature of life insurance and segregated funds policies so it is important to carefully choose your beneficiaries. Estate – the default choice Many people choose to name
their “estate†as their beneficiary.  Although this is an easy short-term solution, it is important to review the risks of doing this.  If you are stuck for a significant “other†beneficiary, don’t forget to change it to a more appropriate option later.  Why? The proceeds will be subjected to probate fees and the benefits received will be co-mingled with all the other estate assets which may be exposed to various third parties.  What’s in a name? Simply naming an individual or trust as...
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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
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 lunchâ€. Eventually this low cost term insurance starts to become expensive and other options should be considered.  If your health has changed and you are no longer able to qualify for a new permanent insurance policy don’t worry, your safety net is the conversion option in your existing policy. 4 reasons to convert your coverage:...
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