Insurance

Forget what you know, or what you think you know, about insurance. Learn the truth about insurance and its role in your financial plan.

Life insurance is used to protect the financial security of the people you love and to protect the continuation and financial security of a business.

 

A life insurance policy pays a cash benefit, tax free, to your beneficiaries when you die, this may be a spouse, parent or child.  Or if you are protecting the longevity of your business, it could be one or a number of corporations you control, or another shareholder.  The amount of money for which you are insured and the type of insurance you buy depends on your corporate needs.

 

We recommend insurance contracts with strong guaranteed features, such as:

  • Guaranteed premiums

  • Guaranteed contract provisions

  • Guaranteed rates of return on cash accumulation

 

In addition to guaranteed features, some contracts offer cash values and increasing life insurance coverage, depending on the insurance company and contract selected.

We are well equipped to discuss these and any other options with you.


Insurance is essential to any comprehensive financial plan. If tragic events like death, disability or critical illness strike, insurance can protect you and your family from undue hardship. Some life insurance policies also provide tax-advantaged savings that you can draw on to achieve goals like buying a house or retiring comfortably.

 

At Art of Planning, we have access to a variety of insurance products that can help meet your financial planning needs. No matter what your personal situation—if you’re single or in a family; a professional or a seasonal employee; an executive or small business owner—we can work together to design a customized plan.

 

  • Life Insurance

  • Disability Insurance

  • Critical Illness Insurance

  • Health & Dental Plans

  • Travel Insurance

  • ​Long Term Care Insurance 

  • ​Business & Corporate Insurance Services​

  • ​Group Health Benefits

 

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​​Life Insurance

In the event of death, life insurance offers surviving family members increased financial security. As a tax-free lump sum payment, it can pay for final expenses and debts, as well as provide income for the deceased’s dependents.

The advantages of life insurance include:

  • An instant estate for your loved ones at a time when funds are most needed

  • Death benefits that are non-taxable for named beneficiaries

  • Avoid probate costs if you name a beneficiary other than your estate

  • Build tax-advantaged capital for retirement purposes or provide liquid savings through some permanent life insurance plans

 

We can help you select coverage from a variety of life insurance options to meet the needs identified in your financial plan.

Life insurance can play a vital role in your financial security plan.

 

 

Disability Insurance

Income is important for both current financial obligations (e.g. grocery bills and mortgage payments) and for future financial security (e.g. planning for your children’s education or for retirement). Just think what might happen if you suddenly lost your income stream through a long-term illness or disability.

 

Loss of income creates a very critical situation for most people.  A long-term disability or illness is not just a remote possibility.  At any time, an accident or illness could prevent you from working for months or even years.

 

That’s where the various types of insurance coverage can help.  Disability Insurance plans provide monthly payments to replace your income if you become disabled.

 

Total or even partial loss of income can bring upon a serious financial burden, and there is a real chance you will be disabled for 90 days or longer before age.  For example, a 40 year old female has a 25% chance of being disabled for 90 days or longer before the age of 65.  Your advisor can work with you to develop a complete understanding of how these and other risk management services can fit into – and protect – your financial picture.

 

Disability insurance products help protect your ability to earn an income, which can be affected if you are afflicted by a disability or other condition.

 

Some advantages of disability insurance products are:

  • Helping maintain your financial independence, lifestyle and long-term financial security plan in the event your income is impacted by disability

  • Assist with paying fixed expenses for your business if you become disabled

  • Support the buy-out of a disabled partner’s share of a business

 

We can help you tailor your financial security plan so it protects your income through disability insurance. 

 

 

Critical Illness Insurance

Suffering a critical illness is distressing for both you and your family. Help ease the burden through insurance that will reduce financial stresses and can complement disability and life insurance protection needs. Critical Illness Insurance offers a one-time, lump-sum payout to help pay for the additional expenses often associated with an illness or condition.​  Getting sick isn’t something any of us like to think about. But it happens.  The good news is, thanks to improvements in health living and medical advances, there’s a good chance you will recover and get on with your life.  However, getting better costs money.   Despite improving survival rates, illnesses and accidents often change the way we live. On average, Canadians are expected to spend almost 10 years of their lives with at least one disability.  Recovering from or living with the effects of a life-altering illness or accident can impact your finances in many ways.

 

We can help you put a plan in place to:

  • pursue medical treatments, care and options not covered by the government or group plans

  • maintain your lifestyle

  • replace lost income

  • take care of your and your family’s future financial needs

 

We can work with you to develop a complete understanding of how these and other risk management services can fit into – and protect – your financial picture.

The advantages of critical illness insurance can include:

  • Coverage for up to 25 critical illnesses or conditions such as heart attack, cancer, stroke, alzheimer's, coma, or paralysis to name a few

  • An initial lump-sum benefit you can use however you wish—from making mortgage payments to seeking medical treatment outside Canada

  • Home-care costs during illness and recovery periods

  • Even if you’re not disabled from working, you may receive payment

  • The ability to provide a return of premium benefit (optional)

  • Individuals who cannot obtain disability insurance in some cases still qualify for critical illness coverage (e.g. a non-income earning spouse)

 

How likely is it that you might be diagnosed with a Critical Illness? Consider some of these statistics:

  • One in 4 Canadians has some form of heart disease, disease of the blood vessels, or is at risk for stroke. (Heart and Stroke Foundation of Canada)

  • Based on current incidence rates, 38% of women will develop cancer during their lifetimes. Among men, 43% will develop cancer during their lifetimes. (Canadian Cancer Society)

  • Out of every 100 people who are hospitalized for stroke, 75% survive. (Heart and Stroke Foundation of Canada)

  • Canadians have one of the highest rates of Multiple Sclerosis in the world. (Multiple Sclerosis Society of Canada)

  • Alzheimer's disease affects one in 20 Canadians over age 65. (Alzheimer Society of Canada)

 

 

Health & Dental Plans

Depending on your situation, you may or may not be covered under an employer’s group benefits plan. If not, I can help you choose a health and dental plan that can help cover out-of-pocket medical and dental expenses for you and your family. These plans are designed to provide various levels of enhanced healthcare protection, depending on your needs and the stage of life you’re in.

When designing your customize heath and dental insurance package, you can choose from an array of services.

 

Options include:

  • Prescription drugs, which many consider one of the most valuable forms of health coverage.

  • Paramedical services, ranging from the use of an ambulance to a visit with the massage therapist.

  • Vision care if you or your family members wear glasses or contact lenses.

  • Protection while on vacation or a business trip with out-of-country medical coverage.

  • Access to private or semi-private hospital rooms.

  • Dental care can include basic dental work as well as a portion of orthodontics, depending on your level of coverage.

 

 

Travel Insurance

Are you going to the USA for business for a day or two?  Maybe even doing some cross-border shopping for a few hours?  Perhaps you want to go explore the Caribbean or travel overseas.  Ensuring that you have the appropriate Travel Insurance in place can help protect you against the cost of unexpected emergencies that may occur.  These costs are only marginally covered by the provincial health insurance plan.

 

Types and amounts of coverage can vary and include options such as:

  • single-trip or multi-trip plans

  • emergency medical insurance of up to $5,000,000

  • trip cancellation and interruption insurance

  • baggage loss, damage and delay

  • Student overseas training/school (Life & Health  Insurance)

  • Visitors to the country (Life & Health  Insurance)

Quotes can be done quickly online so please contact us if you are interested in the options.

 

*** Student Travel into Canada Insurance

Travel insurance for Students offers those studying away from home a smart, economical way to protect themselves against the cost of basic healthcare needs, emergency medical expenses and more, while they are an international student studying in Canada or a full-time Canadian student studying outside their home province or outside of Canada. Family coverage is also available for those immediate family members residing with a student while they are studying abroad.

 

***Travelling Canadian Insurance

Travel insurance for travelling Canadians gives you a simple, affordable way to protect yourself against the cost of unexpected medical expenses and more, when travelling outside your home province or outside of Canada. With a variety of Single-Trip and Multi-Trip plans to choose from – each offering up to $5 million in emergency medical coverage – you can select the plan that best suits your needs, your travel plans and your budget.

 

***Visitors to Canada Insurance

Travel insurance for Visitors to Canada offers your family and friends a simple way to protect themselves against the cost of emergency medical expenses and more, while they are visiting Canada. It also meets the Super Visa insurance requirements.i Visitors have a variety of Single-Trip coverage amount options to choose from, so they can select the plan that's right for them.

 

Long Term Care Insurance

Long term care services address the health, social and personal care needs of individuals who have lost the ability to care for themselves. While a certain degree of public support is available, government programs are not comprehensive and long term care services can be costly.  There are many misconceptions about what the government provides and pays for, and what extended health care benefits cover. It’s important that you understand exactly what your benefits, through your employer, association, or the government cover, and what the limitations are.

Long term care insurance helps to give you funding and flexibility in a time when costs are increasing, and your options may be limited, meaning:

 

  • You have more choices around the kind of care and amount of care you’ll receive.

  • You are not limited to only professional care (your family, even friends can provide care for you)

  • Your savings and investments can be preserved.

  • Flexibility and choice on how you’ll spend your money

  • Peace of mind to enjoy your hard-earned money during retirement rather than saving for the possibility that you may need to cover long term care expenses

  • The quality of care you want with the dignity you deserve.

 

Business & Corporate Insurance

We are independent business owners ourselves that strategically partner with our firm so we can elevate the level of advice we give to you, the client.

 

Bringing creative solutions to the table, using insurance solutions we’re able to confidently:

  • secure funding for Buy/Sell Agreements

  • protect the value of your business in the event of the death, disability or illness of a key executive; and

  • provide liquidity and certainty in times of financial disorder.

 

Business Succession

For business owners, it is even more vital to include your advisors at the table when putting plans in place. While it’s possible to structure your own business succession plan, professional advice can be invaluable, and is essential if you anticipate that your business will have a market value exceeding the value you bring to the table.

There are many sources of objective advice to help you sort through the questions of family succession. In most cases, your best advice on family succession issues will come from outside of the family. Outside advisors, such as your company’s board of directors, your business’s external accountant, or your advisor at Art of Planning, can help you identify any family succession problems and help ensure that sound business decisions take priority over any personal family issues that may arise.

 

** We even offer Tenant/Business insurance though our partnership agents. ** 

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