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Insurance FAQs

1. Life Insurance and YOU

Traditionally, life insurance helped to insure that your loved ones were protected against financial difficulties in the event of a premature death. Today, life insurance has evolved and is also used as a powerful investment and estate planning vehicle.

Your professional Keybase Financial Advisor knows that serving your tax and estate planning needs can be a real challenge and that, insurance planning should be an integral part of the overall financial plan.

Insurance can help you to achieve your financial goals and objectives despite the recent mitigating events. Life Insurance can help you and your loved ones to achieve financial security. Your greatest economic asset is achieving your lifetime earnings. This asset is subject to the risk of loss should you endure a critical illness, disability or die prematurely.

Insurance is a prudent risk management technique to cover investment circumstances.

2. What is the Importance of Critical Illness Coverage?

Many Canadians are not aware of this new kind of policy to cover the risk of Critical Illness. "It won't happen to me" you say? Hopefully not, but did you know:

  • One in two Canadians will contract heart disease and half of the heart attack victims are under 65?
  • One in three Canadians will develop some form of life-threatening cancer?
  • 40,000 to 50,000 strokes are reported in Canada annually?

Some critical illness policies give you the ability to pay off your mortgage if you become critically ill. Like many people, your mortgage is probably your longest financial obligation.

3. How Much Life Insurance do I Need?

Many people insure their homes, cars and personal belongings but they don't like to think about what pays for these things - their ability to earn an income. It's not your life you are insuring, but your future earnings.

Your Keybase Financial Advisor can help you to determine how much coverage you need to meet your immediate obligations and how much future income your family will need to be protected in the event of death.

Ocne all of the right information is gathered, your insurance needs can be determined through our effective Insurance needs analysis methodology.

4. Why Choose Universal Life?

A Universal Life Plan combines life insurance protection with investment options in one tax efficient plan. You get both regardless of whether your main interest is in one or the other.

With the proper financial planning advice, a Universal Life Plan can often play a role in meeting estate and investment planning objectives.

The merits of using Universal Life Insurance for estate preservation and wealth accumulation with particular emphasis typically placed on the tax-effective investment opportunities coupled with the tax-free payout of death benefits to beneficiaries.

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