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Phone (204) 414-9173
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•Replace lost income for the surviving spouse and dependent children
•Provide education funding for children
•Provide retirement funding for surviving spouse
•Provide a charitable testamentary gift
In addition to meeting personal planning needs, life insurance can also play a large role in addressing investment challenges, risk management, and succession planning for small businesses, such as:
•Provide required funding to support buy-sell provisions between business owners
•Provide a mechanism for tax-sheltered investment growth within the corporation
•Provide funding to allow for a smooth succession at the business owner's death
Disability coverage is meant to replace the earned income that is lost when illness or accident causes a prolonged disability for an income-earner. It is often a neglected personal insurance need, yet it is a crucial part of overall risk management planning for most individuals. Businesses may also suffer a loss due to the long-term disability of a key employee.
A wide range of disability plans are available, and can be custom-designed to meet a variety of protection needs.
Critical Illness insurance provides a one-time lump-sum cash payment if the insured is diagnosed with a life-threatening illness (more than 22 illnesses are typically covered, including cancer, kidney failure, Alzheimer's, heart attack, stroke, etc.). At a time when financial resources may be stretched to the limit, a lump-sum cash payment is welcome. These funds may be used by the insured in any manner desired, such as facilitating day-to-day living, purchasing specialized equipment such as a wheel-chair accessible vehicle, funding private health care - or taking a family vacation to re-energize spirits.
Long-term care insurance provides a regular cash benefit to assist with the costs of long-term medical care (either in a facility or at home). This type of plan may be an ideal solution for those who are concerned about relying on family members to provide care, or to ensure that you can pay for the care at the facility of your choice, or to preserve assets and/or income from provincial authorities, should the insured enter a facility for care.
Usually, when someone enjoys extended health benefits, the coverage is provided (and the premium is either fully - or partially - funded) by their employer. However, retirees and self-employed individuals are often left without this coverage.
Hargrave Financial Group offers universal and extended health care plans through several insurance providers. Coverage for vision care, prescriptions, orthodontics, out-of-province travel and other qualifying medical expenses are available to individuals and their families. Corporate plans are also available.
•Eliminate tax liabilities triggered at death
•Pay off mortgages and other debts
•Cover last expenses and immediately provide cash for surviving family members
In its simplest form, life insurance is meant to provide safety and security for the ones we love. This type of insurance is commonly used to: