Insurance is an often overlooked but important part of a complete Financial Plan. There are
two main purposes for including insurance in
your Financial & Estate Plans - wealth creation & wealth
preservation.
Wealth Creation
Life insurance products can be used to provide financial piece of mind in the event of a severe disability, major illness or early death.
There are insurance products available that will pay off a mortgage, provide continuous income for you or your loved ones or ensure the continuation of support
payments, in the event of death or disability.
Wealth Preservation
Insurance can be used to preserve the money you have worked so hard to create
over a lifetime, both for you and your loved ones. Annuities, in particular, are often overlooked as a source of stable retirement income.
Annuities can provide piece of mind that you won't outlive your money.
Protecting the legacy you’ve created for future generations is another important reason to look at insurance. Life insurance can be used to protect your loved ones from having to liquidate assets to pay the estate taxes on your assets such as the family cottage, art or the family business. It can be used to leave a gift to a favourite charity. Proceeds from life insurance are tax-exempt and therefore can be used to reduce the overall tax bill in the year of your death so
your beneficiaries can keep more of estate for themselves.
Segregated Funds - A Hybrid
Insurance companies are always trying to create new products to meet
the needs of investors. To meet the demand for a product that both
creates and preserves wealth, insurance companies now offer Segregated Funds
(Seg. Funds). These are essentially mutual
funds with wealth preservation components such as a guarantee of principal,
creditor protection or a death benefit. They have proven to be a
good fit for many investors.
We Can Help
The variety and complexity of insurance products may seem daunting but that’s why we are here to help.
ScotiaMcLeod offers a full array of insurance products to meet your financial
goals. We can help you assess your insurance needs and shop the market to get you the best combination of features and
price for your individual situation.
Contact your ScotiaMcLeod Wealth Advisor
for a review of insurance needs.
More on Life Insurance
Insurance
Which Type of Insurance is Best for You?
(.pdf
97k)
Integrating Insurance into Your Financial
Plan (.pdf 222k)
Insure a Fresh Start
(.pdf 144k)
Life Changes – So Should Your Insurance
(.pdf 93k)
Critical Illness Insurance
(.pdf 132k)
More on Estate Planning
Planned Giving Handbook
(.pdf 170k)
Reflecting on your Cottage
(.pdf 91k)
More on Annuities
Insured annuities
Insured annuities
Manulife
website
Standard Life website
More on Segregated Funds
Canada Life
website
Maritime Life
website
CI
Funds website
Morningstar.ca Report on Seg
Funds Apr/03
Standard Life website
 TM
Trademark used under authorization and control of The Bank of Nova Scotia. All
insurance products are sold through ScotiaMcLeod Financial Services (Ontario)
Inc. ScotiaMcLeod Financial Services (Ontario) Inc. is an insurance subsidiary
of Scotia Capital Inc., a member of the Scotiabank Group. When discussing Life
Insurance Products, ScotiaMcLeod Wealth Advisors are acting as Life
Underwriters representing ScotiaMcLeod Financial Services (Ontario) Inc.
The information contained on this website is for use by persons resident in Canada only.
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