Life insurance is a unique financial tool. It is a contract between you and an insurance company. The contract states that once a policy is in force and the premiums are paid, your beneficiary will be paid an agreed sum of money at your death. Life insurance benefits paid at death are tax-free. This product is very useful to cover debt / mortgage, income replacement, family protection, and estate planning.
How long could your savings last if you were suddenly unable to work? Your ability to earn income is your most valuable asset, yet many people do not insure it.
Disability Insurance protects you by providing a monthly income if you are too sick or injured to do YOUR job. We cover you 24 hours per day, for both accidents and sickness, whether you are at work or at play.
You need to review your disability coverage periodically to ensure the level of coverage and contract wording is adequate for your needs.
Critical Illness Insurance is a form of health insurance coverage that provides you with a lump sum payment should you become seriously ill.
The product is designed to help you financially during a time of illness so you can worry less about finances and focus more on recovery. There are no restrictions on what you do with the money.
Although they differ from company to company, most companies cover over 20 different common “critical illnesses” including:
- Heart attack
- Loss of independence
- Organ transplant including bone marrow
- Kidney failure
- Paralysis / blindness / deafness
- Severe burns
Upon diagnosis of a covered Critical Illness you would receive the benefit tax-free 30 days later.
At Foresight Financial we have all the tools and expertise to help you achieve your financial dreams. We look at each person as a unique individual with different needs. We consider your stage of life, and the savings amount that would be manageable.
Our investment process involves a disciplined and thorough review of:
- Your short term and long term goals
- An in-depth analysis of your current financial situation.
- A plan is developed with manageable steps to get where we want to be at the end of our established timeline.
We develop a portfolio of investments that provide you with the growth potential you need, and keeping in mind the risk you can handle.
Whenever possible we encourage our clients to participate in an automatic monthly contribution program. By making an investment each month you are more likely to stick with it and achieve your goals. In addition, you benefit from dollar cost averaging so that when the markets go down your same dollar amount purchases more units, adding value to your portfolio.
Segregated Funds - Under the Canadian Insurance Act there are many guarantees associated with insurance investments that do not apply to other investments. Segregated mutual funds are very similar to mutual funds except that they are run by an insurance company instead of a trust company. As such, they offer creditor protection, the ability to name a beneficiary, and certain guarantees of principle.
Mutual Funds - We are fully licensed through Portfolio Strategies Corporation to offer mutual funds to our clients. We can design a properly balanced and diversified portfolio of investments tailored to each investors individual needs. We regularly attend seminars and workshops to stay informed on the economy and any new products which might help us serve you better.
As brokers, we offer a truly independent viewpoint and have access to a wide variety of products. We would be honored to meet with you, complete a financial review, and efficiently manage your money to reach your goals while minimizing risk.
Types Of Accounts
- Daily Interest Accounts (D.I.A.)
- Money Market Funds (M.M.F.)
- Term Deposits (T.D.)**
- Guaranteed Investment Certificates (GIC)**
- Mutual and Segregated Funds
- Immediate and Deferred Annuities
- Tax Prescribed Annuities
- Term Certain Annuities
- Registered Retirement Savings Plans (R.R.S.P.)
- Registered Education Savings Plans (R.E.S.P.)
- Locked-In Retirement Accounts (L.I.R.A.)
- Registered Retirement Income Funds (R.R.I.F.)
- Locked-In Retirement Income Funds (L.R.I.F.)
- Life Income Funds (L.I.F.)
- Non-Registered (Open)
- Tax Free Savings Accounts (T.F.S.A.)
** Available as redeemable and Non-Redeemable.
Long Term Care Insurance
Long Term Care Insurance is designed to help people approaching their retirement years. Why risk letting a health problem ruin your financial independence, retirement, or make you a burden to someone else? Long Term Care can help you financially deal with a health problem and keep your independence.
A Long Term Care policy will help preserve your lifetime of accumulated savings and assets, as well as your lifestyle. If you become unable to perform two of the activities of daily living (ADL's) such as bathing, dressing, or feeding yourself, then you would be qualified to receive a monthly payment.
Because of the rising costs associated with Long Term Care facilities, this product can help to provide you with options, while preserving your assets.