Skip to content

Posts from the ‘Living Benefits’ Category

What is Key Person Insurance?

Most business owners understand that assets vital to the success of the enterprise should be insured.  Premises are routinely covered for fire and/or theft; vehicles used to make deliveries, insured; machinery needed for manufacturing, also insured. Given that these tangible assets are instrumental in the success of the business, it makes good business sense that the business is protected in the event of a loss.   But what about key employees? Many business owners overlook the impact on their business should a key employee die unexpectedly.

If you own or manage a company whose continued success is dependent on key people (it might even be you), it would be prudent to insure all key personnel whose death or incapacity would negatively affect profitability.  Key persons are those who contribute to the continuing success and profitability of the enterprise.

What happens when an owner or key person dies or becomes disabled? Read more »

Long Term Care Insurance – Not Just for the Elderly

Whenever the topic of Long Term Care Insurance (LTC) is brought up, most people’s reaction is to automatically assume the discussion is about caring for the elderly.   While it is true that LTC coverage is a valuable tool to provide the necessary funds for when we are no longer able to care for ourselves, it should not be overlooked for younger people who are in the prime of their earning years but are unable to purchase the amount of disability insurance that they desire.

LTC insurance pays a monthly benefit to an insured who is unable to perform at least two of the six activities of daily living without assistance.  The activities of daily living are bathing, dressing, toileting, transferring (bed to chair or vice-versa), continence and eating.  It also pays a benefit in the case of cognitive impairment.  Anyone who has been in a serious accident, took a bad fall on the ski slopes, or suffered a debilitating illness or condition could probably have received a benefit from a LTC insurance policy if the condition lasted longer than the waiting period of the contract. Read more »

Start a family conversation about elder care

By David Wm. Brown and Sarah Brown

Starting a conversation about someone’s age is a sure way to be the least popular person in the room. But while this is a no-go territory for cocktail party chatter, it’s a conversation you need to have with your parents.

Statistics Canada tells us that in 2007, people aged 45 to 64 paid for 75% of elder care. And now, a new generation is realizing that when their parents need long-term care, they’ll be called upon to fund it.

Read more

©iStockphoto.com

Juvenile Critical Illness with Return of Premium

Protection if you need it.  A refund if you don’t.

Critical Illness Insurance – Not Just for Adults

Most of us have experienced or known someone whose family has been greatly impacted by a parent being diagnosed with a life-threatening disease or condition.  But what about when it happens to children?  Sadly, all too often children are affected by childhood diseases such as:

  • Type 1 diabetes mellitus
  • Congenital heart disease
  • Cerebral palsy
  • Cystic fibrosis
  • Muscular dystrophy

Read more »