Life Insurance & Income Protection
Life insurance provides cash to your family and dependents after your death. This cash (known as the death benefit) replaces your income and can help your family meet many important financial needs like daily living expenses, mortgage payments and educational expenses. There is no income tax on life insurance or critical illness benefits.
Wealth Management is the process of
maintaining and protecting a persons financial
assets. Essentially, there are six types of assets:
Fire & Burglary
Group Life & Medical Insurance
Key Man Insurance
Income & Credit Insurance
A sound estate plan is not only a ‘will’ – it encompasses financial, tax, medical and business planning. It incorporates real estate, insurance, investments, bank accounts, stocks or bonds, gold, jewellery, or any other asset that is of high value and quantifiable. One of the most important part of estate planning is “Hedging” the Estate. Most portfolio’s are hedged using “options” or “derivatives” , to hedge an estate plan, the family needs to secure the Human Capital which can be difficult to quantify.
Wills and Trust Services
When a person dies without a Will, or dies “intestate”, as the law calls it, the property of the deceased is distributed according to a formula fixed by law. In other words, if you do not make a Will, you do not have of any say as to how your property will be distributed. An ” Estate” applies not just to real estate, but any cash in a bank accounts, cars, furniture, books , bonds, jewelry, family heirlooms, works of art…any property anything at all owned by you.
A will should be made while the maker is in good health, free from emotional stress. A prudent person does not wait for a catastrophe or other compelling reason before making a decision. If you have children and you and your spouse dies, do you want to name the guardian of your children, or do you want the court to appoint one? If you do not have a Will, the court, by law, will appoint the guardian.