Life Guard is INSURANCE Advice for Your Risk Management Needs

Your Life and Health Insurance Risk Management Plan Made Simple

At Life Guard Insurance we know that every individual, family and business owner has unique needs. Your financial situation could be very complex or rather straight-forward. Either way, we have the expertise and products to make sure you can sleep at night, knowing your insurance is properly looked after.

Life Guard Insurance is a team of Life Insurance Brokers in Canada and the surrounding area dedicated to helping you find that personalized insurance solution which fits you best. We focus on the ULTIMATE risks that you face every day — the risk of death, injury or serious illness that could derail you financial plan. Nobody wants to leave themselves or those they love and care about in financial turmoil. Think about it — you aren’t planning to lose your house after a diagnosis of cancer, or leave your children and spouse with nothing if you’re gone. What happens is people just procrastinate on putting sound risk management plans in place, like life insurance.

What is RISK MANAGEMENT?

Here at Life Guard Insurance, risk management comes in three main categories:

Catastrophic Risk

The risk of dying prematurely or becoming injured or seriously ill where you can no longer work and earn an income, and where you and those you care about rely on your income for their lifestyle.

Longevity Risk

The risk of living too long when your retirement nest egg runs out, either due to living well beyond your financial plan or having your savings eaten away by rising health-care costs.

Taxation Risk

The risk of paying too much taxes to the Canada Revenue Agency, either during your life due to high income levels or via your estate with final expenses, capital gains taxes, probate and legal fees.

Our Philosophy Towards Your Risk Management

Define your personal risk portfolio

By understanding your situation, and analyzing your risk needs, we can create solutions to that are tailored specifically for you. This is done through an Insurance Needs Analysis for Life, Disability and Health Insurance. We will build a plan for you that makes sure all your risks are addressed, and advise you on the appropriate insurance products to protect you, your family and your business. Keeping in mind that you are probably on a budget, the plan design is simple; can we solve ALL your risk management needs for the budget you can afford, and if so, which insurance products will give you the most value? If your budget can not afford everything we recommend, what is your priority of insurance needs, and address these priorities step-by-step, over time.

Solve RISK MANAGEMENT first with insurance products

Based on your budget, we would like to make sure ALL your financial risks are addressed FIRST, before you begin using life and living benefits insurance as an investment product. If all you can afford at this time is basic term insurance, for instance, we will make sure you have that in place NOW, so if anything happens to you NOW your family and your business. If your budget allows for it, the next thing you can look at is income protection via disability insurance (if you don’t have any coverage through work) followed by other health insurance plans, like critical illness insurance and long-term care insurance. Once all the holes in your personal risk management safety net are plugged, we can move on to creating value inside your insurance portfolio.

Create long term value inside your insurance portfolio

If you can afford to “invest” in life insurance, there are many tax efficient long term planning strategies you can use to build wealth inside your life insurance policy. Both Universal Life Insurance and traditional Whole Life Insurance policies offer excellent potential for long term growth plus the added value of having a tax sheltered investment vehicle. You life insurance plan can become an effective Estate Planning tool, creating an inheritance and legacy for the next generation and taking care of estate tax. Your living benefits insurance, like disability, critical illness and long-term care insurance, can all be used to protect your investments outside of insurance planning, so that your RRSPs, family home, business and other investments are not liquidated or borrowed against if your health turns for the worse.

The BEST insurance plans combine a solid risk plan AND long term value through wealth creation and wealth protection. Ultimately, this is the type of insurance planning we can do for you.

If you would like to find out more about your risk management needs, feel free to contact Life Guard Insurance.