The Wealth-By-Design Consulting Team offers a number of life and health insurance solutions. Insurance strategies and solutions are available for individuals and families, businesses and corporations. Solutions for individuals and families range from term insurance to universal life, critical illness and disability insurance, as well as health and dental solutions for small business and self-employed or incorporated professionals.
Individuals & Families:
Families deserve an informed and dedicated advisor that stays a step ahead of a rapidly changing industry, not a “jack-of-all-trades”, to provide accurate advice and the best possible solutions available. The Wealth-By-Design Consulting Team, with a specialized person for each discipline, is that choice .
Part of our service to you is to complete a review of your insurance and investment portfolios and to asses and inform you of the risks that may be present. We then put together a strategy to mitigate those risks using a number of different strategies.
There are 2 categories in which an insurance product will fit:
Debt Protection (ie. mortgage insurance): Creditors often offer insurance to their debtors. The rationale is that in the event of death, a loan or debt is paid off through the use of insurance proceeds. This is a great solution for the lender or bank, but may not be the best solution for the deceased family or estate. This type of insurance is usually more expensive, less comprehensive and not guaranteed, so the risk may actually remain unaddressed. Also, this type of insurance can have a decreasing value and level costs and no options, whereas a personally owned policy will be less costly, more comprehensive with flexibility, in addition to being guaranteed.
Asset Protection (ie. Income, Estate): When considering asset protection , your biggest asset is your ability to earn income. Protecting your family should your income no longer be received because of an illness, disability or even death should always be a priority. Most people don’t consider this risk and assume that insuring it is too expensive, when in reality it can be very affordable, and the peace of mind from knowing that your family will be financially secure is priceless.
Incorporated Professionals / Business Owners: We are knowledgeable in dealing with corporately structured policies that enable a corporation the ability to create tax deductibility of it’s retained earnings while having the opportunity to accelerate investment growth. We have much experience using Universal Life insurance, which allows tax deferred investment growth and the potential to have tax-free retirement funds, estate transfers, leveraged loans, etc. As brokers there are numerous strategies that we can employ from a number of insurance companies in order to protect loved ones, protect and accumulate assets, save on potential tax costs, and give peace of mind.
We are fully equipped to advise on all types of life and health insurance- whether it be for the individual or corporation.
In all cases, the Wealth-By-Design Consulting Team makes it a priority to review the insurance needs for our clients. While investments are accumulating and an estate or corporation is being built, we consider it our duty to assist and protect our clients from potential tax liabilities and/or other financial setbacks, including the risk of over-insurance
From an insurance standpoint, we take time to educate individuals, families, and corporations on what insurance they own and how it works to benefit them and their overall financial plan. We don’t recommend families to be served by a ‘jack of all trades’. Families deserve an informed and dedicated advisor that stays a step ahead of a rapidly changing industry to provide accurate advice and the best possible solutions available. The Wealth-By-Design Consulting Team is that choice.
Insurance Solutions We Offer
- Term Insurance
- Mortgage Insurance
- Disability & Critical Illness Insurance
- Health & Dental Plans
- Universal Life Insurance
For Corporations, Businesses & Business Owners:
- Group Insurance Plans
- Insured Retirement Strategies
- Individual Pension Plans
- Corporate Insurance Plans (UL, etc.)
- Wealth Transfer Strategies
- Key Person Coverage
- Corporate Buy-Sell Plans