My name is Chris Petitclerc and I am a licensed insurance and investment advisor from Calgary Canada. As an independent broker, I can shop the financial market for mortgages insurance and investments. We are partners with about 100 financial firms across Canada.
Today I have something very important to share with you. I am quite sure you are aware of what has been happening in the world today with the pandemic. But are you protected? I don’t mean with the vaccine, but with life insurance. 🙂
The Wealthy use life Insurance to …….
This very popular book “10 Secrets Revenue Canada Doesn’t Want You To Know!” is to give you more control and empower you to keep more of what is rightfully yours! The book is filled with ideas and strategies most people don’t know about to reduce their taxes we pay in Canada. In it you’ll find practical down-to-earth advice you can really use to slash your tax bill. Written in plain English, Voth exposes 10 secrets you’ll wish you’d been using for years.
But in it you will see that secret #7 is creating an insurance tax shelter. The Insurance Industry is Tax Haven and one of the few areas still left in Canada we can shelter our hard earned money from Taxes and have more income in retirement.
During the summer of 2020, a women came into our WFG Calgary office. She had a piece of paper that she needed some clarification on. The agent took the paper and reviewed it. It was a life Insurance policy for half a million dollars. The ladies husband had recently passed away due to COVID-19 complications. She had been going through some of his belongings and papers and came across this life insurance policy. She had recently lost her job and she had 2 young girls to take care of (ages 6 & 8 years old). In addition to that she still had a mortgage & bills to pay. She was getting ready to sell the house and did not know how they were going to survive financially.
The WFG agent helped her fill out the necessary paperwork for an insurance claim and with-in 2 weeks she had $500,000 wired to her bank account. She was able to pay off their existing mortgage and debts. She said that money saved them. If not for that policy, she would have had to sell their home and down size, find a job or source of income, pay for child care expenses and also rely on friends and family to potentially help them out if they could. She had no idea that her husband had taken out a life insurance policy on himself and had been thoughtful enough to leave his family protected in case something tragic was to happen to himself.
It is so rewarding to know that we as life insurance agents are able to help families get properly protected to avoid any financial burden which adds to the stress the family are already having to go through.
Life Insurance is a lump sum of money paid to your beneficiary(s) when you die. It is an extremely thoughtful and caring gesture to do and have set up for your family. Depending on your age and health we will determine what it is you might need insurance wise. If you are younger (under 45) and interested in getting permanent life insurance you will have your entire life you can get the premiums back in your retirement so this is like having FREE Life Insurance. The premium costs are slightly more than term. Typically we recommend a combination of term and permanent insurance. Let me explain more to you and how it works in a meeting as this may be an option you would be interested in. We also offer term policies as well that can keep premiums lower.