INSURANCE OPTIONS AND LONG-TERM TAX MINIMIZATION STRATEGIES FOR INDIVIDUALS AND BUSINESSES
Customized Risk Management &
Assessment Plans To Meet Your Goals
At CH, we don’t believe in a one-size-fits-all solution when it comes to risk management. Working closely, we help you identify your goals and gaps in your financial plan in order to mitigate risk and protect against the unexpected, then develop a tailored strategy to meet your business or personal needs.
It can be hard to convince people that life insurance is money well spent. In fact, the only thing more frightening than the prospect of a loved one dying unexpectedly is someone trying to sell you insurance on the pretext that it may happen. Yet, protecting your assets is an essential part of risk management and your comprehensive financial plan.
Did you know that 80% of Canadians are considered to be underinsured, and 1 in 7 people die before retirement? So, risk management and asset protection are truly important and just make responsible sense.
Risk management and asset protection have become an integral part of the overall financial plan and thus our practice. CH Financial is here to protect you and your family in the event of the unexpected.
- Protect your family i.e. mortgage or debt
- Protect your income
- Preserve an estate
- Take advantage of tax sheltering
Life Insurance Risk Assessment
Did you know that when you purchase term insurance you are participating in a ‘decreasing benefit’? Meaning that though your premium cost stays the same but the amount of coverage you would receive decreases as a result of paying down your mortgage? This is why term policies are so helpful. Not only will there be coverage for your mortgage in the event of a loss but you would also receive the full benefit of the insurance you are paying for.
What is term insurance best suited for? Short-term needs. This includes mortgages, business partnership changeovers and a place-holder for when permanent coverage fits your budget.
Designed to meet both your life insurance and investing needs, Universal Life and Whole Life insurance combine long-term protection and tax-advantaged investing in one single, customizable policy. Whether your goal is to protect the legacy you’re building for your loved ones or to build additional wealth over time.
- Leave proceeds to your loved ones – tax-free
- Further your estate planning (and estate bill)
- Build tax-deferred equity and accessible cash value over time
- Establish financial collateral for a bank loan
- 10 pay and 20 pay options allow for short term cost but lifetime benefits
Accident and Sickness
CRITICAL ILLNESS AND DISABILITY INSURANCE RISK MANAGEMENT
Did you know the likelihood of getting a critical illness and surviving it far outweighs critical illnesses that result in death? Financial plans are designed to determine what you will need for retirement, assuming you can work until retirement. What if a critical illness happens first?
This can seriously impact your financial plan and savings. Critical illness insurance helps cover the unexpected costs and the potential loss of income associated with a serious illness.
From the costs of medicine and treatment, to travel, specialist and home accommodations, treating
and recovering from an illness can have a devastating financial impact.
A return of premium option is also a fantastic addition to critical illness plans. This is what we call a ‘win-win’ addition because with the return of premium rider if you don’t end up with a critical illness, you get all your premiums back. No strings attached!
Business and Key Person
BUSINESS & GENERAL PROTECTION
As a business owner, you do everything possible to ensure your business succeeds, protecting everything you’ve worked so hard to build but some things are out of your control.
KEY PERSON INSURANCE
Business owners and other key executives spend considerable time and effort to acquire the knowledge, experience, judgment, reputation, relationships, and skills that make them valuable to the business. The loss of an owner or key personnel whose contributions are integral for a business’ success can be devastating.
It can result in a drastic loss of profit, customer base, and even reputation. Protecting your business against such risks is often a prudent step toward business continuity while addressing the concerns of your key stakeholders.
This is where key person insurance comes into play. If something happens to a key person, the life insurance proceeds give the business working capital to meet immediate cash needs and provide a source of funds to decrease the impact of that loss.
CH Financial uses a holistic approach to wealth management, centered on a solid financial plan, and paired with risk management not only seeking to maximize returns but also to mitigate risks through insurance strategies and long-term tax minimization. All of these are tied together to ensure the long-term financial health and well-being of each of our clients and their families.
Start the conversation
ARE WE A GOOD FIT?
Like you, we’re selective about the long-term relationships in which we engage.
We’re looking for aspirational clients who require the whole spectrum of financial services because managing the whole is how we’re able to deliver unbeatable value – it’s our “secret sauce”.
If this describes you, let’s set up a meeting and
get to know each other.