Protect the people that matter
From life and health insurance, to long term investments, pensions, estate planning and more, successful financial planning is essential for the financial well being of families and business owners. We take the time to analyze and review your current financial position, recommend a plan of action in a clear, concise manner, and assist you in achieving your goals.
- Critical Illness
- Key Person
- Buy/Sell Agreements
- Employee Benefits
- Group Retirement and Savings
- Investment and Retirement Planning
- Segregated Funds
- Health and Dental
- Long Term Care
- Business Overhead Expense
- Mortgage Insurance
- Pension Plans
- Tax and Estate Planning
- Business Succession
- TFSA (Tax Free Savings Account)
Looking for a customer friendly insurance service? In an industry you dread dealing with when you need them most, these guys make it smooth and stress free! Cluett has been wonderful to deal with on all fronts for us, business, home, life and auto!
Life insurance covers most causes of death. Illness, suicide after the contestability period, most accidents, and death by natural causes are all covered by life insurance.
Many insurers have exclusions on their policies. A life insurance company may withhold a death benefit if:
- You commit life insurance fraud.
- Participate in dangerous activities regularly.
- Your beneficiary murders you.
- You commit suicide within the contestability period.
Life insurance is important because it protects your family by leaving them a non-taxable amount of money when you pass away. It can be used to cover your mortgage and personal loans. Life insurance replaces your income so your family can maintain their quality of life.
Buying life insurance for the first time is a big decision. Take advantage of online resources to gain a better understanding of life insurance and the options available to you. Think about the type of life insurance you may be interested in getting. Your insurance is only as good as the company behind it, that is why it is important to speak with an advisor who is able to provide you support and find you coverage that is right for you and your family.
You can withdraw money from the policy on a tax-free basis, but only up to the amount you have already paid in premiums. Anything more typically is taxable.
For the most part, life insurance in Canada is considered non-taxable. Your beneficiaries will be able to collect the full death benefit, which means they will not need to pay income tax on the amount they receive when you pass away.