An example of Asset Protection would be Joint Last to Die insurance. Often when the second spouse dies, their estate generates a tax bill. In some cases the bill to Revenue Canada that the estate must pay is so sizable that the estate is forced to sell property to pay that bill. A Joint Last-to-Die policy would pay out the amount of the tax bill to the family of the deceased upon their death. People live longer today than they did just 30 years ago and that reality brings new challenges. What do you do when you are no longer able to care for yourself? Nursing care can quickly eat into one’s estate. Long Term Care Insurance can provide financial relief that may one day mean the difference between being in a government nursing facility and being at home.

Some examples of Income Protection would be Critical Illness Insurance. Cancer alone strikes 6 out of 10 people. Critical Illness insurance provides a lump sum tax free benefit in event that one suffers a heart attack, stroke or develops cancer, or one of 15 other medical issues or diseases. Imagine suffering from cancer and still having a mortgage to pay? You can no longer go to work, what do you do? Critical Illness would protect your income. Disability Insurance provides a monthly benefit for a set period of time or until one is able to return to work. 7 in 10 people will be off work for 90 days of longer during their career due to a disability or sickness.