The TK Advisor - The TK Group Ottawa Blog about Life Insurance, Critical Illness Insurance, Wealth Mangement and Estate Planning

Critical Illness Insurance and Long Term Care

I am puzzled why these products are not more sought out by consumers . Maybe the better answer is why are the insurance people not approaching their clients to secure this coverage . In my estimation , these two products may be the best insurance policies that you will ever get for yourself . Yes the insurance agents complain that Critical Illness is harder to get due to medical underwriters but in no way is it impossible . One professional once said to me at a social gathering , I was told by a insurance agent I will not get Critical Illness insurance because of my family history . The agent went to her trusty company general guide and followed the suggestion from her "ONLY" insurer she is allowed to sell for and they told her not to bother . Needless to say , our client , and his wife now have a critical illness policy today .Critical Illness is valuable to ultra wealthy and anybody else that can qualify for coverage . There are ways to structure this coverage to even qualify for tax deductibility of premiums. Long Term Care is even less presented to the potential clients . Why ? There are not many insurers selling this coverage and sales people , just like Critical Illness , rarely take the time to understand it . My assistant encouraged me to look at this coverage for our client base and it was a real eye opener . Again , work with a knowledgeable " TRUE BROKER " WHO CAN SHOW YOU A NUMBER OF PRODUCT DESIGNS AS WELL AS FROM A NUMBER OF INSURERS . Do not allow yourself to buy a off the shelf product without examining all the options . Remember , Critical Illness policies are not savings plans , they can return a premium in 10 or 15 years if you have not claimed but you have paid a considerable additional premium for this "PRIVILEGE ". Remember , you are buying protection so get as much coverage as you can afford .

Money for your health !

Are you in good health ? Do you know for sure ? What would happen if you survived a Critical Illness ? Doctor tells you after your heart attack that you are recovering and you can go back to work in 4 to 6 weeks . Great you say ! How will your life change ? Will you have 5 appointments a day and work again at night ? Let me tell you one thing for certain , everything gets questioned after a Critical Illness like a heart attack . You will want to change your lifestyle , statistics say that 70 percent of people that have a heart attack make the necessary changes to prolong their life , to extend your life . What allows you to change your life style , work and personal life ? Money ? Critical Illness provides you with a lump sum after survival of 30 days .We have already delivered two 500000 dollar payout within last year alone to clients who are very thankful they had the coverage . While your health is good , get your coverage in place . You should consider this coverage for your husband , wife or your partner . The other persons Critical Illness will ABSOLUTELY have a impact on you .

I urge you to get your coverage while you are healthy enough to qualify !

What is your stock broker , investment advissor or discretionary money manager not telling you ?

A number of investment advisor's are oblivious to potential problems you can face in your golden years from health issues . I have seen a number of advisor's telling their clients to buy permanent insurance , section 148 of ACT , to accumulate wealth through tax deferred growth within a permanent insurance policy . While at " times " this makes a whole lot of sense for " some " clients they are absolutely not seeing a potential problem in later years .

There are a million financial planning tools that can tell you how much money you " may " be able to retire on however they can not show you what happens if you have to take a 450000 dollar withdrawal to get health treatment in US for bone marrow transplant . Think about this , what if you and or your spouse had a 2000000 dollar Critical Illness or Long Term care policy to protect your financial well being . Things like private duty nursing are very expensive but not properly covered by our health system . We all have another huge problem , many of us are baby boomer's , the health system is already busting at the seams and we can not expect it to get any better soon . Insurance coverage like Critical Illness and Long Term care should be considered as buckets of money that many of you may need . So for all you " MONEY " advisor's , for God sake wake up and help your clients protect themselves by sending them to a specialist that is able to help them protect their lifestyle . Unfortunately , bank investment advisor's are only allowed to send their clients to a insurance salesman that works for the bank selling traditional life policies . I must say that there are those bank employees who realize their clients need specialists in insurance and do call us however , they could lose their jobs if caught . There are people who care more about the client then the company or bank they represent , they should be congratulated . Am I being harsh , absolutely not as I am just telling the truth ! Insurance advisor's , take time and learn products from various insurers so you can give informed advice to your clients . Help your clients and do your job by providing them with specialized advice to protect their wealth .

We need a Canadian Football Team in Ottawa

Ottawa is in a desperate need of having a football team and most of the town is snoozing at this opportunity at our doorstep. First of all , the people that are leading a new franchise are first class individuals , corporations and citizens of our city . These people are also very successful so we will not have to deal with the shenanigans of some of the past owners . They are all proud and would not put their name on junk ! So with all this going for the team why is the Ottawa city council sleeping " again " at the wheel . Maybe they are looking for that perfect scenario . Wake up people and support this new business venture and a sport opportunity . God only knows we need more business to generate tax dollars as well as revenue for our city . Last time I heard , we are losing jobs in the city with closures of companies that got BIG FAT incentives to move here . WAKE UP OTTAWA !!!!!!!!!!!!!!!!!!!!!!!

Keeping focused on what is important not on what is a emergency !

It is always interesting to talk to business people, we all have our own issues to contend with on our daily journey to deliver a service to our clients . There are many interruptions in the day which can throw us off our game and time schedule . A client once asked " which should you deal with something important or a emergency ?" . His answer , " something important " . I asked why ? " because emergency is created generally by someone els who generally screwed up and made it a problem to you . It reminds me of a saying my client said to a individual in a business meeting  " do not tell me about birthing pains just give me the baby" . Focus on what is important in life your health ,family , business , friends .

Charitable giving In Our Community

We are living in a world where there are numerous charities that need our support . We are fortunate to have people in our community that constantly give and without fanfare . Without these people and corporations we would not enjoy the services and facilities . Ottawa Hospital Foundation and Ottawa Heart Institute are only a few that we are involved in . We as a community have a responsibility to get active in working through charities. We can donate funds or our time which is as equally important . I can personally say that if it was not for the Ottawa Heart Institute , I as well as numerous others may not be here today . I was speaking to a client about my experience with the Ottawa Heart Institute and he said that if we had had the services years a go that we do today his dad would have been alive . Please give to our local charities as we all benefit.

Why give business to local companies in Ottawa ?

One thing that drives me crazy is when people in our community go outside to access  products and or services from companies that are not located in our community . There are many very good Ottawa Businesses that need to be supported by our community . Why ? Because they are our neighbors , they give tax dollars to improve our community , they live here and spend their money here which further strengthens our community . Why do people feel they need to go to Montreal or Toronto to buy a product or service ? I am not advocating that you buy a product or service from a Ottawa company at all cost but I am asking you to open your eyes to who is here in your back yard .