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

Positive attitude is a must !

These are difficult times for many people in personal lives as well as business . We are connected to each other in more ways then we ever imagined . Sometimes we need to slow down and take a deep breath to count our blessings for what we have and focus attention away from what we are lacking . Stay positive and support your Ottawa community and people you touch !

Deductable Premiums for Your Disability Insurance !

Deductible premiums for Executive Disability Insurance can be achieved when insuring a " CLASS " of employees which qualify under CRA guidelines . Also at claim time , Earned Income Definition allows the disabled individual to qualify for current or future RRSP contributions . Working in the insurance industry for over 28 years I still get amazed how many corporationshave not looked at the advantages of providing executive coverage to a " CLASS" of employees with deductible premiums ! It is up to the insurance advisers to provide the clients with necessary information to make informed decisions .

Disability Insurance Contracts and Your Financial Well Being !

Majority of business owners have no idea that their group insurance contract will most likely not pay them a cent at time of their disability ? WHY ? Contractual obligation under the Long Term Disability plan exhibit reverse discrimination against executives as well as shareholders . A receptionist has a better chance to qualify at time of claim then would a CEO of a company ! Most people never complete insurance audits on their disability insurance personal policy , Long Term Disability under a group contract or under a Association plan . Time to find out about your disability is not at the time of claim .

Disability Insurance and Depression claims !

When we talk about depression most people think it happens to someone else . Majority of disability claims deal with depression and there are difficulties when trying to insure someone with depression . There are different severity's of depression and when applying to secure disability insurance careful attention is needed to obtainthe best possible contract .  Apply with at least three insurers that are not related like Great West and Canada Life .More information is better as the insurer underwriter needs as much information as they can obtain to assess their risk to issue a policy . Time loss from work is one of those factors that will be closely looked at . Do not assume that you do not qualify for coverage if there is a history of depression with you or your immediate family .

Planning for Business Owners

What is planning for business owners ? Have you taken advantage of creating structures that will save you money and leave a legacy ? A number of people we meet on a daily basis are busy running their business and rarely do they have the luxury to slow down to look at what they should be doing . As a insurance specialist as well as Trust and Estate Practitioner my most enjoyable moments are working with clients to create a team of advisers that will truly take care of their needs . Has your adviser talked about : Trusts ? Holding Company ? Shareholder Agreements , Professional Services Corporations , Reducing your after tax cost on insurance premiums ? Individual Pension Plans ? Estate Freeze ? Creditor Proofing ? R&D Credits ? Call us as wi can be of great value to you and your business ! What have you got to lose if you do not engage professionals ? Lot's !

Health care in Canada

Our health care system is great in providing our citizens basic health care without discriminating against poor , middle class or rich . Problem exists that costs to deliver basic health care are continuously going up while government has only so much money to throw at the problem . We have to take matters into our own hands and augment coverages that our families as well as business needs through private insurance solutions . There are tax advantaged solutions that can be created while providing proper coverage to you , your family and or business . Call us , we can demonstrate solutions which work at a cost effective level .

DO NOT DEPEND ON THE GOVERNMENT !

Ottawa Economy

I had the opportunity to be in attendance at Mayor's breakfast where a economist laid out the economic outlook locally , nationally and primarily US . To no ones surprise , we are attached at the hip to the US economy which stands to reason that we will follow their trends to recovery with several advantages . Our financial institution are in better shape due to in my estimation controls imposed on them by our government regulatory agencies . Ottawa is not being as effected as other cities due to the government employment which in times like this is good buffer . What about private industry ? What can we do to help ourselves ? Look to buy services from people in our community .

Shareholder Agreement !

Why should you review your shareholder agreement ? Ask a person who is in court because the agreement was not well structured . In my opinion majority of business owners neglect to review their agreements and are staring down a barrel of a loaded gun .There are also those that do not think Shareholder Agreement is  necessary. Get the best advice from your corporate lawyer , accountant and a qualified insurance broker when drawing up a agreement . I am working on regular basis to help business people review and identify holes inside their agreements . No I am not a lawyer but have over the last 29 years been part of many corporate discussions that iinvolve agreements and completing insurance audits to ensure their life policies are not going to create a massive tax problem .

How would you survive a critical illness ?

What would you do if after you went to the emergency department complaining of indigestion and they told you you have to go to the Heart Institute because you are having a heart attack ? You have survived but can not go back to work at the same level you did before . Financial and emotional stress created by a critical illness and yet so few people are prepared . Yeah I know , your family history is good and a critical illness will never knock you down to your knees .

Tough Economic times can be overcome one battle at a time !

I am finding that the press is doing a good job convincing people that we are doomed . Yes these are difficult times for all of us and we need to be much more efficient while being driven to succeed . You have a choice , buy into everything you read and put your head in the sand or decide to fight each battle and never give up . You will get knocked down from time to time but decide to get up and fight !