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

Association Sponsored Insurance Programs

A number of professionals do not take time to read and fully understand association plans offered to them from their Professional Associations . The problem is that they FOCUS primarily on premium charged for their association plan . Answer this question , if you were going for heart surgery would you chose cheapest doctor or do your research and get the best doctor ?Here are some items to consider when looking at association plans : ARE YOU SATISFIED WITH THE INSURER BEING ABLE TO CHANGE YOUR PLAN AND PREMIUMS ON A ANNUAL BASIS ? HOW IMPORTANT IS "OWN OCCUPATION " EVEN IF YOU DECIDE TO LEAVE YOUR PROFESSION ? ACCIDENTAL INJURY HAS TO BE FROM INDEPENDENT CAUSES AND A HEART ATTACK WHICH CAUSED YOUR AUTOMOBILE TO HIT A TREE AND YOU BROKE YOUR BACK PREVENTS PAYMENT OF CLAIM ! There is much more to consider when looking at insuring yourself through a association plan . Remember , this is not your association fault as insurance companies price plans according to claims they will pay from their plan . DO NOT BE FOOLED !

Professional Service Corporations

Professional services corporations provide great opportunities for insurance planning which will save you premium dollars . Be careful to chose an insurance adviser which has knowledge of legal ant tax matters when structuring your coverages as mistakes can be VERY costly . Call us for assistance and reap the benefits .

Shareholder Agreement can be a blessing or a curse !

I urge you to work with Legal Advisers who specialize in drafting agreements rather then specialists . Why ? In my opinion it is better to draw up a very good agreement while shareholders are getting along rather then learn that you are being abused at the time of dispute . Make sure your chosen lawyer is taking time to explain to you what if scenarios at the onset and everyone understands the provisions as well as their responsibilities as a shareholder . Being a shareholder of a company carries fiduciary responsibilities and they can not be breached . If you do not have a agreement , call me and I can assist you in finding lawyers that are thorough at creating agreements .

Insurance is your best investment !

Critical Illness , Long Term Care , Disability Insurance and Life Insurance are extremely valuable vehicles to protect you , your family and your business . Had a business client this week tell me that she can invest her money and get a better return then critical illness insurance and I said maybe you are correct .One monthly premiums when compared to investment return on same dollars can not be compared when a claim is paid . I asked the client , which would yield you the highest return ?