"Risk Management" is the most misunderstood area of a balanced financial portfolio. Having a sound risk management strategy in place for both your family and your business ensures that life’s uncertainties are planned for well in advance.
There are two areas to consider in a comprehensive risk management strategy:
Life Insurance ensures that your family or business is taken care of in the event of your death. If you were to unexpectedly pass away, would your family have the necessary liquid capital available to pay off any debts or taxes? Would they have an income stream that would allow them to maintain their current standard of living? Would your business be able to buy out your spouse’s share of the company?
A long term disability or illness is not just a remote possibility. At any time, an accident or illness could prevent you from working for months or even years. If you were unable to go to work tomorrow, how would you maintain your standard of living? How long would your savings last? What would happen to your retirement planning?
Medical advances mean there is a good chance you will recover and get on with your life, but getting better costs money. If you become disabled, sick or require long-term care, Living Benefits Insurance provides you with the necessary capital.
Life Insurance and Living Benefits Insurance work together to effectively address the following areas of both personal and business estate and succession planning:
Ciccone/McKay will work with you to determine a solution that fits into your lifestyle and your financial plans, while determining the right type and the right amount of insurance.
Please call us at 604.688.5262 for more information on how we can help you determine the risk management strategy that will work for you.
Businesses fail for a number of reasons including lack of planning, poor management, inadequate funds, downturns in the economy, debt overload, etc. Life Insurance and Disability Insurance provide cost-effective risk management solutions for many situations that could threaten a business, such as the loss of an owner or a key employee.
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In addition to taking care of the risks your business can face, it is important to ensure that your family is taken care of in the event of a death or disability. Life Insurance and Living Benefits Insurance provide protection for your family, giving you peace of mind.
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