OVERVIEW

Many people entering into business on their own are coming from a corporate environment in which they were provided by their employers with generous "fringe" benefits. Typically these include group life insurance, some accidental death and dismemberment coverage, dependent life insurance, short and long term disability income replacement insurance, extended medical coverage, and a dental insurance package. Suddenly on your own, these are difficult benefits to do without.

When starting or buying a business, the first priority has to be survival of yourself since, if you don't survive, neither will the business. If you need these benefits, you had better get them. But look before you jump.

Whether sponsored by an employer, a chamber of commerce, a union, or a professional organization, all group benefit packages are underwritten by an insurance company, or a group of insurance companies. They are in it to make money, at least break even, definitely not to lose money. For this reason, you really have to take coverage you may not want or need (which make money for the insurance company) in order to get coverage you do want or need (which usually lose money for the insurer). A benefits package is exactly that, a package.

OVERVIEW

This is an insurance program that takes care of tomorrow, today. As you grow older, you may find you cannot perform all the usual daily activities of daily living. When this occurs, you may need to have a care giver come into your home to assist you. This essential service can cost up to several thousand dollars a month.

The other thing you may face is the development of a chronic condition that is severe enough to require you to enter a chronic care facility. These facilities can cost up to $1800 per month for government care and $10,000 for monthly care in a private nursing home.

In either case the costs can have a serious impact on your family finances - maybe even reducing your standard of living. The alternative is a plan that will reimburse you for some of these expenses. This plan called Long Term Care.

Long Term Care is designed for you, your spouse, your parents or other loved ones.

As lifestyle and health care improvements increase longevity, one of the concerns of the "boomer" generation is the potential need for long term care when self care becomes unmanageable. It's not fair to rely on family or friends to provide such care. Finances, skill or facility may well be out of the reach of loved ones to provide for one's needs. Several insurers have developed an insurance product that can provide tax free cash flow when it is needed.

Disability or Loss of Income protection

provides vitally needed funds when a disability from accident or sickness creates a stoppage of earned income. While income stops, family and business expenses continue.

The risk of a disability and the resulting loss of income is dependent on a number of factors. The nature of the occupation; the age, sex and health of the insured person. As a result, a large variety of plans and plan benefit features are available to allow customization of a plan structure that meets the needs and budget of an insured person or business.

Income Loss protection is available for individual income loss, business income loss; protection to cover overhead expenses of self employed professionals.

The matching of benefit to customer need, and premium to budget is a complex task requiring professional advice. Finding the best plan, insurer and price can be daunting. We can help. Contact us for assistance.

It could happen to you - • It is estimated there are over 70,000 heart attacks in Canada each year. • There are between 40,000 - 50,000 strokes in Canada each year. • An estimated 3,075 Canadians will be diagnosed with cancer every week. • An estimated 55,000 - 75,000 Canadians have Multiple Sclerosis. Sources: Heart and Stroke Foundation (2001- 2008); Canadian Cancer Statistics 2007; Multiple Sclerosis Society of Canada 2006. The statistics provided in this brochure have been developed by the identified sources and are not based on the definitions of critical illnesses contained in the LifeAdvance policy. They are provided for general information only.

Advances in medical science and increasing life expectancies mean you have a better chance of surviving a critical illness. However, a critical illness often brings overwhelming medical and financial burdens on you and your family.
Critical Illness protection helps offer you financial protection and some provide access to the medical services provided by Best Doctors®, and counselling and support services provided by Shepell·fgi™. Critical Illness Protection pays
you a one time lump-sum benefit if you have a critical illness insured condition which meets one of the definitions set out in the policy and the survival period has been satisfied. The survival period is 30 days for most insured conditions.

Here are the typical list of covered benefits:

24 Critical illness insured conditions

• Alzheimer’s Disease                      • Aortic Surgery
• Aplastic Anaemia                            • Bacterial Meningitis
• Benign Brain Tumour                     • Blindness
• Coma                                                 • Coronary Artery Bypass Surgery
• Deafness                                          • Heart Attack
• Heart Valve Replacement              • Kidney Failure
• Life-Threatening Cancer                • Loss of Limbs
• Loss of Speech                                • Major Organ Failure on Waiting List
• Major Organ Transplant                  • Motor Neuron Disease
• Multiple Sclerosis                             • Occupational HIV Infection
• Paralysis                                            • Parkinson’s Disease
• Severe Burns                                     • Stroke

There is a variety of of Benefit  and Premium paying periods with numerous optional benefits and riders available.

Contact us for a frank discussion.