Creative Solutions Insurance Agency
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Creative Solutions Insurance Agency Ltd. is dedicated to serving Ontario Residents through Financial Services. Most people strive for three major aspirations in life. Spiritual, Emotional and Financial comfort. If we think about it, ALL three are, like a pretzel, a basket weave of inter-connection and interdependence. Creative Solutions Insurance Agency, [CSIA] a financial services organization, is focused on the financial strand of this interconnection. Financial comfort begets emotional comfort. Emotional and spiritual comfort permits rational pursuit of financial comfort.
What we have found in the past 40 years in working with clients and their circumstances is that a common element exists. While every client circumstance and situation is invariably different, a common set of elements exist.
- Don't realize that a problem exists or will emerge if pursuing a given path;
- Don't realize the magnitude of a given problem, and thus
- Have no solution to remedy or control the problem.
- Are not aware of the solution options available, nor which is the most effective.
CSIA role in helping develop a strategy is six fold:
- help to identify, bring into focus and prioritize client's life aspirations
- quantify, and timeline client goals
- identify, quantify and explain financial issues
- help clients develop a strategy that helps to bring to fruition their life aspirations.
- Assist in Risk Management
- intermediate the implementation of action steps of a given strategy.
A large portion of our clients are families and small business owners. Our principal focus with clients is:
Risk Management & Financial Protection
Protect the family and business from the loss or interrruption of income created by unforseen health issues. Many things in life are a risk. Some risks are minor, some are potentially catastrophic.
We help clients with identifying, quantifying and managing the risk to their comfort level.
Most of our clients persue several life goals and work hard to provide the necessary funds to realize those life goals. One of the most common is the accumulation of sufficient funds during the income generating years to provide for the "golden years" where "spending" replaces "saving". Tax Free Savings Account, RRSP are two tax favoured programs that can be used to invest in segregated funds or alternatively in Universal life programs.
We help clients develop and implement strategies that helps them in fulfilling those savings goals.
Having reached the phase of life that changes the emphasis from saving to spending.
We assist clients in making the "nest egg" stretch as far as it needs to. Programs like RRSP can be converted to RRIFs, Privatized Pension funds can be built into manageable portfolios under locked in RRIFs. Likewise for unregistered funds, prescribed annuities can be set up to take advantage of a tax favoured structure of systematic life time income. GMWB structures under segregated funds can also guarantee a lifetime income base.
Often, decades of maticulous and legitimate tax avoidance techniques, like gas expense deduction claims, help maximize the after tax accumulation of retirement funds. Deligent RRSP plan contributions create more tax deferral allowing for greater investment accumulations. Tax effective investment strategies further the tax effective accumulations for retirement. After all that lifelong, deligent and often obsessive tax management, most clients still believe that they have paid their fair share of the tax bill and further taxation is unjustified. Clients perceive that unconsumed assets, at the end of their life, will be left to beneficiaries of their choosing and most don't include CCRA as a benefactor. Yet in most instances, CCRA does don't forgive taxes due. CCRA allows tax deferral, not tax dismissal. The deferrals usually come in a small incremental measure year over year. When the deferral stops and becomes due, its usually massive. Where does the funds come from to pay the tax? Well in the absense of pre-planning, it comes from the assets of the estate, deminishing significantly the sums destined to intended beneficiaries. Permanent Life insurance like whole life and Universal Life of [UL] can be used to maximize the value of one's estate.
We assist in estate preservation stategies that finance estate obligations like tax liabilities, debt obligations, final expenses etc.~
BUT... NOTHING CAN HAPPEN UNLESS YOU TAKE THE FIRST STEP..