Plan Today to Protect TomorrowThere are many predictable
changes most of us experience in our lives. Parenthood, buying a house,
entering or leaving the workforce, health challenges and relationship
changes are all examples of regular life transitions. Effective financial
security planning will prepare you financially for those life transitions.
Risk products like life insurance are the foundation of a sound financial
security plan. Life insurance's primary goal is clear: to protect assets
and future income from catastrophe and to provide financial security at
death. However, life insurance also adds value in other aspects of your
life. RetirementMost Canadians look forward to retirement, with the hope
of traveling the world or starting their own business. However, some
don't always have an effective retirement plan in place to achieve those
goals.A permanent life insurance policy allows you to accumulate cash
values inside the life insurance policy, within certain legislative
limits, without paying income tax on the growth. The cash value can be
accessed to provide a retirement income. You may be able to use the
policy as collateral for a consumer loan or the cash values could be used
to help finance a business opportunity, protect your spouse's lifestyle or
provide3 income to pay for long term care. As well, the combination of a
single-life annuity pension and a permanent life insurance policy can
maximize your pension income and provide future funds for a surviving
spouse after your death.
Agata Kozlowska - www.agatakozlowska.com -
agata.kozlowska@freedom55financial.com