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Fall 2022 Thumbnail

Fall 2022

2022 Fall Newsletter 

Autumn is upon us and that means school, Halloween and sport activities for many families. As a mother of two I understand how precious the time we have with our kids (and grand kids) really is. I would love an opportunity to chat with you about how you can protect your family today while also planning for the future.With Critical Illness insurance and Whole life insurance you can do just that! Whether you have young kids of your own or want to gift a lump sum policy to your grandchildren, these are both fantastic options.

Critical illness insurance

When your child is sick, the only thing that should be on your mind is their recovery. Unfortunately, when a child is diagnosed with a critical illness, there is a ripple effect that touches the whole family. Between taking time off work to tend to your child, to paying for treatments or rehabilitation equipment, critical illnesses can be catastrophic not only emotionally but financially.

How it works:
 Upon diagnosis of a covered condition, a claim is submitted and once approved a lump sum is paid out to you, the policy owner. You are then able to use the funds however you need it the most, for example: · Subsidizing lost incomes (rent, mortgage payments, bills) · Hiring a nanny to assist with childcare or babysitters and tutors · costs not covered by group insurance (medications/ supplies/ treatment) · hospital parking etc. But beyond providing financial support many critical illness products provide additional benefits such as access to medical specialists and professional counselling. Critical illness insurance can bring you great peace of mind knowing you have a financial safety net should your child fall seriously ill. Once they reach adulthood, they can easily acquire ownership of their policy and bring the policy full circle to protect their own family.

Whole life insurance

As a parent or grandparent, you can purchase a permanent life insurance policy on the life of your child or grandchild. As you pay into the policy, this creates cash value. At some point in the future, you can transfer the ownership of the policy over to them so he or she can access the cash value to meet current or future financial needs.

How it works: 
Permanent or whole life insurance policies are incredibly flexible to meet your short-term and long-term goals. Here are just some of the benefits: · Guaranteed premiums · Option to pay up the policy in 10 or 20 years · Payor protection, ensures the premiums continue should the person paying for the policy becomes totally disabled or dies · Hands-off investment options that offer tax-advantaged growth · Deposit options to help maximize the growth and value in the policy · Additional insurance can be purchased without evidence of insurability Something to remember: Buying a policy for a child while they are young and healthy is much easier and affordable than obtaining coverage as an adult. This is because you lock in their premiums at lower rates and prevent future lifestyle choices and career paths from making them uninsurable.

If you or anyone you know would benefit from critical illness, whole life insurance or could use a review of their insurance needs please contact our office, I would love to speak to you!

Copyright (C) *March 2022* *Integral Financial Inc.*. All rights reserved.


If you value our services — REFER a friend or family member! Office: 604-542-3660 Mailing address: 102-20171 92A Avenue Langley BC V1M 3A5

Call 1-604-542-3660