Assessing Your Needs
I am a registered life and disability insurance professional able to assist you with all your individual and business insurance needs.
Your Most Valuable Asset
The most valuable asset you have currently is your ability to earn an income. This is at the heart of your ability to succeed with a financial plan and to becoming financially independent. There are two uncontrollable events that could affect your family's financial success. Death or Disability can result in an abrupt end to your family's income. Insurance plays an effective role in replacing an income stream when death or disability strikes.
The risk associated with becoming disabled are substantially higher than those associated with death, auto accident or house fire, yet many people fail to effectively manage the risk associated with disability. When disability strikes, income declines and expenditures can increase. Medical expenses and supplies can be substantial. Your problem is how to meet these costs. Your options include accessing your savings, borrowing to cover the costs, having your spouse take a second job, or liquidate your assets (RRSP's Home etc). Each of these options has a number of drawbacks and therefore the most logical way to manage the risk is with adequate diability insurance.