Wealth preservation demands more than containing the various risks associated with implementing one’s investment strategy. In fact, prior to retirement, your ability to earn an income is likely your most valuable asset. While group life and group disability coverages are important and valuable benefits in their own right, depending upon one's circumstances group coverage (alone) may be insufficient to offset outstanding liabilities and/or adequately recover foregone wages...

Typically, group and various other self-administered insurance coverages are considered together to provide for:

• Income replacement
• Retirement of mortgage and other indebtedness
• Major purchase
• Education of children
• Retirement lifestyle
• Final expenses, taxes, estate and legacy goals

Extended life benefits too, may be considered along-side existing group coverage – while tax-exempt monthly group disability benefits are intended more-or-less to replicate one's after-tax employment income, benefits may be reduced and/or eliminated as a function of the group policy’s definitions of disability and/or by a member's access to earliest unreduced retirement pension benefits.

Critical Illness Insurance

Critical Illness (CI) is one of several extended life benefit coverages available – providing for a 100% tax-exempt lump-sum benefit in the event of surviving any one of 22 or more insured illnesses. For members aged 40 to 60, a self-administered Critical Illness policy may be an affordable and highly beneficial enhancement to existing group disability coverage; one which may be maintained even after your retirement from education.

Noteworthy too is that the likelihood of suffering a critical illness is statistically far more significant than many other insured perils:

• Catastrophic loss of Home – 1 in 2766
• Catastrophic loss of Vehicle – 1 in 1683
• Probability of Death prior to age 65 – 1 in 146
• Probability of Disability prior to age 65 – 1 in 14
• Probability of a Critical Illness prior to age 65 – 1 in 3
• Probability of Death – 100%
• Probability of Taxes – 100%, though perhaps less…

Contact us today to arrange for a comprehensive analysis of existing and recommended asset, income and estate preservation strategies specific to your goals and needs...

Dale Swan, CSWP, CFP, FMA, FCSI

ScotiaMcLeod Wealth Advisor

Life Underwriter

ScotiaMcLeod Financial Services

Direct: 604-661-7455

Toll-free: 1-800-263-8637

Fax: 604-661-7494

dale@swanprinciple.ca

dale_swan@scotiamcleod.com

ScotiaMcLeod
650 West Georgia Street

Suite 1100, PO Box 11615
Vancouver, BC V6B 4N9