Because in Ontario fund performance sometimes results in a loss, depending on the markets in a given year, we need to ensure that we are receiving good investment advice and pay as much attention to our “sell” strategy as we did to the steps that originally led us to make those promising investments.

The end of the year is a good time to consider selling underperforming segregated funds. We may not be able to revive them, but the right strategy can help minimize taxes and give the holdings one last crack at doing some good for your portfolio returns.

One piece of good investment advice inOntariois to consider if the proceeds from those funds can be used in more promising investments, this could be the time to sell at a loss to improve your year-end tax position for more income tax benefits. 

More good investment advice in Ontario is to recognize the opportunity to ‘sell low’. By redeeming fund units (outside your registered plans such as Registered Retirement Savings Plans) for less than their original cost, you will create a capital loss that can be used to offset capital gains on your income tax return. By reducing your capital gains, you reduce your income tax bill.

You may even be able to use that loss towards income tax benefits by reducing income taxes in future or past years. If you own money-losing segregated funds that are likely to make a year-end distribution, you take advantage of the capital loss for income tax purposes and avoid a taxable distribution by redeeming before the distribution date (generally mid-December).

We need to carefully consider which of your segregated funds holdings are candidates for tax-loss selling. These should be investments that we believe have little opportunity for recovery. We also need to weigh the financial benefits of tax-loss selling in each case.

When we create a capital loss, it must first be used to offset any capital gains earned in the same income tax year. Any remaining losses can be carried forward indefinitely to future years or applied to gains from the previous three years.

Here’s an example of how tax-loss selling can work to your benefit.

Let’s assume you invested $80,000 in a segregated fund a few years ago (outside a registered plan) and sold that investment this year $100,000, for a profit of $20,000. You also sold a money-losing fund investment this year for a loss of $10,000.  You would deduct the $10,000 loss from the $20,000 gain, leaving you with a capital gain of $10,000 for the year. Half that amount must be reported as a taxable capital gain on your income tax return, so you will pay tax on $5,000. You can use a capital loss on any eligible investment to offset a capital gain on any other eligible investment. For example, your segregated fund loss could be used to offset gains from segregated funds, stocks, bonds, exchange-traded funds, or even promising investments in real estate. However, capital losses can normally be used only to reduce or eliminate capital gains, not to offset other income.

There is one important caveat: When you sell a security to claim a capital loss, do not buy that security again for at least 30 days. Otherwise it will be deemed a superficial loss by the Canadian Revenue Agency and you won’t be allowed to use it to reduce taxable gains.

Timing is important. Transactions need to be completed before year-end to qualify for your 2011 income tax return. Please refer to your tax professional or accountant for advice. For more investment advice in Ontario, please contact Gary Mandel by calling (416) 849-1653 or by www.wecoveryou.ca

People get jobs and lose jobs, the stock market goes up and down, unexpected events, and these are just the basics of life. Look at what has happened in your life recently. Some developments that may warrant a visit to your Life Insurance Broker and changes in what you’re paying for insurance can include: marriage or divorce, the birth of children, children growing into adulthood, a death in the family, a new job, a higher salary, an inheritance, or a change in your wealth or debt levels.

Taking the time to review your life insurance options and what you’re paying for life insurance with your Life Insurance Broker also gives you the opportunity to review where your finances have taken you this year. To see whether your portfolio is still in alignment with your goals and consistent with where your life has taken you. It’s not only a chance to review your investments but also review all aspects of your financial life.

Make sure you have enough life insurance because inadequate insurance can lead to financial difficulties or less support for your family in an emergency. Sufficient life insurance coverage will allow you and your family to weather events that could otherwise lead to financial problems.  Having life insurance is good but having sufficient life insurance coverage is key.

Do you need less life insurance coverage? There are lots of life insurance options and there’s no point in paying for life insurance that you no longer require. Instead, your Life Insurance Broker can suggest you consider diverting the money you’ll save on premiums into savings and investments.

Have you considered more than just life insurance coverage? An annual review of your life insurance coverage with your Life Insurance Broker of what you’re paying for life insurance and what you’re life insurance options are is the best way to assess whether your coverage is adequate. It’s also a great way to ensure that you’re making the best use of all the insurance products you need to guard your financial security and that of your family. While life insurance is central to coverage, your Life Insurance Broker should explore possibly unanticipated needs such as long-term care coverage, critical illness insurance, and disability insurance. Together, you can review your life insurance coverage and other life insurance options to ensure you have the peace of mind that comes from knowing you’re well covered for 2012.

For more information about Life Insurance coverage and the life insurance options that are available you can contact Gary Mandel by calling (416) 849-1653 or by visiting www.wecoveryou.ca

1. Life events – Some of the key developments that can call for life plan insurance changes can include marriage, divorce and a change of income. For example, perhaps you need to increase insurance coverage because your family is larger and you want to leave more for your heirs. Alternatively, perhaps you no longer have a need for as much insurance because you’ve built up wealth, paid off your mortgage and your kids have finished their schooling.

A review of your life plan insurance might even reveal how we can save you money on life insurance coverage. So for instance, if your health has changed for the better by losing a great deal of weight, your high cholesterol has dropped or you’ve quick smoking — we might be able to take advantage of the breaks on life plan insurance premiums some insurers offer under those circumstances.

2. Beneficiaries may change over the course of your life. One thing we should always review is your beneficiaries. Since they’re the ones who receive the proceeds of your policy, it’s important that we always make sure they’re who you want them to be and that you’re taking care of them in the best way possible.

You may want to make beneficiary changes as you go through life, to accommodate new children or grandchildren or even to leave insurance proceeds to your estate so they can be distributed through your will. It depends on your current and changing situation and your financial goals.

3. Your financial situation circumstance could affect your life plan insurance needs. We should explore your insurance coverage in relation to your overall financial picture. Remember, insurance is just one part of a long-term financial strategy, which means the coverage that’s right for you depends on other aspects of your financial life.

If your life insurance policy includes an investment component, we can explore how it fits in with your overall plan. We’ll examine its investment performance and consider the best ways to use the cash value.

Together, we can determine whether the types of policies and the levels of coverage you already have are still appropriate for you and your family. If changes are appropriate, we’ll make recommendations. Let’s discuss your life insurance coverage at least once a year. Then you’ll have the peace of mind that comes from knowing you’re well covered.

For more information about life plan insurance and keeping your insurance coverage current please contact Gary Mandel by calling (416) 849-1653 or by visiting www.wecoveryou.ca

Here are the ins and outs of leaving your life insurance to your estate. Naming an estate as your beneficiary designation can be a good choice when you want the proceeds to meet non-traditional life insurance needs — meaning, other than to provide for a spouse or children – or needs that go beyond individual beneficiaries.

When your beneficiary designation is your estate, the proceeds of the policy are distributed according to the terms of your will, along with your other property. Your insurance proceeds are brought together with all your other assets.

Consider whether you think you’ll need to change your estate plan as you move through life. Naming your estate as your beneficiary means changes can be made more simply: through your will. You won’t have to worry about changing beneficiaries on insurance policies.

Here are some other reasons you might want to consider naming your estate as your life insurance  beneficiary. You can use this strategy to:

Leave money to charities. You can specify in your will how much of your estate goes to each charity and change your instructions at any time, without naming charities as life insurance beneficiaries. Set up a trust. Leaving cash to an estate can sometimes make it easier, as the will can dictate the setup of trusts for children. This can be useful when you want to specify how money left to children is to be spent or to make provisions for children to receive funds when they reach a certain age.

Pay expenses. You can use life insurance proceeds to pay costs associated with your estate. These can include final expenses, debts and tax liabilities. There are a couple of caveats you should be aware of when considering naming your estate as the beneficiary of your insurance policy. They include the fact that policy proceeds (along with the rest of your estate) may be reduced by the cost of probate — the legal process that validates the authenticity of a will. Probate can also delay distribution of assets and your estate may be subject to legal claims from creditors.

However, under the right circumstances, the advantages of naming an estate can outweigh these considerations. If you name your estate as a beneficiary, it’s important to make sure your will is always up to date.  Together, we can explore when and where insurance proceeds will be needed and determine whether naming your estate as beneficiary makes sense for you. For more information about beneficiary designations and whether to name an individual as your life insurance beneficiary or your estate contact Gary Mandel by calling (416) 849-1653 or by visiting www.wecoveryou.ca

Helping your parents make a retirement plan is about their needs, not yours, and retirement planning is not always an easy discussion to have. Parents may see your attempt to discuss their retirement plans as an intrusion – especially in families where talking about money is taboo. They may even fear that you’re trying to take control of their money. But it’s important because one or both of your parents may become ill or incapacitated and unable to manage their finances in the future.

In addition, the health care in Ontario leaves much to be desired and so if your parents want to retire in comfort, a strong retirement plan will be key. Retirement planning in Canada could consider their life insurance needs, long term care planning, critical illness coverage and more. It all depends on your parent’s health, financial circumstances and future desires.

They should be aware that without thoughtful planning, how they are cared for at that time could be entirely out of their control. It’s about their needs, their comfort and how they want to be cared for.

Don’t wait for a crisis. Talking to your parents and planning ahead for their retirement will help make sure their wishes are carried out, and potentially eliminate squabbles among family members if your parent’s
wishes aren’t clear.

Retirement planning in Canada is really important and helping your parents see the benefits when making their retirement plans can make the conversation much easier.

You can avoid problems and alleviate worries concerning their retirement planning by showing your parents the benefits of sharing their financial information. Let them know that it will be easier for you to help them in the future if you have the information now. Stress that it’s important for them and their family, financially and emotionally. Some discussion points when discussing retirement planning in Canada include:

• Do your parents have up-to-date wills? If so, where are they kept?

• Do they each have powers of attorney (both for property and health care)?

• Who are the executors in their wills, and has this decision been reviewed lately?

• Will they have enough funds to continue living comfortably? To plan, they need to provide details of assets, liabilities, income and expenses, and details of financial accounts — or at least where accounts are held. As well, contact information for financial and legal advisors is necessary.

Don’t be afraid to seek expert advice. We can prepare you for a talk with your parents about finances. And if it will help, we can be part of the discussion. For more information about retirement planning in Canada and helping your parents make their retirement plans contact Gary Mandel by calling (416) 849-1653 or by visiting www.wecoveryou.ca

More to choose from and contrary to what many believe, emerging market bonds aren’t as risky as they once were and have proven to be a high yield investment.

Segregated funds don’t have to be confusing. A large percentage of emerging market bonds are higher-quality “investment grade,” unlike a decade or so ago. According to a major U.S. financial institution survey, 56% of emerging markets bonds is now investment grade, up from 17% in 1998. Plus, the difference in yields between emerging and developed markets can be considerable — often double or more for similar government bonds. For example, according to Bloomberg data, as of January 31, 2011, 10 year U.S. treasuries yielded 3.4%; meanwhile, 10 year government of Brazil bonds yielded 13%. That can make a significant difference in your portfolio’s fixed-income returns.

Certainly, part of that yield difference stems from the fact that emerging market bonds must pay higher interest to compensate investors for the risk of investing in emerging countries. Many emerging countries have environments of chronically higher interest rates, in which bonds must compete for investors’ cash. Latin American economic powerhouse Brazil, where central bank rates are among the world’s highest, is an excellent example.

Foreign-exchange risk must also be factored into your decision. Yet Brazil, like several other emerging economies, has had its sovereign credit ratings upgraded in recent years. The reason is emerging market governments and central banks have become much better at managing economies and tempering boom-and-bust cycles.

In fact, some emerging economies fared better than their developed counterparts during the recent recession and have since returned to much higher growth rates. Finding opportunity in segregated funds emerging debt markets can be difficult to navigate. We recommend the professional money management of segregated funds that invest in emerging market bonds.

The selection of segregated funds available to Canadians is growing in recognition of the fact that emerging market securities are in demand and that they offer Canadians an alternative to traditional developed country bonds or corporate bonds.

Emerging market bond funds usually focus on bonds issued by governments, although some may hold debt issued by corporations. They typically aim for a combination of income and capital growth through potential appreciation in bond prices. We should look for funds that diversify holdings among geographic markets and bond types to help maximize returns and manage risk. You can also get exposure through international funds that hold debt securities of both developed and emerging markets.

We’ll be pleased to show you how emerging market bond funds can help boost your fixed-income returns, improve the diversification of your overall portfolio and help you reach your financial goals.

For more information about segregated funds and high yield investments please contact Gary Mandel by calling (416) 849-1653 or visit www.wecoveryou.ca

Your evolving insurance needs depend on your current and changing life situation and your financial goals. Insurance changes should be based on an exploration of the key aspects of your life and adjusting your life insurance coverage in Ontario to better reflect your current insurance needs.

Here are three to consider:
1. Life events – Some of the key developments that can call for insurance changes include marriage, divorce, birth of children, change in income or a sudden change to your wealth. For example, perhaps your insurance needs change because your family is larger and you want to leave more for your heirs. Alternatively, perhaps you would be better suited to consider insurance products that offer a tax benefit as one example because you’ve built up your wealth, paid off the mortgage and your kids have finished their post-secondary education. A review might even reveal how we can save money on life insurance coverage. For example, if your health picture has changed for the better – perhaps you’ve lost a great deal of weight or your high cholesterol has dropped – we might be able to take advantage of the breaks on premiums some insurers offer under those circumstances and make the necessary insurance changes.

2. Beneficiaries – One thing we should always review is your beneficiaries. These are common insurance changes since they’re the ones who receive the proceeds of your policy, it’s important that we always make sure they’re who you want them be and that you’re taking care of them in the best way possible. You want to make beneficiary changes as you go through life to accommodate new children or grandchildren. When naming a person as your beneficiary, instead of your estate, the proceeds will be passed on directly to your named beneficiary. This will be private, not public record, and they will bypass probate fees. Your insurance needs depend on your current and changing situation and your financial goals.

3. Your financial situation – We should explore your life insurance coverage in Ontario in relation to your overall financial picture. Remember insurance is just one part of a long term financial strategy, which means the coverage that’s right for you depends on other aspects of your financial life. If your life insurance coverage policy includes an investment component, we can explore how it fits in with your overall plan. We’ll examine its investment performance and consider the best ways to use the cash value.

Discuss your life insurance coverage with your Ontario Insurance Advisor at least once a year. Then you’ll have peace of mind that comes from knowing that you’re well covered. For more information how you can review your Life Insurance Coverage in Ontario contact Gary Mandel at IFCG by calling (416) 849-1653 or by visiting www.wecoveryou.ca

Here are some statistics:

• About 50 thousand strokes occur in Canada each year. This is the leading cause of transfer from hospital to long term care.
• 1 in 11 Canadians over 65 is affected by some sort of dementia disease such as Alzheimer’s.
• 7% of Canadians age 65 and over reside in health care institutions.

Private home care services allow individuals to remain at home surrounded by family and friends. It allows them to continue to contribute to their community. This also makes it easier for families to continue caring for their loved one.

Receiving that care in the comfort of your own home can be a way to recover from a long illness. This can also include palliative care, but no matter what the reason might be, private home care in Ontario is costly. This is why, if you would prefer to have private home care should the need arise, you should begin long term care insurance planning today so that you can meet those costs.

The level of private home care coverage in Ontario that is offered by insurers differs. Some policies might offer less financial aid for private home care than for institutional care. When planning long term care in Canada, you should consider how much private home care would cost where you live. Since costs vary throughout Canada, it’s important to be realistic. Unfortunately, many communities have a shortage of qualified home care workers. If access to private home care is important to you, then you need to keep that in mind for your decision with long term care insurance planning. You want to ensure that if you need it, home care will be affordable to you.

To be able to afford the best long term care and minimize your costs, the sooner you start planning the better. Long term care insurance planning in Ontario begins with your Ontario Insurance Agent. Long term care in Canada continues to face increased pressure and quality of care has suffered as a result of low staffing and poor living conditions. This is not how you want to live once you retire and the best way to be in a position to afford in-home care is to start long term care insurance planning now. This will give you peace of mind, knowing that your long term care is covered.

For more information about long term care insurance planning for when you need private in-home care in Ontario contact Gary Mandel at IFCG by calling (416) 849-1653 or by visiting www.wecoveryou.ca

Chances are you’re going to pass along the bulk of your wealth to your children. You’ll feel better if you know that your children are able to manage money and will be able to draw the maximum benefit from their inheritance in Ontario.

According to a poll conducted by one of Canada’s big five banks, only 58% of respondents said they were confident that their children would be able to properly manage money left to them. Your children’s behaviour towards money and the financial management fundamentals that they will need is extremely important and there are steps you can take to provide your children the information they will need to manage money they receive wisely.

Knowledge is key. Teaching your children financial management fundamentals is the first step to preparing them for the future. This is where an Ontario Insurance Advisor can come in very handy. There is a wealth of books, workshops and websites that will aide in teaching your children the basics of sound investment management. You can also work with a local Ontario Insurance Advisor to come up with a plan to prepare your children to manage their inheritance.

Many parents worry that their adult children will squander an inheritance by spending it away bit by bit, instead of using it wisely to provide for their own futures. Teaching your children how to manage money is positive in many ways. Share your insight. You know from your own experience that effective wealth management means focusing on making wealth grow overtime, through sound long-term investments, effective tax moves, and a host of other strategies that reinforce wealth accumulation.

Effective estate planning will include a combination of choosing the right insurance products and ensuring that your children are fully equipped to manage the proceeds properly in the event that they end up inheriting. For more information on financial management fundamentals for your children who will receive an inheritance, please contact Gary Mandel at IFCG by calling (416) 849-1653 or by visiting www.wecoveryou.ca

The number of threats and pitfalls of operating laptop computers are more severe and more frequent than they once were. Many Insurance Advisors in Ontario are mobile and are using laptops, so it has become increasingly difficult to protect data.

Insurance Advisors are provided with the most sensitive client data that includes but is not limited to medical, personal and financial information. We sometimes hear in the news that technology giants like Sony have had their client data hacked and when we hear these stories we quiver because this could result in identity fraud and a number of other serious outcomes.

In the US the Pentagon Federal Credit Union, a bank used by nearly 1 million U.S. service members, a single hacked laptop led to a much bigger problem. The company found that someone had hacked a laptop on its network and used it to access a company database that contained credit card numbers, addresses, Social Security numbers and other sensitive information.

Protecting client data can be expensive for an Independent Insurance Advisor and so sometimes it is not made a priority when it should be a top priority. This is why it is very important that consumers choose an Insurance Advisor who is part of an MGA (Insurance Brokerage) that takes protecting client data seriously. On the same point a consumer has every right (and should) ask their insurance advisor what their privacy policy is and what measures the organization takes to protect their client’s personal information.

On the flip side, an Insurance Advisor who is changing MGA’s or is entering the business and choosing an MGA, should be concerned with the issue or privacy as it relates to computing. Our brokerage has spared no expense in this regard because the integrity of our client data is so important.

We take great measures to ensure that our client’s data is protected and we also ensure that our agent’s data is protected by providing them with access to the same technology we use as an MGA. This month we will be co-championing a webinar with “NoPanicComputing” in an effort to keep our agents informed of the threats out there and what they can do to prevent their client’s personal information from threat of being hacked.

For more information about how Ontario Insurance Advisors can protect their client’s personal information, contact Gary Mandel at IFCG by calling (416) 849-1653 or by visiting www.ifcg.com OR or to participate in this beneficial Webinar by registering https://www3.gotomeeting.com/register/573635430

It’s in your best interest to do lots of research before making a commitment. If you find an MGA that you are thinking of joining, begin by asking lots of questions. Whether you are an experienced Broker with an established, high-performing business or if you have just started out, whether you are a captive agent or you are placing your business with several MGAs, here is some important information that no MGA wants to talk about.

1. What is their application turnaround time? One major challenge that Brokers face with their MGA is insurance applications getting processed painfully slow and having no control over it. The average processing time for insurance applications with an Attending Physicians Statement is an additional 19 days. An aggressive MGA can get this accomplished in half the time.

2. Is there a guaranteed call back/turnaround time? Some MGAs don’t return calls on time, and when they do, they don’t have all the answers. This can make servicing clients challenging.

3. What is their compensation structure? Some MGA’s compensation plans are not based on individual production and/or performance. That can result in weaker producers actually earning higher bonuses than higher producing Brokers.

4. What are their policies about you switching MGA’s (in case it doesn’t work out and you want to in the future)? Many MGA’s will make it difficult for you to move your license to another MGA in the event you decide you want to leave. It is important that you understand their expectations from the get-go.

5. Can you have direct access to Insurance Underwriters at the insurance companies? Many MGAs don’t like you to call the underwriters asking for help. In fact, they don’t even want to speak to the underwriters on your behalf. They feel their relationship with the underwriters will be at risk if they hassle them too much. They don’t want you to call them either, for the same reason. There may be occasions where you need to call an Insurance Underwriter to get your client the best deal.

Finally, you will be able to give your clients more options and you will be more competitive, if you choose an MGA that deals with all of the major insurance companies, as opposed to being exclusive or partial to just one. If you would like more information about how to choose the best MGA please contact Gary Mandel at IFCG by calling 416-849-1653 or by visiting www.ifcg.com

In August 2011, the American government had its credit score downgraded from AAA to AA. The week following that announcement saw the American Stock Exchange suffer significant losses. In turn, the investment companies turned to the media to urge investors (both in Canada and the US) not to panic. That’s easy for them to say, it’s not them who have their entire life savings invested.

Some Canadians are choosing to turn to more traditional, lower risk investment vehicles, such as Segregated Funds. Segregated Funds can be purchased on a “low”, “medium” or “high” risk basis. Those who don’t have an appetite for risk can select a “low” risk Segregated Fund and still enjoy great returns.

In Canada, Segregated Funds always carry fantastic tax incentives. When you purchase Segregated Funds in Ontario, you can deduct the value of the Segregated Fund from your income at the end of the year when you file your tax return. The result is less taxable income.

Many Ontario insurance companies offer Segregated Funds. Many Life Insurance Advisors can arrange the purchase of a Segregated Fund on your behalf. Dealing with a Life Insurance Advisor carries a number of benefits, the main one being more choices are offered to you. A Life Insurance Advisor can tell you about products offered by both financial institutions and Ontario insurance companies.

If you are planning to purchase a Segregated Fund, you should first look at your tax return to see what your RRSP limit for the year is. If you want to invest more than your limit, you could also consider talking to your Life Insurance Advisor about the Tax Free Savings Account. You can leverage the Tax Free Savings Account deposit up to $5,000 per/year, and let it grow tax free!

To find out more about making a good investment and low risk Segregated Funds offered by Ontario Insurance companies visit www.wecoveryou.ca

Critical illness insurance in Ontario is not like life insurance (something that protects you if you pass away). Critical illness insurance protects you if you survive a critical illness. Critical illness insurance policy holders will receive a lump sum payment in the event that they suffer from a critical illness, provided they survive 30 days from the date that they suffered the critical illness.

So what is classified as a critical illness? The number of illnesses that are classified as critical illnesses would stun you.

Heart attack, stroke, cancer, dismemberment, severe burns, Parkinson’s Disease, Alzheimer’s Disease, major organ transplant, blindness, coma, Multiple Sclerosis, hearing loss, paralysis, loss of speech, kidney failure, bypass surgery, motor neuron disease (ALS), coronary bypass, major organ failure (on transplant waiting list), aortic surgery, benign brain tumour, heart valve replacement, kidney failure and occupational HIV infection are all classified as critical illnesses.

The Public Health Agency of Canada has reported that in 2009, about 315,000 (1.1%) of Canadians living in the community reported that they suffer from the effects of a stroke. Between one-third and two-thirds of stroke survivors will experience a loss of function in physical, cognitive or communication skills that require some form of rehabilitation.

The Canadian Cancer Society has posted that an estimated 177,800 new cases of cancer (excluding about 74,100 non-melanoma skin cancers) will occur in Canada in 2011.

Is this a harsh reality? Absolutely. Many folks view themselves as having lots of, or at least adequate insurance coverage and in many situations this is not the case. Sometimes, especially when there are many household financial obligations and so many insurance options, it may be challenging to determine which insurances and premiums fit within your budget and which are necessary.

Critical illness insurance really is a “win, win” insurance. The reason for this is, if you don’t make a claim during the first 15 years of your policy you will be eligible to receive 100% of your insurance premiums returned to you. This is only one reason that critical illness insurance is such an attractive insurance product.

Figuring out the right insurance coverage can feel overwhelming and it seems no matter where you turn (your bank, car insurance provider, mortgage provider, etc..) it seems that there is always someone selling something. Your best bet, if you want to find out what the right combination of insurance is for you, is to speak with a Life Insurance Agent. Life Insurance Agents also sell critical illness insurance, disability insurance, long term care insurance, mortgage insurance, financial products and more. A Life Insurance Agent will be able to tell you what insurance you should have and will quote all of the insurers (including the banks) to get you the best deal. For more information about critical illness insurance in Ontario and critical illness insurance policies please visit www.wecoveryou.ca

There are a number of insurance positions in Ontario available to those who have obtained their license to sell insurance. Generally, these opportunities are offered by one of three types of organizations:

• Insurance Companies
• Banks
• MGA (Managing General Agent)

If you obtain an Insurance Agent position in Ontario with an insurance company or a bank, you will be required to sell their products and services, even if you work as an independent agent. The main benefit to obtaining a position selling insurance and financial products for an insurance company or bank is the brand recognition you will gain by being associated with that particular institution. This could be a positive or a negative, because if your bank or insurance company is receiving negative media/press or is less competitive than other insurance companies, this will have a direct impact to your book of business. Another downfall for working with a bank is that you will have limited access to insurance products.

If you obtain a position with an MGA, you will be able to arrange insurance and other financial products for your clients, with a number of different insurers. This is one reason why it is important to choose the right MGA. You work for yourself & the client, not the bank or insurance company.

As an Insurance Advisor, you will be more successful if you offer the most competitive products and choices to your clients. Smaller MGA’s may be registered to deal with fewer insurers or be partial to a particular insurer. If you are in the insurance industry then you know that managing your client book is like running your own business.

If you are looking for an Insurance Agent position in Ontario, with an MGA, research the MGA’s online. If you find one online that interests you, try to find information that answers the following questions:

• How well known is their brand?
• Are they a credible brand?
• How many Insurance Advisors are signed onto their company?
• Do they advertise?
• What kind of training and resources do they offer their Insurance Agents?

These are all important questions to consider. You are making a career decision when deciding to work with an MGA or even an insurance company or bank for that matter. If you are thinking about making a leap from your current MGA to another one, contact the principal of the MGA and set up a meeting to speak with them about your career aspirations. A large enough MGA with good management will almost always consider giving an opportunity to an Insurance Advisor who is eager to pursue insurance as a career. For more information about Insurance Agent positions in Ontario and opportunities in the life insurance industry please visit www.ifcg.com

Some are steering away from the stock market and other higher risk investments, largely due to the turbulence in the economy over the past few years. Nowadays, people are turning towards safer investment products.

When you think about investing, the first place you may think to turn to is your bank. You may also consider consulting an Investment Advisor. The issue is that a bank can only expose you to their products and an Investment Advisor may recommend a product that is higher risk than you have an appetite for.

Believe it or not, Life Insurance Agents do not just arrange life insurance. Some insurance brokerages offer financial products. Outside of the available insurance products that carry financial incentives, many insurance companies offer RRSPs and tax free savings accounts.

An RRSP can be arranged as low, medium and high risk. A low risk RRSP will offer a good return with the lowest risk. Those who have a low appetite for risk are suitable for a low risk RRSP. If you already have RRSPs but prefer the features & benefits of an insurance company RRSP such as maturity and death benefit guarantees of up to 100%, creditor protection and bypassing probate, you can transfer it (if you don’t owe a loan against it), without paying a penalty.

When you purchase RRSPs, you can deduct your RRSP contributions from your income at the end of each year, thus reducing the income taxes you will have to pay. Even a $5,000 annual RRSP contribution can make a major difference when tax time comes.

Tax free savings accounts in Ontario are also offered by Ontario insurance companies and can be arranged through an Ontario Life Insurance Agent. A tax free savings account enables you to save up to $5,000 each year, tax free! Families use the tax free savings account to plan and save for expenses such as their children’s education, a down payment on a house and more.

There are different types of Life Insurance Agents in Ontario. Some work for a single insurance company and others work with all insurance companies. If you want to learn about how you can obtain financial investment products through an Ontario Insurance Agent, you will get the most benefit from dealing with an Ontario Life Insurance Agent who deals with all of the major insurance companies. That way you can find out about all that is available to you without having to call a litany of insurance companies yourself. To find out more about tax free savings accounts and RRSP investing with Ontario insurance companies to save on income taxes in Ontario please visit http://www.wecoveryou.ca or call 416-849-1653.

Term insurance products offer low premiums, therefore they often don’t provide the ability for you to be eligible to receive your insurance premiums back, even in the event that you don’t make an insurance claim.

Insurance premium return policies are available on critical illness and disability insurance policies. They offer up to 100% of your premiums back after a certain amount of years if you don’t make a claim.

Outside of the very obvious benefits presented with insurance premium return policies, these insurances provide crucial benefits to protect your income and your livelihood in the event you suffer a critical illness or disability. They also ensure that your family is cared for in the event of death.

Did you know that in 2001 there were over two million Canadians of working age who were disabled where physical injury wasn’t the only cause? Amongst office workers, absences due to nervous disorders, including stress triggered conditions, have become the leading cause of disability in Canada today.

At any time something could happen that could disable your ability to work. Many policies offered by employers are just not enough. Over time they may reduce the percentage of your income that they will pay to you while disabled and may even require that you are assessed by their doctor, in an effort to get you back to work.

If you are in a job that is high stress, it is important to remember that many critical illnesses, such as heart attacks, can be brought on by stress and can often occur in seemingly healthy individuals when they have a high stress occupation. The scary thing about critical illness is that a critical illness is called “critical” because if it occurs it will, in many cases, render the individual incapacitated for an extended period of time. Some examples of critical illness in addition to heart attacks include cancer, stroke, kidney failure and more. Other critical illnesses such as Alzheimer’s disease cause a slow deterioration to the individual over long periods of time, at which point care is expensive.

The primary reason you should consider insurance is to protect your income, livelihood and family. Many folks make the mistake of calling an insurance company directly and consequently purchasing the most affordable product available, when often there are other products that carry perks such as insurance premium return.

The best thing to do is consult a good Life Insurance Broker, one who deals with all of the top rated insurers (not just one), finding you a policy that provides the maximum benefits at the lowest available premium. For more information about insurance premium return insurance in Ontario please visitwww.wecoveryou.ca or call 416-849-1653.

That’s why, generally, life insurance, disability insurance, critical illness insurance and most other personal insurance products will increase the premium they offer you depending on:

- Your age
- Health
- Habits (Smoking etc.)
- Medical History
- Family History, etc.

Another measure that will factor into how your insurance premium is calculated is the term. With life insurance, disability insurance and critical illness in Ontario you can purchase a 10 year term policy, 20 year term policy or a policy that lasts for life. This is referred to as your insurance policy term.

During your insurance policy term, your insurance company cannot revoke your insurance or increase your insurance premium. Even in the event that you have a health problem, move to another country, change income sources, start a bad habit – as long as you make your insurance payments, your insurance company must honour your insurance policy terms throughout the insurance term.

Anytime you are looking at any insurance product whether it is a 10 year term insurance policy, 20 year term insurance policy or a policy that lasts for life, the shortest term policy is almost always the cheapest insurance option. For example, if you were looking for a term life insurance policy, a 10 year term life insurance policy would be the cheapest option.

As mentioned you can obtain life insurance, disability insurance and critical illness insurance that guarantees the insurance premium will never increase for the life of the contract. These policies are often more expensive than the term insurance option but can carry perks that make the additional cost worthwhile.

Critical illness insurance is a great example of an insurance product where you can get an insurance premium that will be guaranteed for life, and carries an extra bonus. After 15 years, if you don’t make an insurance claim you can receive 100% of your insurance premiums paid back to you. At that time, if you don’t want to cash out, you can continue making your monthly payments at your guaranteed premium and rate of payment. As you get older and become at higher risk of having a critical illness, you will enjoy a low critical illness insurance payment and will have excellent critical illness protection. You can choose to cash out all your premiums at any time after 15 years.

Whole life insurance also guarantees your insurance premiums for life and carries major income tax incentives.

A qualified Life Insurance Agent will be able to assess your personal circumstances and recommend the right product for you, ensuring the lowest rates. For more information about insurance “premiums that do not increase” and for all Ontario insurance products please visit http://www.wecoveryou.ca or call 416-849-1653.

Most people feel secure when they obtain a job that offers disability insurance as part of their benefits package. The problem is that only relying on your employer’s disability insurance provides short term gain (low disability insurance premiums, deducted at the source) with long term consequences.

If you become unemployed you will no longer be insured. Here are the two main reasons why Disability Insurance in Ontario is something that the primary income earner in any household should have:

Once you do not have an income, you will not qualify for Disability Insurance in Ontario.
The cost of disability insurance premiums in Ontario increase as you age. Additionally, if you become unemployed, obtain new employment and then realize that you need additional disability insurance, your premiums will be much higher than they would have been if you had started contributing to a disability policy at a younger age.

Most insurance providers offer a number of different disability insurance products that provide different benefits. There is term disability insurance that offers the lowest disability insurance premiums.

There are other disability insurance policies that return part of your premiums if you don’t make a claim, and policies that will guarantee your premium for the life of your contract. A good Life Insurance Broker will be able to compare the different disability insurance products and provide you with information about the costs and benefits.

One you have selected a disability insurance product that suits your needs, the insurance company will present you with an insurance policy. Your disability insurance policy is a contract. Once the insurance company signs off on your disability insurance contract, it is binding for the insurance company. They can’t make any changes to your contract, but you have the right to.

If you were to suddenly find yourself unemployed and while unemployed suffered a disability, your disability insurance policy would provide you the amount of coverage and income agreed upon at the time you signed the contract.

Also, if you obtain a disability insurance policy that guarantees your premiums for the life of your contract, when you are older, you will enjoy very low insurance premiums and maximum income protection. For more information about disability insurance in Ontario please visit www.wecoveryou.ca or call 416-849-1653.