Foundation

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Insurance

Wills & Power Of Attorney

Protect Your Income & Assets With Insurance, Wills & Power of Attorney

Insurance

Insurance is an essential component to the Foundation of your Financial House.  It will protect you and your family against a financial loss in the event of death, disability or a critical illness.  At the Blackmore Levy Group, we offer a full range of insurance products and services which provide our clients with personalized & customized solutions to meet all their needs.

Life Insurance

Life insurance is an essential financial tool that can make all the difference to your loved ones in the event of your death.  It will allow them to enjoy the lifestyle you planned for them while they grieve without the added burden of any financial hardship.   Life insurance is truly the foundation of your financial house and everything else is built around it.  The named beneficiary would receive the proceeds tax-free and would then be protected from any financial impact.  So if someone in your life will suffer financially when you pass away, you probably need life insurance.

Critical Illness Insurance

Critical Illness Insurance is your protection from a life-threatening condition.  Most critical illness policies will provide you with a lump sum payment if you are diagnosed with a specified life-threatening illness, such as cancer, heart attack or stroke.  This payment is tax-free and can be used in any way you like.  It could help you and your loved ones as you could stop working, buy private medical care, travel for treatment outside of Canada or maybe take the last trip with your loved ones.

Disability Insurance

Disability Insurance is your financial protection, it will replace a portion of your income should you become disabled and are unable to earn an income.   A disability can result from a number of causes, including an injury, a serious illness or a mental health issue.  The fact is, a disability can rob you of your ability to earn a living but your bills don’t stop.  So with Disability Insurance, you can still provide for your loved ones while you are recovering from your disability.  By the way, the duration of the disability can be either short or long-term.

Mortgage Insurance

Mortgage Insurance is a form of insurance specifically designed to protect the repayment of your mortgage.  So if you were to die while the mortgage life insurance was in force, the policy would pay out a capital sum that will cover the outstanding mortgage and hopefully, any other additional benefits will be paid to the designated beneficiaries.

Health and Dental

Extended Health and Dental plans provide you and your family with a wide range of healthcare, vision and dental benefits.  These days there are so many to choose from so let us help you decide which plan would be the best plan for you and your family.

Business Insurance

Key Person Insurance is an insurance policy taken out by a business.  It’s to compensate the business for any financial losses that would arise from the death or extended incapacity of any of the important members of the business.  So if you are an important member of your business, you probably need Business Insurance.

Long Term Care Insurance

Long Term Care Insurance provides nursing-home care, home health care, personal or adult day care coverage for individuals above the age of 65 or if you have a chronic or disabling condition that needs constant supervision.  LTC insurance offers you a lot more flexibility and options than many public assistance programs do not.  So if this is something that worries you about you or your loved ones, please let us help you put your mind to rest.

 

Wills And Power Of Attorney

Preparing A Will

A person’s will is a written document that sets out their instructions for what should happen to their estate (property) after their death.  It also names a person (formerly known as an executor but now called an estate trustee) who will carry out the terms of the will.

When a person dies without a will, there are laws that determine what happens to their property and what the process is before their estate can be dealt with.

Power Of Attorney

A power of attorney is a legal document in which one person gives someone else the power to act on their behalf.  In Ontario, there are laws that set out the two types of power of attorney that can be used if a person becomes incapable: a power of attorney for personal care and a continuing power of attorney for property

Looking after our estate, whether it’s big or small is very important.  Please make sure that you do have a current legal will and power of Attorneys as most people, unfortunately, do not.

So make an appointment and go and see a Lawyer so that will have a piece of mind knowing that you’ve taken care of yourself and your loved one before it’s too late!

 

One Family With Life Insurance

A young couple in their early 30’s were on holiday in Spain with their 3 young children.  One day while the family was on the beach, the Husband noticed that a child was shouting out for help in English so he went in to help the young boy.  He got to the young boy and as he was bringing him back to the shore the boy was swinging his arms and hit the husband on his throat which made him lose consciousness.  The husband went under water and no one saw him again until the next day.  The young boy was ok and it took divers until the next day to find the Husbands body as the tide had taken him away.

The family flew home with the husband’s body and luckily the family had an adequate Life Insurance Policy, therefore the cost of changing the plane tickets, bringing back a body, the funeral and all other costs were reimbursed when the life insurance policy was paid shortly thereafter.  The loss of a loved one is always a very sad time but when it’s a sudden loss of a loved one it can be an absolutely horrendous time especially for the family.  However, this family could grieve peacefully without having any added pressure.  They didn’t have to sell their home or sell the Family business because; they did have a good life insurance policy.  Without that Life insurance policy, their life would’ve been extremely different.

 

One Family Without Life Insurance

A young couple in their late 20’s with 3 young children.  The husband worked full time and the wife stayed home raising their 3 young children who are 7, 5 and 2.  One day, before she picked up the 2 older children from school, she had a very bad asthma attack. No one was home and she didn’t have her puffer or her cell phone nearby. Unfortunately, by the time someone found her, it was too late and she had passed away.

This is such a terrible loss for this beautiful young family and they didn’t have any life insurance for her.  The husband has a small life insurance policy through work but it’s only 1 times his salary, which is not nearly enough life insurance.

The husband couldn’t go back to work as he had to look after his children and find a new home for them to rent as he couldn’t afford to continue to rent the 3 bedroom townhouse they were living in. He also had to find a reliable and affordable caregiver that he trusts to watch the children before and after school and to take care of his 2-year old all day.

He had to apply to the city for housing and to get help from the government.   He hasn’t had time to grieve yet, as he’s on a roller coaster trying to provide for his 3 beautiful children.

Life Insurance is an absolute necessity if you were to pass away and your family relies on your income. Please, please protect them.

Call the Blackmore Levy Group at 1.888.520.6520 for a complimentary assessment. One of our Financial Architects will be able to custom design and build or rebuild your Financial House.

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