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Category: Life Insurance

What Is The Right Age To Purchase Life Insurance?

November 1, 2021Blog, Life InsuranceMaclean Rowe

Deciding when you should purchase life insurance varies by person and the individual’s circumstance. But there are both benefits and drawbacks to purchasing life insurance at certain ages. Although the general consensus is that you should purchase when you are younger, there is no “wrong” age to consider purchasing life insurance.

That’s a good thing. Chances are your family may change or grow at different stages of your life, prompting you to consider purchasing a certain life insurance policy at different ages. Below we take a look at why it is a good idea to have life insurance at any age.

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Don’t Qualify For Traditional Life Insurance? Consider These Options

July 1, 2021Blog, Insurance, Life InsuranceMaclean Rowe

It’s no secret that traditional life insurance, critical illness insurance and disability insurance offer amazing benefits to those who qualify for the policies. Through these plans, people can protect their families, their businesses, and their livelihoods against the unexpected occurring and disrupting their lives. Unfortunately, however, these policies often don’t extend to people who are facing serious health problems and who may need life insurance the most.

Several years ago, two alternative insurance products were offered to help cover people who may have fallen through the cracks when it comes to life insurance. These two new products fall into one of two insurance product categories: guaranteed issue and simplified issue.

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Who Should Own My Life Insurance?

April 1, 2021Blog, Insurance, Life InsuranceMaclean Rowe

The planning considerations of where and how to own your life insurance can be varied and sometimes complicated. It is important to remember that who owns the policy, controls the policy. The owner has the right to name a beneficiary, assign the policy, take cash value loans or even cancel or surrender the policy. The insured does not have to consent to these transactions although there are steps available to require his or her permission when necessary. This article focuses on the main, but not all, issues in determining the ownership of a life insurance policy.

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Diversifying in Uncertain Times

November 1, 2020Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Estate Planning, Investment, Life InsuranceMaclean Rowe

Uncertain about where to invest during Covid-19? It may be time to diversify through a Participating Whole Life policy

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How Will COVID-19 Impact the Insurance Industry?

August 4, 2020Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Insurance, Life InsuranceMaclean Rowe

During this stressful and challenging time, many are wondering what effect COVID-19 could have on their life insurance. Some may be worried that the insurance companies would make changes to their existing policy due to coronavirus concerns, resulting in an increase in their premiums or a restriction to their coverage. It should be reassuring to all that insurance companies are generally not able to change the contractual provisions of the insurance policies that are in force.

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Term Life Insurance – Two Valuable Options

July 2, 2020Blog, individuals, Insurance, Life InsuranceMaclean Rowe

For many Canadians, especially those with young families, term life insurance is most often the product of choice for protecting one’s family. The major reason for this is that it is the lowest entry-level cost to purchase life insurance.

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The Need for Corporate Life Insurance

June 1, 2020Blog, Business Owners, Buy-Sell Insurance, corporate, Estate Planning, Life InsuranceMaclean Rowe

Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.

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The Estate Bond

May 1, 2020Blog, Estate Planning, Investment, Life InsuranceMaclean Rowe

Growing your estate without undue market risk and taxes

Often we see older investors shift gears near retirement and beyond. Many become risk-averse and move their assets into fixed income type investments. Unfortunately, this often results in the assets being exposed to higher rates of income tax and lower rates of return – never a good combination.

Or maybe the older investor cannot fully enjoy their retirement years for fear of spending their children’s inheritance.

The Estate Bond financial planning strategy presents a solution to both of these problems.

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What is Key Person Insurance?

March 1, 2020Blog, health benefits, Life InsuranceMaclean Rowe

Most business owners understand that assets vital to the success of the enterprise should be insured. Premises are routinely covered for fire and/or theft; vehicles used to make deliveries, insured; machinery needed for manufacturing, also insured. Given that these tangible assets are instrumental in the success of the business, it makes good business sense that the business is protected in the event of a loss. But what about key employees? Many business owners overlook the impact on their business should a key employee die unexpectedly.

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Protecting Your Family

January 1, 2020Blog, Estate Planning, Family, health benefits, Life InsuranceNo commentsMaclean Rowe

Let’s face it, raising a family today can be financially challenging. The cost of living continues to increase, housing costs are rising along with education and extra-curricular activities for our children. It is tough to make ends meet and still have something left over at the end of each month.

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Recent Posts

  • 1 in 3 Canadians Will Become Disabled Before the Age of 65
  • Get Your Corporate Dollars Doing Double Duty
  • Why you should buy mortgage insurance through your life insurance advisor
  • Having Your Cake and Eating it Too
  • Pay Attention to your Beneficiary

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Contact Us

Gaire Maclean, CFP, CLU
Certified Financial Planner and Chartered Life Underwriter

Tel: (604) 683-2044 
Fax: 604 689 2801 
Email: gaire@macleanrowefinancial.com

Tannis Rowe, BA, CFP, CLU
Certified Financial Planner and Chartered Life Underwriter

Tel: (604) 683-2044 
Fax: 604 689 2801 
Email: tannis@macleanrowefinancial.com

#1810 – 1075 West Georgia Street
Vancouver, British Columbia
V6E 3C9

info@macleanrowefinancial.com

Latest Posts

  • 1 in 3 Canadians Will Become Disabled Before the Age of 65
  • Get Your Corporate Dollars Doing Double Duty
  • Why you should buy mortgage insurance through your life insurance advisor
  • Having Your Cake and Eating it Too
  • Pay Attention to your Beneficiary

About

MacLean Rowe Financial’s boutique approach to financial advice affords clients with the individual attention they deserve to achieve their goals and objectives.
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