Financial wellness is the ability to manage money effectively, meet financial goals and cope with unexpected expenses.

Financial wellness comes from understanding how budgeting, saving, investing, risk and debt management work. These pillars support good financial habits and build a strong foundation for a stable future.

As an insurance Advisor, you have a unique opportunity to help your clients improve their financial well-being and protect their future. By doing so, you will not only help your clients achieve better financial wellness, but also build trust, loyalty and confidence in your expertise. Continue reading “The Ultimate Guide to Financial Wellness for Your Clients” →

SHARE the client article from The Link Between:
How to Manage Your Financial Wellness

Your client’s family farming business has been carried on for generations. But what happens when the current generation of farmers is starting to consider retirement? There are some tax efficient strategies to pass the farm on to the next generation but a key question for your client to ask early on is: “Does the next generation intend to work on the farm?” What if only some family members want to remain involved in the farm? How do they plan to transfer their estate to accommodate those active in the farm and those who are not? Is equal always fair? The latter is often an important question in farming situations, especially when a family farming business is asset rich and cash poor. Can estate equalization be achieved without jeopardizing the farming operation? Continue reading “To Farm or Not to Farm? A Question for the Next Generation” →

SHARE the client article from The Link Between:
To Farm or Not to Farm? A Question for the Next Generation

Do your clients have children? Have they discussed financial responsibility with them? Teaching kids about budgeting, saving and goal setting, needs versus wants, the value of hard work, as well as the value of insurance is crucial for good money management and instilling lifelong fiscal literacy and accountability.

Share the client-friendly version of this article with your parent-clients to guide them and their kids along the right path to a lifetime of financial literacy. Continue reading “6 Strategies to Create Financially Savvy Kids” →

SHARE the client article from The Link Between:
6 Strategies to Create Financially Savvy Kids

As an insurance Advisor, you can help your clients achieve their financial goals and protect their loved ones from unexpected risks. But to do that effectively, you need to conduct regular insurance reviews with your clients.

Insurance reviews allow you to assess your client’s current situation and needs, identify any gaps or opportunities in their insurance portfolio, and suggest solutions that can enhance their coverage and value. They also help you maintain and strengthen your relationship with your clients by demonstrating your care, expertise, and professionalism. Continue reading “The Importance of Insurance Reviews” →

SHARE the client article from The Link Between:
Why You Should Review Your Insurance This September

An article by PPI’s Planning Services team, a group of lawyers, accountants and actuaries who provide tax and estate planning support to Advisors affiliated with PPI.

Effective June 25, 2024, the 2024 Federal Budget in Canada proposed to increase the capital gains inclusion rate to 2/3 from 1/2 for corporations and most trusts* and for individuals for capital gains over $250,000**. This means for individuals and certain trusts, the first $250,000 is at a 1/2 inclusion rate and above $250,000, the inclusion rate is now 2/3. In B.C., the tax rate on capital gains is 26.75% on the first $250,000 but 35.67% over $250,000. This is an 8.92% increase (the other provinces differences range from an increase of 7.92% to 9.13%). The Budget stated that the $250,000 threshold was introduced so that only the wealthy would be affected. Well, this is not the case when someone passes away – the middle class will have their tax liability on their death increase by 33 1/3% for capital gains over $250,000. Continue reading “After June 25, 2024, Your Client’s Tax Liability on Death May Have Increased! Time to Revisit How to Fund the Tax Liability” →

Whether your clients are planning a retirement that takes them to top destinations around the world, or like most of us, allows them to continue enjoying their current lifestyle with peace of mind, planning ahead is the best way to know where they’re going and how to get there. With the Retirement Calculator, your clients can set their retirement income based on their retirement lifestyle goals and see quickly if they’re on track, then explore several options for reaching or expanding their retirement goals, including adjusting pre-retirement annual investments, rates of return, and retirement age and income. The Retirement Calculator is designed to help your clients get wherever it is they’re headed, on time. Continue reading “Retirement Calculator” →

SHARE the client article from The Link Between:
Retirement Calculator

Do your clients understand their group disability benefits? Do they know that benefits are paid as a percentage of regular income, and that depending on their plan, they may only be covered for a couple of years—especially if they’re qualified to do any kind of work at that time?

This easy-to-use calculator can be a great way to start important disability insurance conversations. Your clients can quickly see how much income they’d require in the event of a disability when they include their household income and expenses. They can even include things like planned savings and debt repayment to make sure they stay on-track no matter what. Once they know their income needs, you can review any coverage they have in place and discuss whether they’d be able to meet their financial obligations and goals in the event of a disability and offer insurance solutions that may strengthen their safety net.

Continue reading “Disability Insurance Needs Calculator” →

SHARE the client article from The Link Between:
Disability Insurance Needs Calculator

What kinds of financial burdens would your client need to carry in the event of a serious illness? Fortunately, as Canadians, we have access to government healthcare coverage and potential group or personal disability coverage to cushion what might otherwise be grave financial burdens during hard circumstances. But, what about those other expenses these plans don’t cover? This calculator will help you and your clients to consider many of the financial consequences of serious illness that aren’t covered by their medical and disability plans. Help fill any critical illness insurance gaps in your compliant insurance sales practice by sharing this calculator with your clients to start important conversations about the short and long-term financial impacts of serious illness. Talk to them about how critical illness insurance may strengthen their insurance safety net and help secure their financial future.

Continue reading “Critical Illness Insurance Needs Calculator” →

SHARE the client article from The Link Between:
Critical Illness Insurance Needs Calculator

Rolling-over taxable assets to a spouse is simple. But transferring taxable assets to other heirs can have tax consequences. If your client should die without a living spouse, its as though they liquidated all their assets the moment before their death, and any taxes due must be paid by their estate. Their heirs will receive only what remains. Fortunately, in most circumstances, your clients can pass along their principal residence to their heirs without paying tax, but if they have registered investments, stocks, mutual funds, a cottage, other real estate, or a business, a significant portion of their estate may be eroded by taxes. The good news is they can do something about it now.

Share this calculator to start conversations about estate taxes so you can show your clients how to transfer their estates to their heirs intact. Continue reading “Final Tax Bite” →

SHARE the client article from The Link Between:
Final Tax Bite

If your client is a business owner, insurance can help provide them with not only protection, but opportunity when it comes to growing their business. Life insurance policies can help protect shareholders and their family members, the corporation itself, as well as key persons to the business. It can also help enhance cash flow to the corporation by assigning the policy as collateral for a loan. Continue reading “How Insurance Delivers Security and Opportunity for Your Client’s Business” →

SHARE the client article from The Link Between:
Protect Your Business: How Insurance Delivers Security and Opportunity