Life & Health Insurance

Life Insurance| Disability Insurance | Plan Design | Critical Illness Insurance | Long Term Care Insurance | Health and Dental Insurance | Travel Insurance

Financial planning is similar to planning your annual vacation, except that it is a lifetime journey.  That journey requires planning and regular reviews designed to maximize the financial benefits for you and your family while at the same time minimizing the risks of every day life.  So, why is it that some people spend more time planning their annual vacation than they do planning their family’s financial future?

The Three Certainties in Life

There are three certainties in everyone’s life:  death, taxes, and change.  When any of these events occur there can be an immediate and sudden loss of income and/or need for money.  It’s crucial that you design an insurance portfolio that provides money when it is needed most.

Questions to Ask Yourself

  1. How much financial risk and stress is my family currently exposed to in the event of serious illness or death?
  2. Is my current Insurance Portfolio out of balance (i.e. too much of one type of protection and not enough of another)?
  3. Do I have a professional advisor who I can trust, who is knowledgeable and will always act in my best interest?

How We Can Help

  1. We will work with you and use our expertise to guide the elimination of financial risk and stress your family is exposed to in the event of a serious illness or death.
  2. We will use our knowledge to help you prioritize your insurance needs and balance your portfolio.
  3. With more than 40 years of combined experience and a reputation for honesty, integrity and personal service, Bocking Financial Solutions Inc. will prove to be the professional, trusted advisors that you need.

Life Insurance

Life insurance is a cost effective planning solution that pays a tax free, guaranteed lump sum of money to a named beneficiary, at a time when the money is needed most. Which solution is right for you?

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Solutions for a Young Family

  • Tax free money that replaces the sudden and irrevocable loss of monthly income, on death of one or both spouses.
  • Tax free money that can pay off a mortgage, eliminate debts, and create an immediate education fund to fulfill the dreams of young children.

Solutions for Retirees and Seniors

  • Creates immediate tax free money to:
  • Offset a reduction in pension income
  • Pay capital gains and income tax
  • Create a legacy for children and grandchildren
  • Create a significant tax deductible charitable donation

Solutions for the Business Owner

  • Tax free money to fund a business buyout on death of a partner/shareholder
  • Tax free money to replace the loss of a key employee

How We Can Help

  • We will help you coordinate all of your life insurance needs in an effort to reduce your costs.
  • You may qualify for ‘Preferred Underwriting’ which could reduce your costs – Healthy Rewards
  • We will explain the features of the various types of life insurance products available to you, and customize a product solution that achieves your objectives.

Disability Insurance

Disability Insurance is a cost effective planning solution that protects individuals 24/7.  It pays a steady flow of tax-free monthly income or reimburses office overhead expenses to an insured during a period of prolonged disability resulting from serious illness or accident.

Some Questions to consider:

  • Do I need to protect my employment income against a Long Term Disability or am I willing to take the risk of doing without? 
  • As a self employed professional, how can I protect my Office Overhead Expenses if I suffer a long term disability?
  • How can I adequately protect myself and still own a cost effective plan?
  • Is the Long Term Disability Benefit that my employer provides sufficient considering my current income or do I need to top up my coverage?

Article courtesy of Wealthstyles from Manulife Investments

Plan Design

There are many questions that need to be answered to help clients customize their Personal Disability Income and Office Overhead Expense plans.

How We Can Help

At Bocking Financial Solutions Inc. we have extensive industry knowledge that we draw upon to determine the right solution for our clients.  By matching your unique situation with the features and benefits of a quality Long Term Disability protection plan, we will create a plan that is customized specifically for your needs.

Please contact us to find out how to design your Disability Insurance plan.

Critical Illness Insurance

One in three Canadians will be diagnosed with a critical illness before the age of 75.

Did you know that if you are 45 years old and had to withdraw $50,000 from your Retirement Savings you could lose $200,000 - $300,000 of potential earnings?

With these kinds of statistics it only makes sense to consider Critical Illness Insurance as part of your overall financial plan.  Critical Illness Insurance is a cost effective planning solution that pays a tax-free, guaranteed cash benefit to the insured, upon diagnosis of a covered condition, and survival of a waiting period. Read more on covered conditions

So how do you protect yourself and your family from such an illness?  Choose coverage that will provide a cash benefit that will pay your rent or mortgage, cover household bills, pay for additional medical costs, or allow you to access treatment outside Canada.  Dealing with a critical illness is stressful enough – don’t add financial worry on top of it.

How We Can Help

We will help you customize a solution that closes the gaps in your insurance portfolio, within the budget you can afford.  Developing a sound financial plan that is rounded out by critical insurance is worth investigating.

Please contact us to learn about protecting your family in the event of a critical illness.

Long Term Care Insurance

Long Term Care Insurance is a cost effective, wealth preservation planning solution, that pays tax free sums of money that helps pay for either home based care or care in a facility, if you become functionally dependent or suffer a cognitive impairment (such as Alzheimer’s).  Functionally dependent means you lose your ability to perform two or more of the Six Activities of Daily Living (bathing, eating, dressing, toileting, transferring, and maintaining continence).

Solution

LivingCare Long Term Care Insurance from Manulife Financial pays a monthly benefit to you while you are living.  The monthly benefit does not depend on the actual cost of care, and no reporting of expenses is required.  The monthly benefit is pre-determined at the time of application.

Long Term Care – The Challenge for Canadians

Please contact us and we will show you how Long Term Care Insurance can work for you.

Health & Dental

At Bocking Financial Solutions Inc. we offer two plans through Manulife Financial.

1. FlexCare® :

  • Designed for individuals and families who are not protected through their employer’s group benefits plan or association plan
  • Offers competitive rates, flexible benefit plan design, and high levels of coverage compared to other plans on the market

2. FollowMe Health Plan™:

  • Designed for individuals leaving their company’s group benefits plan and due to pre-existing medical conditions may not qualify for benefits under FlexCare® or other plans
  • Follow Me features guaranteed issue Health & Dental benefits with no exclusions or additional ratings providing an application is submitted within 60 days of leaving your employer’s or association’s benefits plan

Click here to apply online or contact us for full details on these two options.

Travel Insurance

Travel insurance is an important part of your financial plan whether you are travelling within or outside of Canada.

When travelling outside of your home province or Canada, we offer three plans:

  1. The Emergency Medical Plan that provides coverage for an unexpected medical emergency during your trip; or
  2. The Travel Canada Plan that provides emergency medical benefits at half the premium when all your travel is within Canada; or
  3. The All-Inclusive Plan if your plans include pre-paid travel arrangements. Includes Emergency Medical, Trip Cancellation and Interruption, Baggage Loss, Damage and Delay, and Flight and Travel Accident.  Alternately, you can purchase the Trip Cancellation/Interruption insurance separately.

When deciding on coverage it’s important to consider:

  • the level of coverage that’s right for you
  • optional Trip Interruption or Travel Accident
  • Multi-Trip or Single-Trip plans

Click here to apply online or contact us to determine which plan best suits your needs.