PRODUCTS
Based on 25 years of management and financial advisory experience, I’m proud to offer a comprehensive range of insurance services and products. Below is a summary of some of the products most frequently requested by my clients. However, if you don’t see what you’re looking for here, please reach out to me since I can likely be of assistance.
TERM/PERMANENT
There are two basic types of life insurance: permanent and term.
Each individual is unique, and fortunately there are a wide variety of life insurance products to fit everyone’s needs. For example, term life insurance may be your best fit, or it may be used as an interim step before purchasing permanent life insurance. On the other hand, a combination of term and permanent life insurance in the same policy may be the best solution. The life insurance you choose depends entirely on your individual situation today and what will be important to you in the future. I can show you the pros and cons of each, and help you make an informed decision about which is right for you and your family.
DISABILITY INSURANCE
During your working years, your ability to earn an income is what enables you to attain the things in life that are important to you, such as purchasing a house, having a family or going back to school. However, life is anything but predictable, which is why disability insurance exists. A solid disability plan offered by reputable insurers can help protect you from financial loss by replacing a percentage of your income to help you meet your financial responsibilities if a disability prevents you from being able to work.
CRITICAL ILLNESS INSURANCE
If you suffered a critical illness insured condition, such as heart attack, stroke or life-threatening cancer, critical illness insurance can complement the benefits available through a disability insurance plan. Critical illness pays a one-time, lump-sum benefit to help with unexpected expenses such as medical treatment or drug costs not covered by the health care system, time off work for you or a family member or other costs associated with recovery. The lump-sum benefit can be used when you need it most and may limit your need to tap into other savings.
AN INTRODUCTION TO THE TAX-FREE SAVINGS ACCOUNT
The availability of tax-free savings accounts (TFSAs) is perhaps the most significant savings-related change to the Canadian tax system since registered retirement savings plans (RRSPs) were introduced in 1957. The TFSA is an account type that allows investors to earn tax-free investment income on after-tax dollars. There is no tax deduction for amounts contributed to a TFSA, no tax on the investment income (including capital gains) earned in the account, and no tax payable on withdrawals. As an added benefit, withdrawals can be used for any purpose.
RRSP - REGISTERED RETIREMENT SAVING PLAN
Benefits of RRSPs:
- Funds in RRSPs have tax-deferred growth.
- The RRSP contribution provides for a tax deduction – probably more in higher
income years than later in life when you are semi-retired or retired.
“ I want to thank you for setting up an RRSP for me 7 years ago. I don't remember who recommended you to me but I am so glad that they did. I am 62 now and, when you discussed starting an RRSP with me, I thought it was too late as I was 55 at the time. I now have about 40,000 in my RRSP, which is not a lot compared to others, but it is 40,000 more than I would have had. I also have been having money automatically go into 2 savings accounts (one is a TFSA) every two weeks and that helped me through this past summer when my work really slowed down. I know I should have started this years ago but you proved it's never too late! — Christine ”
Suzanne Jacob
Financial Advisor
Investment & Insurance
Vancouver downtown office:
800-1185 West Georgia St.,
Vancouver, B.C. V2Y 1J6
Richmond office:
3000-8171 Ackroyd Rd.,
Richmond, B.C. V6X 3K1