June 20, 2013

Never Assume Anything (including emails delivered)

Estimated reading time: 45 seconds

“Never assume anything” Heard that before? Me too…at least a million times.

Yes, it’s a cliché, but it always ring true!

June 14, 2013

Happy Father's Day - gift included

Estimated reading time: 30 seconds

Happy Father’s Day!

This post is dedicated to my late father, of blessed memory, who died of a sudden heart attack in 1974 at the age of 50.

June 5, 2013

Truth or Consequences

Estimated reading time: 35 seconds

Telling the truth is an essential virtue, especially when it comes to dealing with insurance companies.

A schoolyard fib gets denounced with 'liar, liar pants on fire', but an insurance fib can carry disastrous consequences.

May 23, 2013

I was planning to procrastinate …

Estimated reading time: 45 seconds

I was planning to procrastinate, but never got around to it.

How many of us don’t put off important things we know we should have done yesterday?  Do you envy those super-efficient types who are so punctual, organized and always put together?  Don’t they sometimes infuriate you.... with yourself?

May 14, 2013

Offense or Defense…where to start?

Estimated Reading Time: 40 seconds

The NHL hockey playoffs are now underway and eternally optimistic Toronto Maple Leaf fans (1967 was our last Stanley Cup) witnessed a heartbreaking collapse last night when our beloved team blew a 4-1 lead in Game 7.  That was painful.

Today the “mourners” are  at the water cooler and all over the media discussing the  relative importance of Defense and Offense.

May 9, 2013

Beware of Doing it Yourself

Estimated reading time: 30 seconds

I've always admired the talents of people on cooking and renovation shows.  Project oriented magazines like Popular Mechanics have fascinated me since I was a kid.

But the very thought of dealing with a project of any size causes nervous palpitations before pulling out my dusty toolbox. My affliction of two left hands breeds unvarnished respect for talented do it yourselfers - they truly deserve it.

May 3, 2013

Trading on Inside Information?

Estimated Reading time:  35 seconds

We started telling people about Critical Illness Insurance in a big way with a radio campaign launched in March 2005. You can listen to some of our ads here.

The subsequent milestones make us feel very proud, and I won’t bore you with them now. They are all here if you care to read them.

April 23, 2013

Insurance Medicals

Estimated reading time: 55 seconds

Most people don’t like taking tests.

The risk of failure and embarrassment is reason enough to avoid tests, even when fully prepared.

April 16, 2013

Cancel What?

Estimated reading time: 45 seconds

If you call your cable or wireless provider to cancel your service or switch to another company you will automatically be transferred to a member of the customer retention department. Their job is changing your mind.

If you call me to cancel an insurance policy you will automatically be told to get a complete medical first.

April 3, 2013

Guaranteed Issue CI is now available 24/7

Estimated reading time: 45 seconds

I am delighted to announce a new online program we just launched with Manulife Financial to help every Canadian get affordable Critical Illness Insurance protection on a guaranteed basis without a medical.

Most people buy life insurance to protect their family but never consider the possibility of what happens if they get sick.

March 6, 2013

You are what you read

It’s been said that twenty years from now, in a reflective moment of self-evaluation, it will occur to you that the biggest impact on your own personal growth and development resulted primarily from 2 things: the people you met and the books you read.

I make it a point to ask successful clients, mentors and other people I admire what books made an impact in their lives - and along the way some wonderful gems have reached the summit of my bookshelf.

When people ask me to recommend a good self-help book, I tell them about a great one that was originally recommended to me by a special mentor: "How I Raised Myself from Failure to Success in Selling".

February 21, 2013

Why I’m not an astronaut

Reading time: 90 seconds

People often ask me why I chose this profession. Truth is, it really chose me.

A short radio ad recorded with my client and friend Gord Stellick tells the story best. Listen here.

February 15, 2013

Long Term Care - Short Term Broke

There is a 50% probability that you will need some form of long term care (home care or facility care) in your lifetime.

A recent poll by Leger Marketing on behalf of the Canadian Life and Health Insurance Association (CLHIA), reported that 74 per cent of Canadians have no financial plan to pay for long-term care.

CLHIA estimates a cost of almost $1.2 trillion ($1,200,000,000,000) to provide long-term care to the baby boomer generation as they pass through old age (those baby boomers started turning 65 last year!)

February 5, 2013

A Tale of Two Sisters - Powers of Attorney

Despite the fact that everyone knows the importance of having a current and up-to-date will and powers of attorney most people don’t think about their wills until the day before leaving on vacation. A recent survey of 544,000 Canadians with assets exceeding $1.5 Million reported that only 40% have a will and 80% of those wills are not up to date. Where do you fit?

In addition to the will, everyone needs to complete two (not just one) Powers of Attorney:

  • Continuing Power of Attorney for Property - You name someone to make financial decisions for you, such as paying your bills, managing your investments, etc.
  • Continuing Power of Attorney for Personal Care - You name someone to make personal care and health decisions such as where you live, what you eat or what medical care you will receive if you get sick or injured
January 30, 2013

RSPs Need Protection Too!

RSP season must be a delight for the people selling advertising. The ads pitching RSPs are everywhere, online and offline.

We are taught from an early age to save for retirement with annual (or more frequent) RSP contributions, but few people consider the tax consequences of simply getting their own money back. Hint: they have to pay income tax on all the  withdrawals at their marginal tax rate.  At death, providing there is no spousal roll-over, all contributions are taxed.  That means $1M of RSP/RIF income would be subject to $460,000 of tax.

Aside from these ultimate tax liabilities, protecting retirement goals can be very difficult if certain life events occur. For example, what would happen if somebody suffers a heart attack or stroke or gets diagnosed with cancer?

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