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Wallis Simpson, the Duchess of Windsor famously declared "You can never be too rich or too thin."

When it comes to receiving payouts on insurance claims, I have yet to hear someone declare

“I had too much insurance” when I deliver the cheque.

A very successful CEO in his early 50s contacted me recently for help with his insurance and estate planning.

He presides over a growing financial services business and enjoys an annual compensation package of about $1 million, before bonus.

His protection portfolio consisted of several term life insurance policies, (he’s been married twice) and the employee benefits plan at the office.

Much to his surprise, I told him the fine print of his benefits booklet revealed his Long Term Disability (LTD) coverage amounted to only $10,000 per month and that amount would be fully taxable.

“That’s impossible”, he said, so he summoned his VP of HR to his office for clarification.

Sure enough, his trusted officer confirmed the LTD coverage was woefully inadequate, and was paid for by the company so that the benefits received would be fully taxable and he would receive less than 10% of his current monthly gross if he was unable to work.

His situation is by no means unique and would apply today to many (if not most) high income earners like lawyers, dentists and entrepreneurs who require substantial sums to support the comfortable lifestyles they (and their families) have grown accustomed to.

We solved the LTD challenge with a High Limit Disability Insurance policy underwritten by Lloyds of London.

Coverage is available for up to $150,000 per month, that’s almost $2 million annually of non-taxable benefits. Guaranteed Standard Issue top-ups are also available to enhance coverage in place.

Does your benefits booklet contain nasty surprises too?

No two situations are identical.

There’s only one good time to review your LTD coverage for adequate protection. that time is now, while you are healthy.

Please be in touch to arrange a confidential, no-obligation analysis of your current benefits, life insurance and estate planning.

My team of expert advisors is available across Canada to help you get the protection you need and the peace of mind you deserve.

Call me toll-free at 1-866-566-2001 or send an email to info@illnessPROTECTION.com

I look forward to helping you and your family.

Stay healthy.