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 CIBC Private Wealth, Wood Gundy  CIBC Private Wealth, Wood Gundy

Danisi Financial Group

  • HOME
  • WHO WE ARE
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  • WHO WE SERVE
    • Individuals & Families
    • Entrepreneurs
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    • Estate & Tax Planning
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Insurance

Address 1 Place Ville Marie Suite 4125 Montreal QC, H3B 3P9
Telephone Number (514) 282-6857
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Insurance

Having the right insurance coverage can make all the difference for your peace of mind, but you must first assess your needs and potential risks.

We all hope to live long and healthy. However, we can't predict the future, and that's why having good insurance coverage can make all the difference for your peace of mind and that of your loved ones. For example, your spouse may need ongoing health care, and perhaps you can provide for these services now, but are you prepared for once you are retired and no longer have access to the same income sources?

It is crucial to ensure your financial security and that of your family today to avoid financial misfortunes in the event of death, illness, or disability later on. To ensure that you have the right coverage, your advisor will guide you to an expert who will help define your needs by factoring in your potential risks. This analysis will allow you to establish and implement a strategy that is right for you.

Insurance products are offered by duly registered personal insurance advisors.

 

A personal insured retirement strategy is used to maximize retirement income for individuals who are concerned about taxes reducing their income. Upon retirement, an individual can access the policy’s cash value to supplement their retirement income.

 

The insured annuity strategy provides a low-risk, tax-efficient solution if individuals are concerned about low fixed income returns. This strategy is a combination of an annuity and permanent life insurance. The annuity provides tax-efficient cash flow for life. The life insurance policy returns the original invested capital tax-free to beneficiaries.

This strategy is ideal for individuals between the ages of 65 and 80 who want to maximize their retirement income and preserve capital.

 

An Immediate Finance Arrangement (IFA) is an arrangement in which an individual or corporation purchases an exempt life insurance policy and deposits money into the policy in excess of what is needed to fund the insurance and policy charges. The policy is then used as collateral to secure a loan for alternative investment purposes.  Professional advice from your tax professional is required to determine the best way to structure this arrangement.

 

A corporate estate preservation strategy provides business owners with a cost-effective way of preserving capital and enhancing the value of their estate. By using a portion of your business’ passive corporate assets to fund a life insurance policy, you can take advantage of tax-deferred growth within the life insurance policy.

This strategy is best used for shareholders of a private corporation with surplus capital not required to operate the business.  The corporation is looking to grow their corporate surplus in a tax-efficient environment, as well as seeking a cost-effective strategy to distribute the corporation’s locked-in surplus to shareholders.

 

A corporate insured retirement strategy allows a key person or shareholder in a business to utilize a life insurance policy as collateral.

 

A buy-sell agreement is part of a shareholders’ agreement between business partners. The agreement sets out how each partner`s shares will be purchased or redeemed upon their death or disability. This purchase is typically funded by life and disability insurance on the partners. It ensures a smooth transition and ready market for the shares without jeopardizing the business’s financial health, the disabled partner, or a deceased’s dependents.

 

Key person insurance is a corporate policy used to protect businesses from decreased profits or additional costs associated with a key employee`s death or illness. This life insurance strategy is typically used to compensate a corporation for expenses, lost sales or other cash flow changes that arise on the loss of an important employee.

 

Universal life insurance is an option that provides permanent lifetime protection with a tax-savings component. This type of policy can be modified over time to fit your lifestyle. Upon the insured’s death, the beneficiaries, estate or corporation will receive the death benefit tax free.

Universal life allows additional deposits into the policy, that are in addition to the cost of insurance, this additional funding is deposited into an investment option where funds may benefit from potential growth on a tax-deferred basis. This allows you to make withdrawals, borrow from the policy account, or use its accumulated savings to help pay insurance costs.

Universal life insurance is an ideal choice for individuals and businesses seeking insurance protection with an investment component.

Whole life and Universal life insurance are customizable with features that can help you meet the following needs:

  • Retirement Planning
    • Creates a tax-deferred savings opportunity if you have maximized your RRSP and TFSA contributions for the year.
  • Business Owner Planning
    • Provides protection for your company with additional executive compensation and tax-free funds to the company upon death that may be used to satisfy liabilities or can be distributed to facilitate shareholder buyouts.
    • Provides financial options if you are a small business owner.
  • Estate Planning
    • Provides protection for your family and heirs, as the proceeds from the life insurance can be paid tax-free to your beneficiaries. These funds can then be used to pay capital gains taxes on the final tax return.
 

Whole life insurance provides permanent, lifetime protection with guaranteed cash values. This unique product distributes dividends that will  increase the policy’s value by maximizing wealth on a tax-efficient basis. Policy owners can make additional payments into the plan beyond the required premiums. This creates additional funds which will drive both higher cash and death benefit values, as well as allowing the policy owner to make withdrawals, or borrow from the policy. Upon the insured’s death, the beneficiaries, estate or corporation will receive the death benefit tax free.

Whole life insurance is ideal for individuals or small business owners seeking insurance protection and tax savings. The tax free death benefit can be used to pay estate fees, support charitable giving, or use the cash value to pay for the insurance costs.

 

Term insurance is a low-cost life insurance policy that provides coverage at a fixed premium for a set period of time.

Term insurance is ideal for healthy individuals who want affordable coverage and future flexibility. It is often used as risk protection as it provides funds upon death to cover immediate expenses, mortgage payments, their dependent children’s needs and personal debts. It also benefits small- and medium-sized business owners by funding buy-sell agreements, providing key-person insurance, paying outstanding loans and supporting significant start-up costs.

 

Disability insurance is a living benefit product used to protect you against injury or illness that results in a loss of earned income. Disability insurance replaces lost income (generally on a tax-free basis) if an individual becomes disabled and unable to perform their day-to-day job. Disability insurance can provide financial security and a continuous standard of living.

Disability Insurance can provide coverage for individuals in a wide range of occupations. A few benefits to disability insurance for small business owners include reimbursement for certain business expenses, fund buy-sell agreements, assistance in hiring a replacement employee, and protecting profitability.

 

 

Critical illness insurance is a living benefit product that protects against loss of income and depletion of savings used to fund critical illness treatments. As a form of health insurance, it generally pays a tax-free, lump-sum benefit if an individual is diagnosed with an illness that is covered under the permitted illnesses. The insurance benefit can be used for a variety of expenses, such as covering treatments, funding private care or paying for specialized medical needs.

Critical illness  insurance allows an individual to focus on their health while helping to protect against the financial burden of health care costs.

 

Long-term care insurance is a living benefit specifically designed to help individuals who develop chronic-care needs. As advances in health care have extended the average life span, the risk of outliving retirement capital is increasing.

Long-term care insurance helps mitigate this risk by paying a regular tax-free benefit.  It provides flexible payment options, which will ease the financial burden on you, and your family.

 
 
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CIBC Private Wealth” consists of services provided by CIBC and certain of its subsidiaries through CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc. (“ISI”), CAM and credit products. CIBC Private Wealth services are available to qualified individuals. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.