Life & Living Benefits
Safeguarding your present and future with tailored solutions is at the heart of our Life and Living Benefits services. At Pharus Wealth Advisory Group, we understand that protecting what you value most is paramount. Our dedicated team collaborates with CIBC Private Wealth’s insurance and estate planning experts to offer a comprehensive suite of risk management strategies. A range of the insurance products we offer are as follows:
Term Life Insurance
The smart choice for temporary financial needs. Whether it’s income replacement or mortgage payoff, term life insurance offers fixed premiums and a guaranteed payout, tax-free, to your beneficiaries.
Permanent Life Insurance
This option provides lifelong coverage, accumulating cash value over time. It’s an ideal choice for those looking to leave a legacy while safeguarding against estate taxes.
Disability Insurance
Your earning ability is your most valuable asset. Disability insurance acts as a safety net, offering a monthly income if injury or illness impedes your ability to work, ensuring financial stability until retirement.
Critical Illness Insurance
Unexpected health issues can disrupt your financial plans. Critical illness insurance delivers a lump sum, tax-free benefit upon diagnosis of a severe health condition, filling the gaps left by government and employer plans.
Business Risks
For business owners, the sudden loss or incapacitation of a key employee or shareholder can be destabilizing. Our insurance strategies help mitigate these risks, preserving your business continuity.
Key-Person Insurance
Essential for businesses reliant on certain individuals. This insurance provides financial support to the company in the event of a key employee’s illness or death, facilitating the transition and training of a successor.
Buy-Sell Insurance
In multi-owner businesses, this insurance supports the terms of a buy-sell agreement, ensuring funds are available for the purchase of a business interest in the event of an owner’s disability or death.
Annuities
An annuity is a simple and secure way to ensure you have a steady income during retirement. It’s like a safety net that works with other retirement plans you might have, such as the Canada Pension Plan or Old Age Security. You can choose to get this income for your entire life or just for a set number of years. Plus, you can use either your savings or your retirement fund to buy an annuity. It’s considered a great choice by many in Canada looking to have a reliable income after they retire.
Protection is always a key cornerstone of a well documented Wealth Plan, and at Pharus Wealth Advisory Group, we will take a Planning approach to help you get adequate coverage through our Life & Living Benefits Services.
