Solutions
Manage Risk of Financial Losses & Tax Shelter YOUR Hard Earned Money
Use PERVENTATIVE MEASURES FOR YOUR BUSINESS CONTINUITY
Risk management involves putting processes, methods, and tools in place to deal with the consequences of events you have identified as significant threats for your business.
This could be something as simple as setting aside financial reserves to ease cash flow problems if they arise .It often referred to as business continuity plans. These set out what you should do if a certain event happens, for example, if a fire destroys your office. You can’t avoid all risk, but business continuity plans can minimize the disruption to your business.
Risk assessments will change as your business grows or as a result of internal or external changes. This means that the processes you have put in place to manage your business risks should be regularly reviewed. Such reviews will identify improvements to the processes and equally they can indicate when a process is no longer necessary.
Solutions for your Health & your Wealth
Doctors & Dentists
- Business Loan Insurance
- Key Person Insurance
- Buy-Sell Insurance
- Income Protection ( Disability & Critical Illness Insurance )
- Corporate-owned life insurance / Tax-Sheltered Planning
- Cororate Retirement Planning
- Wealth & Estate Planning
- Emploee Group Benefit
Business Owners
- Business Loan Insurance
- Key Person Insurance
- Buy-Sell Insurance
- Income Protection ( Disability & Critical Illness Insurance )
- Corporate-owned life insurance / Tax-Sheltered Planning
- Cororate Retirement Planning
- Wealth & Estate Planning
- Emploee Group Benefit
Individuals & Families
- Mortgage Protection Insurance
- Income Protection ( Disability & Critical Illness Insurance)
- Tax-Sheltered Life Insurance (Whole Life , Universal Life)
- Wealth & Estate Planning
- Saving & Retirment Planning( TFSA , RRSP, RESP, RRIF)
We provide Insurance Solutions and Estate Planning Services for Medical Professionals, Business Owners, Entrepreneurs, Individuals, and Families.
Protection For The Big Things In Life
Loan Protection life, disability, and critical illness insurance can help provide you with a secure financial safety net for your loan or line of credit precisely when you and your family need it most.
Income Protection (Disability, Critical Illness Insurance)
Disability Insurance :
The loss of income due to a disability is one of our greatest fears.
Disability insurance is designed to protect your income if you are unable to work on a permanent or partial basis. Farah Financial Services offers non-cancellable coverage tailored to meet your individual needs. We offer several options for you to consider in your disability policy, including an own occupation definition of disability, a cost of living adjustment, a future income option, HIV and Hepatitis B and C coverage for medical professionals and conversion to long term care coverage.
Critical illness insurance:
is designed to create a tax-free lump sum payment of up to $2,000,000 soon after the onset of one of up to 25 critical illnesses (e.g. heart attack, cancer, stroke, MS etc.) A critical illness policy pays you regardless of your ability to return to work and is paid independently of your disability coverage.
One of the attractive options available is the return of premium option. This option states that as long as you have not claimed, you may elect to exercise the refund of premium option with some policies as soon as the fifteenth policy year!
We recommend that you review your critical illness insurance every few years to ensure that you have the most up to date definitions and policy provisions. Please call us today if you wish to review your current policy and/or your insurance needs.
You can enroll for up to $75,000 of critical illness insurance with NO MEDICAL.
Tax Sheltered Life Insurance :
People often think of Life Insurance as a financial instrument purchased to replace income.
While true for most Term Insurance, the majority of in-force Permanent Life Insurance is now held for investment purposes by large corporations such as banks, financial institutions, and Fortune 100 companies.
Wealthy Canadians buy Permanent Life Insurance as an alternative investment to low-risk low yield, highly-taxed investments like bonds, GICs, etc.
They use Permanent Life Insurance as a worry-free investment that can grow tax-deferred, can be accessed tax-free, and passed along to families and favorite charities tax-free.
The unique tax treatment of Life Insurance policies under Canada’s Income Tax Act makes it a key component in Succession Planning.
