Insurance analysis

A life insurance^† analysis should ensure that when a death occurs in your family, there is sufficient income and capital to cover the cash flow needs for the surviving family members over the entire planning period. When you are young, a major reason for having life insurance^† is to provide financial protection for your dependent family. Without the continued benefit of your income, your family may not be able to afford ongoing expenses for housing, transportation, food, clothing, etc. and there may also be additional expenses for childcare. Post-secondary education and retirement needs also continue to exist in the event of a death in the family.

When you are older, the major goal of life insurance^† may be to protect the value of your estate from declining due to probate fees, income tax and other costs. This type of life insurance^† provides cash flow to meet these needs, which would otherwise have to be covered by redeeming existing assets.

Disability insurance^† (also referred to as disability income insurance^†) pays benefits when you are unable to earn a living because of a disabling injury or illness.

Almost everyone who earns a living needs disability insurance^†. Disability strikes more often than you may think. The chances of being disabled for longer than three months are much greater than the chances of dying prematurely.

^†Insurance products and services are offered by life insurance licensed Advisors through Macquarie Insurance Services Ltd., a wholly owned subsidiary of Macquarie Private Wealth Inc.