Current and future retirees
If you’re retired or are nearing retirement, then you’re well advised to review your insurance portfolio and tailor your coverage to your new situation. A needs analysis will let you establish an adequate risk management plan. Below are a few important considerations:
Travel insurance
Planning on doing some travel? Make sure you have the right insurance for your needs. Should you fall ill or need to be hospitalized abroad, inadequate protection could prove financially disastrous. We offer insurance solutions for both short- and long-term travel (e.g. snowbirds).
Health insurance
If you no longer have health and dental coverage through your employer, you can purchase similar coverage without needing to provide medical evidence. Simply purchase the replacement policy within 60 days of the termination of your coverage.
The FollowMe™ plan offers replacement insurance with automatic approval (no medical questionnaire).
If you’re looking to purchase health and dental insurance, we offer FlexCare® coverage.
Life insurance
Life insurance is a vital part of your tax and estate planning. In retirement, your life insurance needs may increase. Here are a few considerations:
- Protection for the surviving spouse
- Contribution to the education of children or grandchildren
- Payment of capital gains tax following a death
- Increases to the inheritance
- Tax-free investment (funds that you do not use, held either in a company or a personal account)
- Switching from a temporary to a permanent life insurance policy
Long-term care insurance
Prolonged illness may require you to pay out large sums for long-term care — fees that can significantly eat into your net worth and the inheritance you leave your family. Relax: there’s an insurance solution for this kind of situation. Under long-term care insurance, the insurer pays a monthly amount (benefit) should you lose your autonomy and require assistance.
One of our consultants will be happy to conduct a needs analysis and determine your personal risk management plan.