Parksville Life Benefits Articles

Life Insurance Articles

Spring Cleaning - It doesn't hurt to ask

Spring is a time of renewal.  We plant the garden; spring clean the house and the yard.  It’s also time to review our financial records and make sure our family is protected in the best possible way. 

The plan designed with no medical requirement for age 45 to 75

Final Expense Insurance is available if you are between age 45 and 75 and are:

  • concerned about having a medical
  • Wish to leave a small legacy to your church, grandchildren or other worthy cause.
  • Wish to ensure there are no unpaid bills left for your loved ones.
  • Want to pay for probate fees, legal fees or executor's fees which arise on your dealth.

You can select the level of coverage from $5,000 to $25,000 with the premiums guaranteed level for 20 years only, paid to your named beneficiary. 

Is It Always Necessary To Probate a Will?

The short answer is no! It is not necessary to transfer jointly owned real property, jointly owned bank accounts, insurance or pension plan proceeds payable to a named beneficiary, registered government securities or Canada Pension  Plan survivor benefits. Nor is it necessary for estates of small value.  The following outlines more specifically when probate is necessary:
1. Where there is no will - the entire estate willbe subject to probate fees.

Protecting Your Family’s Future

Parksville Life Benefits Ltd’s mission statement is to enhance our clients’ well-being with Life, Health and Wealth benefits. What does this mean?  Well, we help you decide what products can best protect you and your family’s future. Only you know what it would mean to your family if you were to lose your income or die prematurely. Many people ask me “When is the best time to buy insurance?” – I say, “When you are healthy!” My suggestion is to buy life (or mortgage) insurance when you are healthy and


Disability Articles

Money To Burn

Oh, why didn’t I talk to you first?  That’s what I hear from people who have had a significant event happen,  and I don’t mean the nice kind.  You’ll learn from the widow who herself now needs help after nursing her ailing husband, the sales person who thought they had it all until a skiing accident, and a new business owner who is having difficulty keeping good employees.  In the next few articles, you will learn that if you talk to a licenced insurance broker they can help you develop your own safety net.

"What to look for when purchasing a Long Term Care Plan" an eBook

Recognizing that at some point in our lives we will need extra care.  If you are like many people, you have worked hard, saved all your life, and you want to have independent care when the time comes.  No one wants to outlive their RRSPs.  Currently in BC if you qualify at the lowest income you may be eligible for a government funded facility.  However, you must live in a facility and not all expenses may be covered even if you qualify based on income.   A nursing home is not a retirement home.  Currently, residential retirement homes cost between $4,500 t

Long Term Care Insurance More Valuable Than Ever

NEW RATES FOR NURSING HOMES
 
On October 8th 2009,  the Minister of Health announced new rates for residential chronic care, beginning in January, 2010. While they emphasized that some rates will go down,  those paying the higher rates will be paying close to 25% more. The new rate structure will ensure clients with the lowest incomes continue to pay the lowest rate in Canada for care.
 

Have You Got Your Safety Net In Place?

We live in the best place on earth and enjoy a wonderful lifestyle.  Don't you agree?  Craig thought so too.  He and his wife had a nice home, they were young and healthy, and, were the proud parents of a new baby boy.   It couldn’t get any better.  In fact, he and his wife had agreed that she would stay at home to raise their child as this was the most important thing that they could do for the family.  Craig would be the breadwinner, and with the start up of his new painting business everything was going to be smooth sailing.  Or was it? 


Health And Dental Articles

Prescriptions Costs

Have you ever wondered why prescriptions are cheaper at some pharmacies than others? Here’s a list of dispensing fees that various pharmacies charge: 

2010 Tax Changes for Cosmetic Procedures No Longer Considered Tax-Exempt

In the federal budget announced on March 4, 2010 expenses incurred for purely cosmetic procedures will no longer be eligible under the Medical Expense Tax Credit. 

British Columbia Provincial Health Insurance Plan Fact Sheet

Prescription Drugs - Coverage through the Fair Pharmacare program for eligible prescription drugs listed on the BC drug formulary.  Residents pay a deductible based on family income.
Ambulance: Ambulance fees are not covered by the Medical Services Plan of B.C. However, they are covered by other third parties such as Workers Compensation and ICBC. Residents are required to pay an $80 flat fee for either ground or air transport.  Residents on premium assistance are not required to pay.

Out of Province Medical Insurance

A few years ago when I was vacationing in Santa Fe, New Mexico, I accidently fell down the steps of my travel trailer and broke my arm. Unfortunately, the break required an operation and in that one event I discovered how important it is to have Out of Province Medical Insurance. The care for the broken arm cost US$11,412 and my BC Medical Plan reimbursed me for only C$636.

Travel Delays?

Traveling This Spring? If Your Trip is Delayed Remember to Extend Your Travel Insurance.  Traveling outside the province or outside the Country ensure that your Travel insurance is extended if your trip is extended.

Visitors To Canada Medical Insurance including Pacific Care Givers

Visitors to Canada either on vacation in Canada or those people awaiting approval of their BC medical can apply for coverage.  If you would like a quotation for coverage while you are in Canada or are new to Canada awaiting BC medical coverage. Email for a quotation to Bonnie@parksvillelifebenefits.com


Retirement Articles

"What to look for when purchasing a Long Term Care Plan" an eBook

Recognizing that at some point in our lives we will need extra care.  If you are like many people, you have worked hard, saved all your life, and you want to have independent care when the time comes.  No one wants to outlive their RRSPs.  Currently in BC if you qualify at the lowest income you may be eligible for a government funded facility.  However, you must live in a facility and not all expenses may be covered even if you qualify based on income.   A nursing home is not a retirement home.  Currently, residential retirement homes cost between $4,500 t

2010 Tax Changes that May Affect You

Rollover of RRSP Proceeds to a Registered Disability Savings Plan

Budget 2010 proposes to extend the existing RRSP rollover rules to allow a rollover of a deceased individual’s RRSP proceeds to the Registered Disability Savings Plan of a financially dependent infirm child or grandchild.

Set up of Tax Free Savings Accounts (TFSA)

The Canadian government introduced Tax Free Savings Accounts (TFSA) as a new way of saving money without paying tax on the interest earned on the savings. The concept is that you can contribute up to $5,000 each year and not pay tax on the interest earned.


Group Benefit Plans Articles

"What to look for when purchasing a Long Term Care Plan" an eBook

Recognizing that at some point in our lives we will need extra care.  If you are like many people, you have worked hard, saved all your life, and you want to have independent care when the time comes.  No one wants to outlive their RRSPs.  Currently in BC if you qualify at the lowest income you may be eligible for a government funded facility.  However, you must live in a facility and not all expenses may be covered even if you qualify based on income.   A nursing home is not a retirement home.  Currently, residential retirement homes cost between $4,500 t

2010 Tax Changes that May Affect You

Rollover of RRSP Proceeds to a Registered Disability Savings Plan

Budget 2010 proposes to extend the existing RRSP rollover rules to allow a rollover of a deceased individual’s RRSP proceeds to the Registered Disability Savings Plan of a financially dependent infirm child or grandchild.

Set up of Tax Free Savings Accounts (TFSA)

The Canadian government introduced Tax Free Savings Accounts (TFSA) as a new way of saving money without paying tax on the interest earned on the savings. The concept is that you can contribute up to $5,000 each year and not pay tax on the interest earned.


Mortgage Insurance Articles

Benefits of Private Mortgage Insurance

The Benefits of Private versus Financial Institution Mortgage Insurance