What is it?
An Estate Protection Segregated Funds Policy is designed for those who are in the later years of retirement and are looking:
- To protect the investments that have been set aside for family or a cause that is important to you
- To maintain family harmony
- For a smooth process to leave a family legacy
How does it work?
You’ve worked hard to save for your family’s future and protecting that investment is important. With an Estate Protection Segregated Funds Policy, you and your family can have a sense of certainty in the later years of retirement because 100% of the investment you put in is protected at death.
You and your family can organize the following up front:
- Who the money goes to
- How it’s paid out after death
- Your advisor can help you choose from a selection of funds designed to provide protection and potential growth
It’s a seamless way to pass on investments to family or a cause that’s important to you. Because the amount set aside in an estate protection policy does not flow through the estate, the named beneficiary receives the money directly. It’s also private and can save on potential estate settlement costs.
How can it help your family’s estate plan?
Help secure your loved ones’ legacy
Many years ago, your parents probably had “the talk” with you. Now it’s time for you to have the talk with them. Talking about money isn’t always easy, but having a conversation about their finances is an important part of planning for the future.
Similar to planning in other life stages, there’s some information to think about:
- How do we make sure our family gets the most out of the money our loved ones saved?
- What’s the process of settling an estate? How complex and how long is it? Is there an easier, faster option?
- Do we know all sources of income (shares in a business, segregated funds, pensions etc.)?
- Do we have the proper banking information?
- Do we know insurance policy information?
- Are we informed of all medical history?
- Are there debts we should be planning for?
- Do we have a good understanding of wills/power of attorney?
- Are there any ongoing expenses (charities, donations, memberships etc.)?
Guarantees will be reduced by the same percentage as your policy value (proportional) if there are withdrawals, including taxes, short-term fees and other applicable charges.
Talk to an expert
Not feeling confident in your finances? You can talk to one of our financial security advisors who will work with you to craft a financial plan tailored to your needs.