• Canadian Tax Secrets | Epi. 6 - Asking About Your Clients Insurance Policy

  • Apr 3 2023
  • Length: 20 mins
  • Podcast

Canadian Tax Secrets | Epi. 6 - Asking About Your Clients Insurance Policy

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  • Summary

  • The podcast provides some tips to add value to insurance policies, even if you, as an accountant, do not have a deep understanding of insurance. Accountants can ask clients questions to ensure they are getting the most out of their investments within their insurance policies, including whether clients pay their insurance premiums monthly or annually, whether they need their term policy beyond the initial term, and whether they have contractual guarantees in permanent policies. Three main points: 1. Paying insurance premiums annually instead of monthly can result in an 8 to 12% discount, saving clients significant money in the long run. 2. Accountants should ask clients essential questions to ensure their investments are aligned with their goals and risk tolerance, including questions about the investments in their universal life policy, their performance and fees, policy loans and interest rates, collateral assignments, beneficiaries, and whether they have enough life insurance. 3. Accountants can provide value to clients by asking good questions and ensuring their investments align with their goals and risk tolerance, even if they do not deeply understand insurance. With tax season approaching, it is essential to ask these questions as they can impact your client's financial plan. Make sure to like, and subscribe for more episodes! -------------------- Want more? Sign up for our newsletter here: https://bit.ly/40bFr6u Need insurance for a high-net-worth client or yourself? Get an appointment on our site: https://www.swellwealth.com/
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