“I know a lot of people that have tried it, quit, and moved on. How long have you done it and why do you like it?”  3 magical very important questions; 3 very important answers that have defined the nature of my practice.  

What is a CFP? It is a labor of love. It shows your clients that you truly care about them and are willing to go through rigorous studies, a demanding 10 hour exam, regular annual upgrades to provide the best most current financial and lifestyle advice to them.  We adhere to a strict code of professional ethics that guides us in the event of a conflict of interest to do what is best for our clients in our role as advisor and catalyst for change.  Ethics that guides us, in event of a conflict of interest, to do what is best for our clients.  

How Long have you been an advisor?  More than 20 years, and still going strong.   

Why do you like being an advisor?  Helping my clients avoid financial pitfalls and helping them get through lifestyle emergencies. The friendships that develop out of a mutual respect.   

Three questions were asked; three answers given resulted in a new client relationship. As certified financial planners we are focused on the planning and the advising not the selling.  We don’t only work for the super rich, we help solve every day issues – reorganizing and reducing debt – planning for retirement savings.    Have your expenses spiked? Cash flow issues?  We can clear up your financial uncertainty. 

Wage loss replacement plans (aka Salary Continuation Plan) is a way to bundle individual disability or critical illness plans and realize cost savings through your business. You need at least two employees to qualify for the wage loss replacement plan or grouped individual critical illness insurance plan. Coverage must be offered to all employees within the selected class. 

The business establishing the plan must be paying the salaries of the employees participating in the plan. Premium paid by the business is a tax deductible expense. The premium is not considered a taxable employee benefit if plan qualifies as a group sickness or accident insurance plan under the Income Tax Act Lump sum critical illness insurance benefits are paid tax free to employees provided benefits are not in lieu of periodic benefits.

  • Excellent tool for attracting and retaining key employees.
  • Helps protect against the high cost of continuing salary payments to long term disabled or critically ill employees.

For implementation purposes, required documentation evidencing the plan includes: 

  • Corporations: Typically a board resolution is passed and entered into the corporation’s minutes authorizing the plan.
  • Partnerships & Sole Proprietorships: Typically the owner of the business draws up an agreement that contains language similar to the board resolution.

What Is Income Protection? 
In the event of an accident or sickness, an income will be paid to maintain your current lifestyle.  It may also be used to protect your business if you are unable to work. Wouldn’t you agree that your INCOME is your GREATEST ASSET?  

How Do I Collect? 
You collect when, due to an accident or sickness you are:

  • Unable to do your work (totally or partially;
  • Under the care of a doctor;
  • Not working in your own occupation.

Will Inflation Affect My Benefit if I Become Disabled? 
To protect against inflation, a Cost of Living Adjustment (COLA) option can be added to your benefit.    

Can I Increase My Benefit When I Earn More? 
Your program allows you to increase your protection in the future. You can increase your benefit without having to answer any medical questions. All you have to do is qualify financially.     

What Am I Protecting? 
The fact is your health is your wealth… Can you afford to lose your greatest asset?     

Why Do I Need Income Protection? 
Consider the odds of at least one disability lasting more than 90 days before 65:

  • Age 30: 5 out of 9
  • Age 40: 4 out of 9
  • Age 50: 1 out of 3

If your disability does last 90 days, the average length of a disability will be: 

  • Age 30 2.5 years
  • Age 40 3.1 years
  • Age 50 3.1 years 

Can My Contract Be Changed? 
Your contract and your premiums are fully guaranteed and cannot be changed in any way by the company.   Even if your health deteriorates or you change occupation, your contract cannot be changed or cancelled. Only you can bring changes to your contract.               

How Much Will I Receive? 
The amount you will receive depends on:

  • Your health and your specific needs
  • A premium level with which you are comfortable.  

How Much Does it Cost to Get Income Protection?
It costs more not to have it.  



It was another wonderful summer day with blue skies and golden sunshine in BC; my friend couldn’t have picked a better day for a BBQ. It was while mingling, mixing and conversing with old friends and new acquaintances that the topic of my career came up. My conversation partner at the time, a 45 year old, male executive for a manufacturing company, asked, “What does a CFP really do?”