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Bilyk Financial’s team offers a full suite of insurance services to clients, allowing us to create dynamic, individual solutions ensuring your family and business are protected for years to come.
To see if your coverage is sufficient and appropriate, we regularly review insurance coverages to help ensure our client’s net worth is protected. We realize life evolves, and your needs change; our team will proactively suggest adjustments when they do.
We help clients in Vancouver, Calgary, Edmonton, Winnipeg, Ottawa, Toronto And Surrounding Communities.
Eliminating debt on the death of an individual can be vital for the financial stability of the survivors.
The death of an adult family member has significant financial consequences for the surviving family members as it generally means the loss of income. Insurance can indemnify (compensate for) this risk by replacing lost income and is generally the most cost-effective means of doing so.
This is a common way to reduce the taxes you owe on the estate through making a charitable donation.
In addition to debt planning and family security, other financial consequences can arise on the death of a family member. This can include taxes, probate fees, time off work for the surviving spouse, etc.
Corporate life insurance can provide a business with the cash flow needed for working capital or to repay debts, or to provide the funds necessary to hire and train a replacement when a key executive.
A buy-sell agreement allows for the smooth transfer of shares or other business assets from a departing or disabled shareholder to the remaining shareholders of a corporation or to a third party. Its primary purpose is to facilitate this transition without jeopardizing the financial well-being of the departing or disabled shareholder and his or her family or the financial health and viability of the corporation. The common elements of a buy-sell agreement are:
Living benefits, such as disability insurance, long term care and critical illness are designed to provide financial protection during one’s lifetime.
A financial cushion when faced with the unexpected. While medical costs are covered through our provincial health system, there are often many other expenses associated with recovery that aren’t. This is why critical illness insurance is important. Living with a critical illness can mean major changes to your lifestyle and if you aren’t prepared, serious financial challenges. Having a financial cushion at such an uncertain and stressful time not only enables you to enjoy a higher quality of life, but also lets you live more independently. Critical illness insurance gives you choices you might not otherwise have by providing:
There’s a reason there’s more doctors and specialists in Canada than there are funeral homes. Disability insurance is paycheck protection. Disability insurance is protection offered to replace a portion of your income in the event you become disabled and are unable to earn income. There are many scenarios in which a disability can occur such as:
Research shows that insurance is an underutilized part of peoples financial plans.