"A comprehensive insurance strategy is integral to a sound financial plan. Our plans are constructed with insurance efficiency in mind"
- Mitch McLean
Discuss Insurance Planning
Insurance planning is the process of organizing your insurance needs in a manner that provides you with the right amount and type of coverage, while minimizing the costs associated with insurance.
It involves analyzing your financial situation, identifying risks that you may face, and implementing strategies to protect yourself and your assets. The goal of insurance planning is to ensure that you are adequately covered while minimizing your insurance costs.
Optimizing your insurance coverage through insurance planning involves utilizing a comprehensive approach to ensure all elements of your financial plan work together to provide you with the right amount and type of coverage at the most affordable price.
Get in touch
Mitch McLean is a seasoned financial advisor based in Ottawa with over 16 years of experience. He provides financial planning and insurance planning services to clients throughout the entire province of Ontario, including Ottawa, Toronto, Mississauga, Brampton, Hamilton, Markham, Vaughan, and Kitchener.
If you're looking to schedule a consultation with Mitch to discuss your personal finance and insurance planning goals, simply reach out to him by using the contact information provided below. You can also connect with him on LinkedIn, Twitter and Facebook!
Schedule An Appointment
An independent insurance broker can help you find the best coverage at the most affordable price, as they have access to policies from multiple insurance companies.These are just a few of the strategies available for minimizing insurance costs in Canada.
It is important to note that insurance policies and regulations are complex and constantly changing, so it is recommended to seek the advice of a qualified financial advisor or insurance professional for personalized insurance planning advice.
Schedule An Appointment
"“It’s not what you make, it's what you keep”
Determining your insurance needs is an important aspect of insurance planning. By analyzing your financial situation and identifying potential risks, we can help you determine the types and amounts of insurance coverage that you need.
This includes identifying risks such as disability, critical illness, and long-term care needs. By understanding your unique needs, we can help you design an insurance plan that fits your individual requirements.
Designing an insurance plan that meets your needs involves selecting the right types of insurance coverage and determining the appropriate amounts of coverage.
This includes considering factors such as your age, health, income, and family situation. Our insurance planning services include a comprehensive analysis of your needs and a review of insurance products to help you choose the right coverage.
Deploying your insurance plan involves putting your insurance coverage into action. This includes completing the necessary applications and paperwork, paying premiums, and ensuring that your coverage is up-to-date.
Our insurance planning services include ongoing monitoring and review of your insurance coverage to ensure that it continues to meet your needs.
Additionally, don't overlook the opportunity to convert insurance policies. By reviewing and adjusting your insurance policies as your needs change, you can ensure that you have the right coverage in place. This can help you avoid unnecessary costs and ensure that you are adequately protected.
Mitch McLean is an Ottawa based financial advisor offering insurance planning services across the entire province of Ontario including Ottawa, Toronto , Mississauga , Brampton , Hamilton, Markham, Vaughan and Kitchener.
If you are interested in scheduling a call with Mitch to discuss your financial planning and insurance planning needs then simply contact him below!
Get in touch
Insurance planning is the process of managing your risk by identifying potential risks and selecting the right types and amounts of insurance coverage to protect against those risks.
Insurance premiums are generally not tax-deductible in Canada, except for specific cases such as medical, disability, critical illness, and long-term care insurance premiums, under certain conditions. It is advisable to consult a tax professional or the CRA for specific guidance.
The types of insurance coverage you should consider depend on your unique needs and circumstances. Some common types of insurance coverage include life insurance, disability insurance, critical illness insurance, and long-term care insurance.
The amount of insurance coverage you need depends on various factors such as your income, expenses, debts, and family situation. A financial advisor can help you determine the appropriate amount of coverage for your individual needs.
Insurance planning is important because it helps you protect your financial wellbeing by managing your risk and ensuring that you have the right types and amounts of insurance coverage in place.
It is recommended to review your insurance coverage on an annual basis, or whenever there is a significant change in your circumstances, such as a marriage, divorce, or the birth of a child.
Yes you can change coverage, however if you require additional insurance coverage you may have to complete the underwriting process. To decrease insurance coverage one may not require the underwriting process.