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Mutual funds provided through FundEX Investments Inc.

Abbington Financial Group, 662 Upper James Street, Hamilton, Ontario, L9C 2Z3

 

Tel: 905-389-3534 Fax: 905-389-0345 Email: service@abbington.ca

2015 Abbington Financial Group. Abbington is a registered trademark of Jeffrey Sindall, Abbington Financial Group.

Our Life Insurance Philosophy

 

Rather than determine a life insurance need in isolation, at Abbington Insurance Inc. we complete a life insurance needs analysis as part of your overall financial review. This is very important because the need for life insurance is related to one’s assets and debts (among other important considerations - see below). The need changes over time as debts are paid and assets are accumulated. This leads to a discussion on life insurance needs versus life insurance wants, as well as the concept of “self-insured” when a person’s financial assets are sufficient to meet objectives for beneficiaries.

 

We create a life insurance needs forecast which is built upon forecasts for net worth, mid-term goals, children’s education funding goals, retirement income goals, and evolving income replacement needs (which each present a need for term insurance) as well as the growing income tax liability and probate fees resulting from accumulating wealth, and finally the desire to create a family trust fund as a legacy for intergenerational wealth and lifestyle achievement (each presenting a want for permanent insurance).

 

The Need for Term Insurance

 

More specifically with respect to term insurance, our life insurance needs analysis determines the amount of term insurance required today as well as forecasts how the need for term insurance will change year by year. We estimate the number of years term insurance will be required until our client reaches the point of “self-insurance” as described above.

 

The Want for Permanent Insurance

 

With respect to permanent insurance, our life insurance needs analysis will illustrate the amount of permanent insurance wanted initially and how this value will increase over time. This leads to a discussion on the type of permanent insurance needed and the amount of premium required to meet the objective.

 

Our life insurance needs analysis is comprehensive. The full financial review may take more than one appointment to complete, which is fine by us because life insurance decisions are very important for the sake of your beneficiaries. This thorough analysis cannot be done online or by telephone, which is another reason why we believe the businesses of Abbington Financial Group are better than banking.

 

Our Association with National Financial Insurance Agency

 

Abbington Insurance Inc. has a contract with National Financial Insurance Agency (NFIA) as a Managing General Agency. This allows Abbington Insurance Inc. to choose from many different life insurance companies to find suitable policies at competitive premiums for the benefit of our clients.

 

Please click here for a summary list of the life insurance companies as posted at the NFIA website.

 

Other types of insurance available include critical illness insurance, disability insurance, long-term care insurance, travel insurance, and health & dental insurance. What the banks typically call mortgage insurance we consider to be one objective for a comprehensive life insurance policy.