A Passion for Health
Paradigm’s passion for health and well-being fits neatly within its mission to provide effective insurance solutions to a broad range of clients. Generally speaking, the healthier one is, the simpler and more affordable one’s insurance will be. Paradigm endeavors to provide health and wellness tips and suggestions while simultaneously crafting unique insurance-based solutions to fit within any financial portfolio. Together, these two fields of knowledge result in the delivery of an exceptional service which seamlessly blends health, wellness, and insurance in pursuit of enhanced well-being and solidified financial positioning.
Oftentimes, we see clients who have a strong affinity for a particular cause or non-profit, who cannot support it to the degree they wish to during their lifetime. Utilizing life insurance, one can leave a substantial legacy and forge true change while incurring minimal relative-costs and receiving a substantial tax credit. The life insurance product itself is the same as any other life insurance product. However, who the applicant names as the beneficiary or as the owner augments that strategy such that a charitable organization benefits and the applicant secures a tax credit. There are multiple ways to structure an insurance strategy for the purpose of charitable giving. One’s individual estate planning needs will help determine when the resulting tax-credit would be of best use to the individual.
Many assume that estate planning is something that only the extraordinarily wealthy need concern themselves with. This is most certainly incorrect. No matter the quantity or value of one’s assets, sound estate planning practices carry immense value. Properly crafting one’s estate can ensure the creation of a strong legacy, maximize the wealth transfer to the next generation, enhance the efficiency of settling the estate, and minimize the tax implications and other costs. Estate planning is a subject that all individuals, from all backgrounds, at all stages of life should pay mind to as one never knows when estate planning will become unavoidably relevant.
At its core, life insurance offers a tax-free benefit at the time of the insured’s death. This benefit can be used to pay off debt, replace lost income, cover tax-liabilities, leave a legacy, the list of possible uses goes on.
Critical illness insurance was first developed by a medical doctor: Dr. Marius Barnard. He observed the financial perils his critically ill patients encountered and understood the need for an insurance-based solution.
Disability insurance provides a tax-free monthly benefit to the insured in the event of an accident that restricts one from being able to work.