Orooj Financial
Young Families
Are you a Young Family?

When you start a family, expenses are high and you may not be at your peak earning potential. Life insurance will secure your finances long-term and protect your family. Start investing, insuring and saving early to cover costs of your children's post-secondary education! Pay off outstanding debts, cover daily expenses and keep money aside for taxes and funeral costs. Life insurance also pays a tax-free lump sum benefit to your beneficiaries in the event of your death.

Start small and increase the amount as your career progresses to increase your financial security over the years.


The Ideal Business Financial Security Protection Portfolio

Protecting your business’s financial security and its value to the next generation is easier than you may think. Compare your financial security plans with this Ideal Portfolio, if money were no object, to see how it compares.

1. A Will, Powers of Attorney and Shareholder Agreement

Know a dysfunctional family? Staff? Sadly, these may be the people who will be fighting over your business one day unless you make your choices legal today. (Check out the Un-Will) Decide in advance how your employees and shareholders are treated and be sure your wishes are respected and everyone knows the ground rules. Keep peace in the family for generations and keep your business growing when you decide in writing.

2. Business Life Insurance Protection

Your business future and your family’s financial security can change drastically in a heartbeat unless you’ve protected them both. Life insurance totalling ten to twelve times your income plus your debts from the business often does the job. Your price depends on the length of time you need it. Insure your key people and business loans too. I well planned corporate life insurance can also provide tax free retirement income.

3. Key Employee Critical Illness Protection

When you, or a key employee gets a tough health diagnosis, you’ll be relieved you have CI. Protect your hard-earned assets and business plus have the money you want to convalesce in peace. Covering three year’s worth of your gross business expenses plus a staff replacement is a great start.

4. Shareholder Disability Buy/Sell Funding

When you are sick or injured and can’t drive company revenue, how will family & business survive? Insure that unexpected moment and have more peace of mind.

5. Business/Professional Overhead Protection

You may have the government help keep the lights on at your business if you are unable to work because of sickness or injury. All it takes is a tax-deductible company check… and you might be able to get half your money back if you don’t use it.

6. Group Health Benefits

A well priced, properly designed group benefits plan helps attract and keep key employees. When you protect their families with valuable benefits, you create a level of loyalty like nothing else.

7. Protecting Personal Assets from Creditors

Creditor protection is a benefit that makes segregated fund (seg funds) products particularly valuable for business owners. A segregated fund can protect investors' personal assets from seizure by creditors, while providing growth potential similar to mutual funds. Asking your legal advisor if having a holding company is right for you.

“Protecting Business Financial Security for Owners who Care”
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