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This article provides you with a short general summary that explains the basis for insurance and then describes one form of life insurance, Term 10-Term-20, that can be used in a number of different ways.  In essence we will be exploring how you can use insurance as part of your retirement plan to ensure that you have financial stability in retirement.

Here are the basic concepts on which life insurance is based.  It can be helpful to understand these concepts since doing so makes it easier to understand how life insurance works.

 

  • Mortality curve
  • Law of large numbers
  • Tax sheltered environment

BSc., CLU, CFP®, Pl. Fin.

Founder, Chairman and Chief Advisor.

Michel Guimond

Best pension financial advisor in the Ottawa region.

Michel studied at Laval University, in Quebec City, and obtained a Bachelor’s degree in actuarial science in 1985. He worked at Metropolitan Life (MetLife) in Ottawa (and stayed in the region since then!) from 1985 to 1990 in the actuarial department, and obtained his Associateship from the Society of Actuaries (Illinois, USA), in 1988. In 1990, he decided to jump on the other side of the fence and to become a Financial Planner to help people with their finances.

In 1993, he went to Great-West Life (GWL) as a sales manager, then Regional Life manager in 1997.

In 2000, he left GWL to join a group of actuaries and financial planners and start giving retirement seminars for the Retirement Planning Institute (RPI), the largest provider of retirement seminars to the public function pensionneers. Since the year 2000, Michel has been the leading financial planning seminar facilitator at exclusive events for public sector employers and employees.

Over 700 seminars later, he still does retirement seminars and provides financial plans to over 500 families.