Life Insurance Vancouver

Be Protected Financial is a fully independent insurance consulting business specializing in insurance solutions for individuals, families, business owners and corporations.

I work with the major life insurance companies to give you concise and competitive rates to ensure your insurance goals and financial objectives are being met.

My priority is making sure you get great value from my services. I will always encourage you to ask questions, seek clarification, and get reassurance that the agreement defines in clear and concise details, exactly what you are purchasing. I accomplish this by offering you my personal experience, professional advice, and expertise in addition to listening to your needs, becoming familiar with your situation, and understanding your budgetary concerns.

If you are a family, small to medium sized business, self-employed entrepreneur, single income earner, small business owner and want to protect your income, business, or family, then I look forward to creating a valuable relationship with you.

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LIFE INSURANCE

Be grateful for every second of every day that you get to spend with people you love. Life is precious. Mandy Hale

CRITICAL ILLNESS INSURANCE

Saving your life, should not cost you your life savings.

MORTGAGE INSURANCE

Protecting your most valuable asset isn’t just smart – It’s smart money.

Our Services


Life Insurance

Why Life Insurance Is Important

Life Insurance Vancouver

Which One Is For You?

I can assist you in establishing which type of insurance meets your specific needs and situation. To obtain a quote or enquire about Life Insurance, contact me at 604-730-7917.

To Replace Lost Income

Having a loss of income due to an unexpected event can have a devastating financial effect on the survivor. Buying life insurance as a means to replace income lost is the most cost effective way to achieve this.

To Pay Off Debt

Without your income available to help pay off debts, your family can be left with a large burden. Having the appropriate life insurance can be used to pay off debt and help create more financial security for your family.

To Pay Final Expenses

Final expenses can be very significant, especially if there are large medical bills, funeral or legal expenses to pay. Life insurance provides cash needed to be used to help your family cope in a time of distress.

To Help Pay For Your Children’s Education

A child’s education can be very expensive and often requires a long-term strategy. Many families contribute to education funds each year preparing the financial means for their children’s future career. Unfortunately, if something unexpectedly happens to you, there may not be enough time to set aside adequate funds for education. Purchasing life insurance can help by creating a lump sum of cash that can be used to pay for part of your children’s future.

Different Types Of Life Insurance

Choosing to purchase insurance can be an emotional and difficult decision. With so many options, terms, and definitions, how do I choose the right one?
The first steps are to understand your need for insurance, its purpose, and the different types, term insurance and permanent insurance.

TERM INSURANCE

Term Insurance is like renting an apartment as opposed to buying a house where there is equity built up. Term insurance policy premiums go towards the entire cost of insurance. Your rates are locked in for a specific time period — 5, 10, 20, or 30 years — and at the end of the term, the premium will increase.

PERMANENT INSURANCE — 2 TYPES

Permanent Insurance is exactly what it says. The need for insurance is indefinite and the insurance is to cover a long-term need. The premiums are guaranteed not to increase and added features are included inside the policy.

Whole Life
This type of insurance covers you for your entire life and a portion of the premium paid goes toward the cost of insurance and the remaining amount is invested by the insurance company, which is used to build what is known as a cash value.
 
Key Points Of A Whole Life Policy
  • The premiums remain stable and do not increase.
  • You can surrender the policy and receive what is in the cash reserves, but in that case, you will no longer have coverage.
  • You can use the cash reserve to borrow against to secure a loan, which can be tax free up to the value of the total premiums paid.
  • Any death benefit paid out will be reduced by the amount of any outstanding loan.
 
Universal Life
Universal Life can be compared to purchasing a home and not renting. Part of the premium goes towards insurance and a portion goes towards building up equity in your policy through an investment component.
 
Key Points Of A Universal Life Policy:
  • The premiums remain stable and do not increase for the duration of the policy.
  • The insured party chooses the investment portfolio.
  • Borrow against or withdraw your cash reserves at any time.
  • Instead of earning dividends, you earn interest at a fluctuating annual rate.
  • Cash values grow tax-free and are added to the death benefit amount.
  • Incorporates a tax-deferred savings component.
  • Ability to overfund the policy, which allows you to increase the tax-free benefit to your beneficiary

Critical Illness Insurance

Critical Illness Insurance

Critical Illness Insurance Vancouver

Would you like to know if Critical Illness Insurance is really worth it? Read the Globe and Mail’s article here.

To obtain more information or enquire about Critical Illness Insurance,
contact me at 604-730-7917.

I am no stranger to long term illness. I counsel my clients from my personal experience of being diagnosed with a critical illness and receiving a tax-free benefit. Not having the financial means to pay the bills, receive proper treatment or support your family during your illness can be emotionally and physically devastating while you are trying to recover. Financial worries are the last thing you need at a time like this. Critical Illness insurance provides a tax free lump-sum payout should you become diagnosed with one of the 24 life threatening illnesses and survive the waiting period of 30 days, you are free to spend the money any way you wish — pay off your mortgage, out-of-country treatment, modify your home with medical equipment or even to pay off your credit cards. This lump sum payment can supplement your health insurance plan and any group/individual disability coverage you may have.

A critical illness can happen to anyone:

  • It is estimated there are over 70,000 heart attacks in Canada each year.
  • There are between 40,000 and 50,000 strokes in Canada each year.
  • An estimated 3,075 Canadians will be diagnosed with cancer every week.

Statistics taken from Canada Life

CRITICAL ILLNESS INSURANCE COVERS 24 ILLNESSES
Alzheimer’s Disease Deafness Major Organ Transplant
Aortic Surgery Heart Attack Motor Neruon Disease
Aplastic Anaemia Heart Valve Replacement Multiple Sclerosis
Bacterial Meningitis Kidney Failure Occupational HIV Infection
Benign Brain Tumour Life-Threatening Cancer Paralysis
Blindness Loss of Limbs Parkinson’s Disease;
Coma Loss of Speech Severe Burns
Coronary Artery Bypass Major Organ Failure on Waiting List Stroke

Disability Insurance

Disability Insurance

Disability Insurance Vancouver

If you’re self-employed or do not have disability insurance with your group benefit plan and protecting your only source of income is important, then disability insurance should be part of your financial plan.

To obtain more information or enquire about Disability Insurance,
contact me at 604-730-7917.

If you become disabled and unable to work due to an accident or sickness, your ability to pay for expenses and save for retirement can be compromised. Disability insurance is designed to provide you financial security by compensating you with a tax-free portion of your monthly income. My goal is to tailor a plan that is affordable with guaranteed coverage and guaranteed premiums that meets your income needs.

When deciding if disability insurance is for you, consider other sources of income that are available to you. Are they truly viable options?

  • your spouse/family income
  • your savings, RRSPs, other investments
  • selling your property and downsizing
  • bank credit line and credit cards

Accidents and illnesses are facts of life. They could happen to anyone at any time. Did you know that:

  • On average, 1 in 3 people will be disabled for 90 days or longer at least once before age 65.
  • The average length of a disability that lasts over 90 days is 2.9 years.

Long Term Care Insurance

Long Term Care Insurance

Long Term Care Insurance Vancouver

I can assist you in structuring your long term care insurance to meet both your financial and future needs.

Refer to Are you financially prepared to get older for more information.

To  obtain more information or enquire about Long Term Care Insurance,
contact me at 604-730-7917.

Long Term Care Insurance provides financial security in the event you require home care or a permanent stay in a nursing home. It pays individuals a weekly tax-free benefit in the event that they can no longer complete 2 of the 6 activities of daily living. Those activities include bathing, dressing, eating, maintaining continence, toileting, and transferring (ask your advisor for more details).

Long term care in a facility or home care does not come cheap and may not be covered under your provincial government health plans. Without the necessary funds to take care of you, it can have a devastating effect on your savings and or/force your family members into debt and stressful situations with unforeseen medical expenses.

Here are some factors to consider:

  • Within the provincial health care there is NO coverage for private facilities and only a small allowance for home care.
  • Expenses for private nursing, cooking, cleaning, and shopping will be your responsibility.

Long term care insurance can be set up to pay a tax free benefit for home care, for facility only, or both. There is also an elimination period/benefit period which refers to the amount of time that one must wait before receiving the benefit. The benefit period refers to how long in years the benefit will be received. There are also riders which can be added to the policy. These would include cost of living adjustments/ inflationary measures and return of premiums at death.

Mortgage Insurance

Mortgage Insurance

Mortgage Insurance Vancouver

This is a must see!

Click on the link CBC – Mortgage Insurace: In Denial…

To  obtain more information or enquire about Mortgage Insurance
contact me at 604-730-7917.

One of the greatest assets you will ever own in your lifetime is your home. Protecting it with mortgage insurance from the unexpected events that can occur is vital. When applying for a mortgage through a lender, a popular question the representative will ask is, “Would you like mortgage insurance to pay off your mortgage in the event something happens to you and your spouse?” Of course, this all sounds good, but there are a few questions you as a consumer must ask in return. Don’t be misled by what you think you are applying for. Know the difference between Creditor Mortgage Insurance and Individual life insurance.

Travel Insurance

Travel Insurance

Critical Illness Insurance Vancouver

A brief interview answering some important questions and a credit card for purchase is all it takes.

To  obtain more information or enquire about Travel Insurance
contact me at 604-730-7917.

What happens when things don’t go exactly as planned? Whether you are a Canadian resident or visitor from out of country, I can ensure your travel insurance needs are taken care of.  My goal is to ensure you are financially protected against the unforeseen events that can take place during your travels. I will design an affordable travel package that protects you and your family against medical emergencies, accidents, trip cancellation or interruption, and more.

Key Person Insurance

Key Person Insurance

Key Person Insurance Vancouver

If you are not yet sure if key person insurance would benefit your situation, I welcome a brief meeting to discuss it in greater detail.

To obtain a quote or enquire about Key Person Insurance,
contact me at 604-730-7917.

When speaking to business owners regarding the success of their company, many agree that it is the “key employees that make the company successful.” I often ask them, “What would happen to the growth or existence of your company if something drastic were to happen to that key employee?” Most admit that it would have a devastating effect both on the financial and daily operation of the company.

To rehire an employee with the strengths, skills, knowledge or experience to replace the “key employee” can take time and money, two factors that can have a large impact on the success or failure of a business.

In many circumstances companies have workers whose abilities, skills, experience, or service and individual contacts are of tremendous worth to the company. Some companies can not pay for the monetary loss sustained if a key staff member were to experience an unfortunate illness, disability, or death.

At this point, I encourage the implementation of Key Person Insurance to help preserve the value and continuation of the business in the event that a death occurs to a key employee or owner.

Key Person Insurance can assist heirs in meeting estate tax obligations without the death of a “key person” having a negative impact on the business. Creditors and customers knowing you have the right coverage will be can reassured that it is “business as usual” and there is no financial impact due to the loss of the individual and in addition, key person insurance allows for the expenses of training a new suitable replacement.

The Specifics: The employer will be the owner and beneficiary of the policy and the key person will be the life insured. There would be no benefit paid out to the life insured. Under the Income Tax Act, there are no tax deduction provisions and the proceeds are received tax-free allowing for time to rehire and train, thus resulting in minimal financial impact.

Buy Sell Agreements

Buy Sell Agreements

Buy Sell Agreements Vancouver

To obtain a quote or learn more about Buy Sell Agreements,
contact me at 604-730-7917.

Buy Sell Agreement is contract between shareholders or numerous owners that governs what happens if one of the co-owners dies, leaves the company or becomes disabled and no longer contributes to the business. It is a binding legal document drawn up by a lawyer.

An Insured Buy Sell Agreement is used when one of the owners dies and the executor of the deceased shareholder sells his interest in the company and they are bought by the remaining owners or shareholders from the proceeds of a life insurance policy. Details on who pays the insurance premiums can be discussed with me when setting up the agreement. Details on the structure of the agreement should be discussed with your lawyer.

Business Overhead Insurance

Business Overhead Insurance

Critical Illness Insurance Vancouver

As an advisor, I can assist you in integrating the right plan for your business to ensure your overall plan and business objectives are being met. 

To obtain a quote or enquire about Business Overhead Insurance,
contact me at 604-730-7917.

If you are self-employed and a business owner, protecting yourself with disability insurance is imperative. At the same time, protecting your employees’ salaries and monthly expenses is also crucial. How long would your business survive if you became disabled and had no income to pay the monthly expenses?

I counsel my clients on the importance of purchasing Business Overhead Insurance to meet those monthly business financial obligations. Business overhead insurance is designed to reimburse a business for overhead expenses in the event a business owner becomes disabled. The benefit is paid for one to two years after a waiting (elimination) period. This is a shorter benefit period than personal disability, which pays to age 65, because it is designed to protect the business during that crucial time for two years immediately after the owner has been disabled.

Details of a Policy
  • Coverage may be purchased from ages 18 to 60.
  • Premiums may be tax deductible
  • Work actively in the business
  • Waiting period of 30 or 90 days, this is the amount time you must be disabled before benefit payments begin
  • Non-cancelable until age 65
  • You have the choice to be paid over 12 or 24 months

There are additional details and options that can be discussed depending on your situation.

Eligible Expenses

  • Office rent
  • Office equipment rental
  • Employee Salaries
  • Utilities
  • Property Taxes
  • Employee group benefit costs
  • Employment Taxes
  • Legal and Accounting services
  • General office expense: telephone, postage,
  • Principal and interest on business debts and on mortgaged business property
  • Business Insurance expenses

As an advisor, I can assist you in integrating the right plan for you business to ensure your  overall plan and business objectives are being met.

About


Bonita Boutilier, CHS

Bonita Boutilier, CHS

Insurance Broker

I was inspired to become an insurance broker following the unexpected death of my husband. Though the grief of this traumatic event, the life insurance policy that was given to me afforded me peace of mind to heal and grow from this life-changing tragedy.

Thanks to the life insurance policy, I was left with the financial security I needed to go on with my life.

This financial safety net is what gave me the vision and inspiration to create Be Protected Financial. My goal was, and still is today after more than a decade, to provide the best protection and financial services available to families and individuals during times when they are needed most.

By sharing my personal experiences with insurance,  I endeavour to create authentic relationships, present smooth easy-to-understand processes and achieve result-driven goals.

 

Reviews


  • 5 star review  The best agent I have come across. My entire family travels and I always forgot to get coverage. Bonita gave us annual coverage at really great rates so we can travel worry free.

    thumb Crypto Hodler
  • 5 star review  Bonita is a truly caring insurance professional that will listen to your specific needs and advise you on what is best for your situation. She has access to many different insurance companies and she will take the time to find you the policy that is right for you.

    thumb Eva Assoignon

Be grateful for every second of every day that you get to spend with people you love. Life is precious. Mandy Hale

 

The right life insurance can mean that everything you love and care about is not just protected now, but is prepared and ready for whatever the future may hold.

I can help you create the perfect plan.

Be Protected Financial - Life Insurance Vancouver

Hours


  • Monday 9:00AM - 5:00PM
  • Tuesday 9:00AM - 5:00PM
  • Wednesday 9:00AM - 5:00PM
  • Thursday 9:00AM - 5:00PM
  • Friday 9:00AM - 5:00PM
  • Saturday 10:00AM - 5:00PM
  • Sunday closed