Specializing in all types of life insurance – whether Term, Permanent, Mortgage, Buy and Sell Agreements, Key Person, and more, Oegema Nicholson can tailor a life insurance program to meet any need.
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Long Term Disability Insurance A Long-term Disability Insurance program from Oegema Nicholson can replace a portion of your income should you be unable to work due to illness or injury. If you do not have a long-term disability plan at work, or you are self-employed, we’ll work with you to build a policy that will not only match your budget, but one that will meet your financial obligations and give you peace of mind knowing that your family’s financial needs will be met.
Critical Illness (CI) Insurance Duly recognized as the most effective insurance product available on the market today, a Critical Illness Insurance policy will, after a short waiting period, pay out a lump sum to the insured should they be diagnosed with up to potentially 24 illnesses covered by any given plan. The pay-out is tax free; there are no restrictions on the use of the monies paid; nor are there any additional qualifications for pay-out over and above diagnosis and survival. This is a significant differentiator from disability insurance that requires the insurer to exactingly satisfy the definition of his or her inability to continue working. Further, with its Critical Illness Insurance program, Oegema Nicholson has a grouped CI for business owners that offers not only a deduction, but a paid company benefit.
Personal Health and Dental Insurance Oegema Nicholson can put together a cost-effective health and dental plan that can cover the high cost of prescription drugs, semi-private or private hospital rooms, paramedical services, out-of-country medical coverage, dental and vision care, and more. For those without a group insurance plan, such as the self-employed or retiree, with Oegema Nicholson you’ll find plans tailored to suit a particular need and budget.
Travel Insurance offers emergency medical plans, visitors to Canada, those awaiting OHIP, trip cancellation, trip interruption, and more. ON&A deals with all major travel insurance companies and tailors a travel insurance plan to meet any travel insurance need. ON&A can provide a travel insurance plan to meet any particular traveling need.
Term Insurance Commonly used to cover short-term debt and financial obligations with a fixed expiry date such as loans, mortgages, and lines of credit, Term Insurance is recognized as the most affordable and flexible insurance product. Covering periods of 10, 20, or 30 years, Term Insurance can be cancelled by the policy holder at any time without charges or penalties. Whatever your Term Insurance needs may be, Oegema Nicholson can craft the most secure and competitive plan built to suit your needs.
Permanent Insurance, which includes Universal Life and Whole Life, allows you to accumulate cash values or paid-up portions of the insurance policy. Permanent Insurance is used to cover a host of protection objectives, including: paying capital gains or estate taxes at time of death; final expenses; providing your spouse with sufficient money to retire; money to your children; to charity; maximizing your pension; and more. Oegema Nicholson has the expertise and the resources to develop a permanent insurance program that is built to satisfy your specific requirements.
Mortgage Insurance Oegema Nicholson can develop a Mortgage Insurance plan designed to allow you and your family maintain the lifestyle you have worked so hard to build. With the right mortgage insurance protection your mortgage can be paid in its entirety should you suffer a critical injury, or at the time of your death or the death of your spouse; and should you experience a debilitating disability your mortgage payments will be paid until you recover and are able to continue working.
Buy and Sell (Agreements) Insurance Planning for the potential loss of a business owner or partner is crucial to ensuring the prosperity of your business, and protecting the security of your family and the families of each business partner or co-owner. The protection you need may be obtained through the implementation of a buy sell agreement. The buy sell agreement will specify what will happen to the interests of a deceased owner, partner, or shareholder. Should your company’s buy sell agreement stipulate that the surviving owners or partners purchase the interests of the deceased, you can use life insurance instead of personal funds or business assets to fund the agreement. Business owners may wish to purchase a life insurance policy on the life of each co-owner or partner so that funds will be available to complete a buy-out and provide the families of each partner or co-owner a secure source of funds for the value of their interest. Another option is that the business could acquire insurance on the life of each co-owner or partner and then use the insurance proceeds to purchase or redeem the deceased’s interest in the business. Oegema Nicholson can help you navigate through the options and build a buy sell insurance program designed to satisfy your unique objectives.
Key Person Insurance Many businesses are built around the strengths and skills of a few individuals whose capital, energy, knowledge, and experience has made them a valuable and often indispensible resource. Oegema Nicholson can build a “key person” insurance program that will help preserve the value and sustainability of your business should death befall a key stakeholder. Oegema Nicholson’s Key Person Insurance can help heirs meet estate tax obligations without compromising or dissolving a family business; keep the business running and assure the creditors and customers that the company is operating as usual; and reduce the financial impact of the death of a key individual by covering the expense associated with finding and training a suitable replacement.