2020 - Dehoney Financial Group Ltd.

Preserving $2M Tax-Free Death Benefit of a Key Person Life Insurance Policy

For many businesses, key person life insurance is critical to their risk mitigation strategy. This type of insurance solution helps to reduce the financial hardship that may occur upon the death of an essential employee, such as a top salesperson. This was the case for one Lower Mainland business that set up a life insurance policy on a key person with 50% of the proceeds going to the company and 50% going to the employee’s spouse.

The policy had been in place for over 20 years and the original sales agent of the policy had since died. Our advisors […]

Dehoney Financial Group Announces Partnership with Navacord

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Group Benefits

VANCOUVER, September 10, 2020 – Dehoney Financial Group, a leader in Group Benefits and Retirement consulting, is pleased to announce their partnership with Navacord Corp.

For over four decades, Dehoney Financial Group has provided a complete range of benefit and retirement solutions to businesses representing major sectors of the Canadian economy—all the while driven by a customer service philosophy that, quite simply, is to do whatever it takes to exceed customer service expectations.

By joining Navacord, we bring the best of two worlds together, local touch and national strength. 
“Our customer service philosophy and business approach […]

Patented Medicines Regulations: UPDATE July 13, 2020

As reported by Kelsey Rolfe of Benefits Canada, reforms to the Patented Medicines Pricing Review Board (PMPRB) have been upheld by the Federal Court. This decision followed an application for judicial review by Innovative Medicines Canada and 16 pharmaceutical companies who opposed the amendments which included:

In setting drug prices, a “basket” of 11 other countries (no longer including the US and Switzerland), that are similar to Canada’s population, economy and approach to health care, will be used to compare prices.
In establishing a price ceiling for a drug in Canada, the PMPRB will now have access […]

Mary’s Story – Preserving Life Insurance Tax Savings

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Tax saving with life insurance

MARY’S STORY – PRESERVING LIFE INSURANCE TAX SAVINGS OF $1.4M

Mary and her husband operated a successful family business, which is now in the capable hands of their children and grandchildren. But with Mary in her 90s and failing health, her advisors wanted to review her corporate life insurance policies purchased in the early 1980s.

It was not an easy task considering the actual sales agent of the policies had since died, the policies had not been reviewed in over 30 years, and both the client and insurer held insufficient paperwork. Our advisors were asked to confirm […]