Frequently Asked Questions
Why another financial company?
AFC is an independent firm providing a bridge between its clients and financial institutions.
Whether it’s the risk of running out of time, running out of health, or running out of income–attention needs to be given to planning ahead! The financial security of families and businesses depend on it!
We often hear of the frustrations with the impersonal, template approach employed by larger institutions. Many are pleased there is an alternative!
What if I outlive my income??
This is the greatest financial concern of retirees as they get older. While government programs may be sustained—the continuation of personal income requires planning. The solutions include segregated funds, annuities, and other concepts such as the cash wedge.
Why would a retiree own life insurance?
Although we often think of life insurance as a necessity for young families, many are not aware of the effective role it can play in retirement. Its uses include:
- readjustment fund for surviving spouse
- tax effective transferring of wealth to heirs
- payment of taxes on death (last spouse) on capital property/registered assets
- support to charitable interests
- the “insurance” element in an Insured Annuity
I am leaving a job and have a substantial Group Retirement program—what should I do?
There is no answer for everyone—but it can be advantageous to roll these funds into a personal program to consolidate retirement assets. This streamlines planning and the conversion to retirement income. There are also issues concerning locked-in funds. Affirmative has the experience and tools necessary to re-position these funds so as not to trigger a taxable disposition.