Kiryk Financial

Retirement is just around the corner.  In another 1-2 years you will chose to live off the income/pensions you have accumulated through your working years, RETIREMENT, however will your income/pension last your life time.  Your financial planner may have helped with projections while health is good, however, what happens when health changes?  Do you realize, for every person who does not die instantly, they will need some type of care in their life!   Do you realize, there are extra costs for care!  Do you realize your disability insurance ends at age 65 or when you retire!

If your health changed tomorrow, in addition to your present living expenses, could you afford an extra $2000-$5000/month to manage your life with an illness or injury, for the rest of your life?  How would that impact your household?

Many people are considering Long Term Care Insurance for protecting their income, savings, assets, retirement plans when health changes.  Long Term Care Insurance, provides a benefit to help people manage their life with an illness or injury, now and into retirement years, lasting for life.

Over the past 10 years, Wayne Kiryk  with Kiryk Financial has helped thousands of people understand the impact of needing care in their life time.  We will address types of care, costs, Government programs, where care exists, and what you are accountable for.  Yes, when health changes, there is cost to you.  We will design a solution so that you and your spouse are not in fear of out-living your financial/retirement plans.

We are starting to see a new evolution of “Stay at Home Spouse’s”.  The stay at home spouse may be managing the children or at home affairs.  The stay at home spouse may also be the “Silent Partner”, key in the family business.  In any account, if the stay at home spouse becomes unexpectedly ill or disabled, the household and business affairs will be greatly effected.

• Who is looking after the children and household affairs?  The Healthy Spouse is required to work so that the family financial commitments  are met.
• When stay at home spouse’s health changes, it will have a snowball effect on the family business.  Not only are they effecting the families fortune, the disabled spouse may take the healthy spouse away from the family business.  It may be required that another employee may have to be hired for the family business to replace  the “Silent Partners” duties, at an added expense to the family business and family household.

The stay at home spouse is not covered through Disability Insurance, however at Kiryk Financial, we have plans that are very effective in meeting this unique need.  If health changed tomorrow, we are protecting your family business, income, savings, assets, and household.  Keeping you in control, with a plan that you tailor, meeting your needs and budget.

Many Business Owners are unable to get adequate Disability Insurance due to their Employment situation:

• Are YOU newly self employed/business owner, YOU may not be able to qualify for adequate Disability Insurance.  Many plans may need to see first year earnings before fulfilling your Disability Insurance needs.
• As a Business Owner, YOU, may not be able to leave your business, even though if YOU are injured or ill.  YOU may go from Owner-Operator, to Owner-Manager, thus still being part of your business.  Some Disability Insurance plans may not meet YOUR needs.
• Do YOU chose to write down your income for tax reasons?  Many Business Owners/Self Employed chose to write down their income through drawing dividends, expensing through the business, or other forms created by your accountant.  Most Disability Insurance Plans are based on “Earned Income”.  Thus many accounting practices to lower your marginal tax rate, may effect YOUR ability to get adequate Disability Insurance.
• Many Self Employed/Business Owners are looking for options to increase/top up their existing benefits, such as WCB.

Over the past 10 yrs, Wayne Kiryk with Kiryk Financial has successfully helped over 1200 clients when faced with these dilemma’s.  Kiryk Financial can literally create thousands of plan options to meet YOUR needs and YOUR budget.

Many people who are earning higher levels of income may be greatly under-insured for when health changes unexpectedly.  Group Plans and Individual Disability plans may lack the adequate benefit amounts you fully require, thus put a strain on your income, savings, assets, household and family.

• Traditional Disability Insurance replaces what YOUR present income goes to today, such as , mortgage, utilities, household expenses, family, etc.
• Where is the extra income coming from to support: Spouse taking time off from work to care for YOU?  Added cost to Your business as you, the Key Person is not present?  Travel for care, or added care in general?
• What would YOU feel comfortable depleting first?  Your Income, Savings, Assets or Household Equity?

Wayne Kiryk has come up with a plan to ensure that when health changes unexpectedly, your income, savings, assets or household equity will never be compromised. We have developed strategies, that will enhance your existing disability insurance plans, with out compromising it.