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Green Mountain Financial Services Inc.

GMFSI Insurance Strategy Roadmap

Instructions: Enter the client’s insurance needs, financial obligations and existing coverage. The roadmap automatically estimates the life-insurance shortfall or surplus.

Green Mountain Financial Services Inc.

Insurance Strategy Roadmap

A coordinated approach to life insurance, income protection, critical illness, disability, beneficiary planning and optional business-insurance needs.

GMFSI Insurance Planning

Prepared for

Client

Individual Insurance Planning

Prepared by

Madhu Shukla, CFP®, EPC

Founder & Principal Advisor

Prepared date

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1

Protection Objectives

Clarify who and what needs protection, the desired timeframe and the financial consequences of death, illness or disability.

👨‍👩‍👧‍👦

Family Protection

Protect household income, housing, education and ongoing family financial stability.

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Income Protection

Review disability and critical-illness risks that could interrupt earnings or create additional expenses.

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Business Continuity

Where applicable, review key-person, debt, shareholder and business-continuity insurance needs.

The Insurance Strategy Journey

A disciplined process for identifying financial exposure, measuring existing protection and implementing an appropriate insurance strategy.

1

Identify Risks

Review death, disability, critical illness, debt and business risks.

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2

Measure the Need

Estimate income replacement, debts, education and final expenses.

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3

Review Existing Coverage

Include personal, employer, association and business insurance.

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4

Close the Gap

Determine whether additional coverage or restructuring is required.

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5

Review Regularly

Update coverage as income, debt, family and business circumstances change.

2

Life Insurance Needs Analysis

Enter the amounts the client wishes to protect. All figures are illustrative and editable.

3

Existing Life Insurance & Available Assets

Enter coverage or assets intended specifically to reduce the identified insurance need.

4

Estimated Life Insurance Coverage Gap

The following values update automatically as the needs and existing coverage fields are changed.

Insurance Needs Snapshot

Illustrative estimate based solely on the values entered above.

Income-Replacement Need $1,000,000 Income × years × percentage
Total Estimated Need $1,050,000 Income, debt, education and expenses
Existing Coverage & Assets $0 Coverage and assets applied to the need
Estimated Coverage Shortfall $1,050,000 Illustrative amount only
The current figures indicate that additional life-insurance coverage may be required.
5

Insurance Coverage Review

Review the main protection areas and identify immediate and future priorities.

Protection Area Current Status Priority Planning Consideration
Life Insurance
Disability Income
Critical Illness
Long-Term Care / Health Contingency
6

Income Protection & Living Benefits

Review financial risks that may arise while the insured remains alive.

✓ Review the percentage of income replaced during disability.
✓ Confirm waiting period, benefit period and definition of disability.
✓ Review whether employer benefits are taxable to the employee.
✓ Estimate funds required during critical-illness treatment and recovery.
✓ Consider travel, home support, treatment and income-reduction costs.
✓ Coordinate critical-illness coverage with savings and disability benefits.
7

Ownership, Beneficiary & Policy Review

Confirm that policy structure and beneficiary designations remain current.

Policy Ownership

Confirm whether coverage should be personally, corporately or jointly owned.

Beneficiary Designations

Review primary, contingent and irrevocable beneficiary designations.

Coverage Duration

Match temporary and permanent insurance needs with the appropriate duration.

Affordability & Underwriting

Balance the desired protection with budget, health and underwriting results.

8

Business Insurance Review

Review insurance needs related to business continuity, ownership and debt.

9

Implementation Timeline

Move from needs analysis to application, underwriting and policy delivery.

Confirm Priorities Review protection goals, affordability and desired coverage duration.
Gather Information Confirm income, debts, existing policies and employer benefits.
Review Solutions Compare suitable coverage types, amounts, insurers and costs.
Submit Application Complete the application and required underwriting information.
Review Offer Review the insurer’s final terms, exclusions, ratings and premium.
Policy Delivery Confirm ownership, beneficiaries, payment and ongoing review schedule.
10

Annual Insurance Review

Keep coverage aligned with changing family, financial and business circumstances.

✓ Review income, mortgage and other debt balances.
✓ Review dependants, education needs and family circumstances.
✓ Confirm employer and association coverage remains in force.
✓ Review beneficiaries, ownership and successor arrangements.
✓ Review business debt, ownership and key-person exposure.
✓ Confirm premiums, policy status and affordability.
11

Today’s Meeting Outcomes

Record decisions, confirmations and follow-up items arising from the discussion.

12

Discussion Summary

Record important questions, decisions, priorities and agreed follow-up actions.

Important: This roadmap is intended as a discussion and planning document. The automatic life-insurance needs calculation is illustrative and is based solely on the values entered. It does not automatically account for taxes, investment returns, inflation, survivor income, government benefits, changes in family expenses, underwriting, product availability or policy terms. It is not a guarantee of coverage, an insurance contract, a tax opinion or a substitute for formal needs analysis, insurer illustrations, policy documents, underwriting or suitability requirements.

Madhu Shukla, CFP®, EPC

Founder & Principal Advisor

Green Mountain Financial Services Inc.

PROTECT • GROW • PRESERVE

Guiding Your Financial Journey with Trust & Clarity

15-Minute Clarity Session

905-921-9962

mshukla@gmfsi.ca

gmfsi.ca

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