As a medical professional, it is critical to ensure all measures are taken to protect your finances right from day one. Whether it means protecting yourself against an unfortunate event ( Disability, Illness or Death), saving enough money for retirement or a more tax-efficient growth strategy, a proper plan must be put into place early in your career.

 

Goals:

  • To ensure financial security
  • To minimize and achieve income tax efficiency
  • To control financial risk and uncertainty
  • To grow, conserve and distribute wealth

 

Incorporation:

Incorporation can be a very useful strategy for minimization of taxes.  As a healthcare professional you may have the opportunity to set up a corporation and benefit from lower tax rates. Furthermore the implementation of various investment and tax strategies can allow for tax-free flow of funds on a personal level. Let us help you explore the benefits of Incorporation and see how we can make your money work for you.

 

Customized Disability Insurance Plans:

As a self-employed healthcare professional, protecting your current and future income is of utmost importance. The statistics speak for themselves. One in Four individuals will suffer a long-term disability during their careers, so nothing should be left to chance. Various programs have been created specifically for Students, Residents and Practicing Physicians, Dentists and other healthcare Professionals. Some of the advantages Include:

  • Special Discounts up to 30%
  • Possible free premiums for up to 12 months
  • Plans with limited- no medical Tests
  • Special pre-approved limits up to $25,000 per month of Benefit
  • Pre-Approval for Critical Illness and Life Insurance ( Up to 1 Million Dollars)

 

Critical Illness Insurance plans:

Critical Illness coverage is designed to protect one`s assets against the impact of any life altering illness. With up to 27 conditions covered, a well structured CI policy can provide a tax-free lump-sum payment to cover the financial burden of being diagnosed with an illness. With 1 in 3 people being diagnosed with a critical illness, CI coverage is an essential component of your financial portfolio. Other features of a CI policy Include:

  • Possible 100% return of premium after 15 years
  • Coverage of up to 27 major illnesses
  • Possible tax-shelter for incorporate professionals

 

Life Insurance Plans:

Whether using life Insurance to protect your estate / loved ones or for a more advanced tax-sheltering strategy, it will become an essential part of your financial plan. With its unique tax-classification, life Insurance is an ideal way to accumulate and transfer wealth in a Tax-Free manner. Find out more about our unique strategies and different policies to help grow your wealth.

  • Tax- free Wealth Accumulator
  • Flexible and numerous policy options
  • Protection of loved ones in the event of a sudden passing
  • Tax and estate planning tool

 

Investment and Retirement portfolios:

Managing your assets can often be complicated and confusing. Whether you are looking to grow your RRSP, TFSA, RESP, Non Registered investments or corporate investments, a sound investment plan will help you achieve your goals. Before building any portfolios, the key is to set goals, understand your investor profile and determine your true needs. From there using a mix of different investment vehicles, let one of our professionals help you grow your assets in a way that works for you!

  • RRSP, TFSA, RESP
  • Non Registered and Corporate portfolios
  • IPP ( for Inc professionals)
  • Non- Traditional investment opportunities

Financial Planning:

Securing your financial freedom must touch on all aspects of your finances. A sound financial plan covers cash flow management, retirement planning, investment planning, financial risk management, insurance planning, tax planning, estate planning and business succession planning. Oberoi Financial offers their clients all aspects of financial planning.

 

Tax and estate Planning:

Managing your taxes and estate can be a very complex issue and can often result in thousands of lost dollars as a result of mismanagement. Consult one of our in house or 3rd party consultants to ease the tax burden and ensure your taxes and estate are in order!

 

In-House Legal/Incorporation Services:

As professionals and business owners, sound legal advice will be essential to ensuring the longevity of your practice and or business. Our In-house attorney can provide the following services as required:

  1. Incorporation and Maintenance of Incorporations
  2. Contract readings and advice
  3. Tax consultations
  4. Trusts and Estate planning services

  *All Legal work will be provided on a fee for service basis. Please inquire on our Incorporation packages and other legal fees.