Preparing For Your First Appointment

L.I.K. & Associates Inc. offers key “Financial and Life Insurance Solutions”, we will consider all your current, future goals and ongoing aspirations.

Before your first meeting, you might find it useful to think about key areas that you would like to discuss in order to make the most of the planning service.  The following Checklist has been established to give you areas for your consideration.

Current financial position

• Assessing your assets and liabilities
• Understanding your cash flow
• Building a cash reserve
• Maintaining your cash reserve for unanticipated events
• Consolidating your loans
• Evaluating your mortgage needs
• Applying tax efficiency to your financial position

• Having the right amount and type of coverage in the event of:
  • Disability or Illness
  • Premature death
• Protecting your ability to meet savings/education objectives
• Planning for business continuation
• Protecting your personal assets
• Understanding your existing cover and employment benefits
• Providing adequate health and nursing care

• Ensuring an adequate retirement plan
• Projecting the impact of earlier or later retirement
• Buying a retirement home
• Understanding your retirement benefits, including:
  • Maintaining your lifestyle
  • Managing your future capital
  • Using your business assets for retirement

• Managing existing capital by:
  • Balancing your investments
  • Maximizing return on your savings
  • Minimizing the impact of inflation
  • Minimizing the impact of taxation
  • Establishing your risk profile
• Savings with a specific objective in mind, such as:
  • Buying a house, or second home
  • Starting a business
  • Building a balanced investment portfolio
• Providing for your children:
  • School fees
  • University or College costs
  • Helping them get on the property ladder
  • Diversification

• Minimize your taxes, including:
  • Income Tax
  • Capitals gains tax
• Using tax-efficient investments
• Applying independent taxation strategies
• Minimizing Personal taxation

• Preserving your family’s wealth by considering:
  • Wills
  • Reducing probate fees
  • Effects of capital gains tax
  • Trust strategies
• Planning for the smooth transition of:
  • Personal assets
  • Business assets