What The Financial Experts Own – Miles Rubinoff

 

 
Life Insurance Expert Miles Rubinoff
Life Insurance Expert Miles Rubinoff

Miles Rubinoff

President, Brash Financial Inc. 

Over 20 years experience in the Financial Services industry, providing sales development and education to advisors, clients and distribution channels. I have held Senior Executive Sales Management and Leadership roles representing Insurance companies, Financial Management Companies and Brokerages working across the Country in Insurance, Investments and Insurance and Investments field.

I now focus and specialize, under my company Brash Financial Inc. Providing professional advice and strategies on Wealth Creation, Wealth Preservation and Wealth Transfer to businesses, business owners, families, and clients of all ages, in the most tax efficient ways. Protecting and saving in the best ways possible to achieve my clients goals and dreams.

 

 

 

1. What Type of Life Insurance do you own?

I own a combination of Whole Life Participating, as well as a bunch of Term 20 and some Term 10 for my short and long term family needs.

2. What factors did you consider when determining the coverage amount?

I wanted to look at what coverage I needed now and in the future, the various options available to consider, what I had to pay for how long, and what I would get for my money spent.

Did the plan chosen offer flexibility if my situation changed permanently or temporarily? If I couldn't make payments for a short period of time, would I lose coverage paid for all previous years?

What else did the plan chosen, that I pay for, lend me besides coverage for my loved ones when I am gone?

Whole Life I felt was the best suited option for me:

  • as I don't have to pay forever.
  • it gave me access to 90% of my cash value.
  • my cash value was 80%+ starting in the first year.
  • as my insurance increased in value, keeping up with inflation equal to what I was paying in the event of my death. My loved ones got the plan I purchased death benefit and the increased death benefit amount was equal to or greater than the money spent in increased death benefit.
  • as I could, at any time, spend the dividends earned to pay premiums, pay me or reduce my coverage and premium commitment and have a fully reduced paid up policy!

Lots of options and choices available now and down the road to me.

3. Do you believe in Life Insurance for Children?

Yes, I do. I own policies on both my kids. Its a way for my wife and I to tax shelter money for them besides an RESP and give them access to tax free cash when they need for: Graduate school, to start a business, buy their 1st home, renovate their home, even buy a vacation home, etc.

The money can't be lost or reduced and dividends declared aren't guaranteed but have been paid for over 100 years and declared dividends aren't effected by future returns.

4. What is The Biggest Life Insurance mistake people make?

Not buying the insurance they will need in the future and focusing on buying the cheapest coverage amount now not thinking about down the road. We are the youngest we will be today so buy what we will need today, for tomorrow, as it may be too expensive or not available due to health concerns.

Your first mortgage is not usual your last and your first child may not be your only child; having the protection you need for the future life style to be maintained, kids schooling, and retirement should all be considered. Life Insurance won't heal the loss of someone, but it will provide the money for life to go on and be maintained!

5. Outside of Life Insurance what other types of individual insurance are often over looked?

Disability- the coverage to protect your earning income if you can't go to work partially, full-time temporarily or the rest of your working life. What source of income can provide you to pay your bills and lifestyle as well as retirement?

Also, Critical Illness in the event one is diagnosed with a serious illness such as cancer, heart attack, stroke and 23 other critical illnesses. Early interventions, the ability to seek the best treatment, and taking the time to heal, in often times is hard to do when you do not have the money to do so. We insure our car and home with the best, ergo we should insure ourselves with the best too as we aren't replaceable like a car and a house.

With over 20 years experience in the Financial Services industry providing sales development and education to advisors, clients and distribution channels. I have held Senior Executive Sales Management and Leadership roles representing Insurance companies, Financial Management Companies and Brokerages working across the Country in Insurance, Investments and Insurance and Investments field. I now focus and specialize, under my company Brash Financial Inc. Providing professional advice and strategies on Wealth Creation, Wealth Preservation and Wealth Transfer to businesses, business owners, families, and clients of all ages, in the most tax efficient ways. Protecting and saving in the best ways possible to achieve my clients goals and dreams.

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