Frequently Asked Questions

Xeta Professional Services Corp. helps individuals, families, professionals and business owners understand their insurance, investment, retirement and estate-planning needs.

Our approach focuses on understanding your financial situation, identifying potential gaps and helping you evaluate suitable strategies based on your goals, priorities and circumstances.

We work with clients at different stages of their financial journey, including:

• Individuals and families
• Business owners
• Incorporated professionals
• Physicians, dentists and other professionals
• Families planning for retirement
• Parents planning for their children's future
• Clients interested in estate and legacy planning

Every financial situation is different, so our recommendations are based on individual circumstances and suitability.

We believe financial planning should go beyond simply purchasing a product.

Our process focuses on understanding the bigger picture, including your family, income, assets, liabilities, existing insurance, investments, business interests, retirement goals and estate-planning priorities.

Our goal is to help clients make informed financial decisions with greater clarity and confidence.

The first meeting is primarily a discovery conversation.

We may discuss:

• Your financial goals
• Family situation
• Income and expenses
• Existing insurance
• Investments
• Mortgage and other liabilities
• Business or corporate interests
• Retirement objectives
• Estate-planning priorities
• Concerns or financial gaps you would like to address

After understanding your situation, we can determine what areas may require further analysis.

You do not necessarily need everything for an introductory conversation.

However, for a more detailed financial review, it can be helpful to have information regarding:

• Existing life insurance policies
• Critical illness or disability coverage
• Employer benefits
• RRSPs
• TFSAs
• RESPs
• Investment statements
• Mortgage balances
• Loans and other debts
• Corporate financial information
• Existing retirement plans

Providing accurate information helps us better understand your overall financial position.

Please contact Xeta to confirm whether a fee applies to the particular service or planning engagement you require.

Where compensation may be received from an insurance company, investment provider or other financial institution, applicable compensation and disclosure requirements will be discussed with you.

There is no single amount that is appropriate for everyone.

Your insurance needs may depend on factors such as:

• Income replacement
• Mortgage and debts
• Children's education
• Final expenses
• Family lifestyle needs
• Business obligations
• Estate taxes
• Charitable intentions
• Existing savings and insurance

A proper needs analysis can help determine an appropriate amount of protection.

Term insurance generally provides coverage for a specified period and can be useful for temporary needs such as mortgages, income replacement and family protection.

Permanent insurance is designed to provide long-term or lifetime coverage and may also include cash-value features depending on the product.

The appropriate solution depends on your objectives, affordability and financial circumstances.

Critical illness insurance can provide a lump-sum benefit if the insured person is diagnosed with a covered condition and meets the policy requirements.

The benefit can generally be used according to the policyholder's needs, which may include:

• Replacing lost income
• Paying household expenses
• Obtaining additional care
• Supporting recovery
• Paying business expenses
• Reducing financial stress

Coverage, definitions, exclusions and waiting periods vary by insurer and policy.

Your ability to earn income may be one of your most valuable financial assets.

Disability insurance may provide income protection if an illness or injury prevents you from working, subject to the terms and conditions of the policy.

This can be particularly important for professionals, self-employed individuals and business owners.

Yes.

A financial review can help identify how your different investments fit together.

We can look at areas such as:

• RRSP
• TFSA
• RESP
• Non-registered investments
• Segregated funds
• Employer retirement plans
• Corporate investments
• Risk tolerance
• Asset allocation
• Retirement objectives

Any investment recommendation would be subject to appropriate licensing, suitability assessment and product availability.

The amount required depends on several factors, including:

• Current age
• Desired retirement age
• Current savings
• Expected lifestyle
• Pension income
• CPP and OAS
• Investment assumptions
• Inflation
• Expected retirement expenses
• Other assets and sources of income

Retirement planning is generally more effective when it starts with the income you would like to have in retirement and works backward to determine what may be required.

The answer depends on your personal circumstances.

Factors can include:

• Current income
• Tax bracket
• Expected future income
• Available contribution room
• Retirement goals
• Need for access to funds
• Employer pension benefits

In some situations, using both accounts may be appropriate.

Yes.

RESP planning can help families save for a child's future education while potentially benefiting from available government education incentives, subject to eligibility and program rules.

We can help you understand contribution strategies and how an RESP may fit within your broader family financial plan.

In certain circumstances, a corporation can own and pay premiums for life insurance on the life of a shareholder, director, key employee or another person in whom the corporation has an insurable interest.

Corporate-owned insurance can involve significant tax, legal and estate-planning considerations.

Your accountant and legal advisor should be involved when implementing complex corporate insurance strategies.

Depending on the circumstances, corporate-owned insurance may help address objectives such as:

• Shareholder protection
• Key-person protection
• Business succession
• Estate equalization
• Funding tax liabilities
• Estate liquidity
• Business continuity
• Creating liquidity for surviving shareholders or family members

The structure needs to be carefully reviewed for suitability and tax consequences.

Yes.

Incorporated professionals can have different financial-planning considerations from salaried individuals.

Planning may involve coordinating:

• Personal and corporate cash flow
• Insurance
• Investments
• Retirement planning
• Corporate retained earnings
• Estate planning
• Shareholder protection
• Tax-efficient strategies

Complex tax strategies should always be coordinated with the client's accountant and legal professionals.

An Immediate Financing Arrangement is an advanced planning strategy that may involve purchasing permanent life insurance and borrowing against the policy or related collateral.

It is generally considered only for financially sophisticated clients who have significant cash flow, borrowing capacity and a long-term insurance need.

An IFA involves financial, tax, lending, and insurance risks and is not suitable for everyone. Independent tax and legal advice should be obtained before implementation.

Life insurance may provide liquidity at death that can potentially help with:

• Final expenses
• Taxes
• Debt repayment
• Estate equalization
• Business succession
• Charitable giving
• Providing an inheritance
• Preserving other estate assets

Estate planning should normally involve coordination among financial, legal, tax and insurance professionals.

Certain assets may create tax liabilities at death.

Life insurance is sometimes used as a source of liquidity to help an estate meet those obligations without having to immediately sell other assets.

Tax consequences vary significantly depending on ownership structure and individual circumstances.

Yes.

An insurance review can help determine whether your existing coverage continues to match your circumstances.

We may review:

• Coverage amount
• Policy type
• Ownership
• Beneficiaries
• Premiums
• Riders
• Existing cash values where applicable
• Business ownership
• Changes in family circumstances
• Changes in income or debt

A review does not necessarily mean replacing an existing policy.

A review may be appropriate whenever there is a significant change, including:

• Marriage
• Birth or adoption of a child
• Purchasing a home
• Starting or acquiring a business
• Incorporation
• Major income change
• New debt
• Retirement
• Divorce or separation
• Death in the family
• Significant changes in investments

Even without a major event, periodic reviews can help ensure your planning continues to reflect your circumstances.

Yes.

For corporate, estate and advanced-planning situations, collaboration with your accountant and lawyer can be very important.

Our role is not to replace your tax or legal professionals. Instead, we can work alongside them where appropriate to help coordinate the insurance and financial-planning components of your strategy.

Not necessarily.

Our preferred approach is to first understand your needs, financial circumstances, priorities and affordability.

Where a product recommendation is appropriate, we want the recommendation to have a clear purpose within your overall financial strategy.

Not all financial or investment products are guaranteed.

Insurance guarantees, investment guarantees, cash values and other product features vary according to the specific contract.

Before purchasing a product, clients should review the applicable illustration, contract, fund facts and other disclosure documents.

You can contact Xeta Professional Services Corp. through our website, telephone or email to request an introductory consultation.

We will learn more about what you are looking to accomplish and determine the appropriate next step.

Xeta welcomes conversations with both new and experienced advisors who are interested in building a professional, client-focused advisory practice.

We look for individuals who value:

• Ethics
• Client service
• Professional development
• Compliance
• Financial-planning knowledge
• Long-term relationships

Licensing and contracting requirements apply.

Our objective is to support advisor development through areas such as:

• Product education
• Needs-based selling
• Client discovery
• Case preparation
• Financial-planning concepts
• Business-owner strategies
• Compliance
• Practice development
• Client presentations

The level of support may vary depending on the advisor's experience, licensing and contractual relationship with Xeta.

Xeta's advisor model is intended to help advisors develop sustainable professional practices while benefiting from training, infrastructure, case support and access to available products and providers.

Contract terms, ownership rights, compensation and servicing responsibilities should always be clearly established in the applicable advisor agreement.

No.

Information provided on this website is intended for general educational and informational purposes only and should not be considered individualized financial, investment, insurance, tax, accounting or legal advice.

Insurance and investment strategies should be evaluated based on each person's individual circumstances, objectives, risk tolerance, affordability and eligibility.

Where appropriate, clients should consult qualified tax, accounting and legal professionals before implementing a strategy.

Products and services are subject to applicable licensing, availability, underwriting, contractual terms and regulatory requirements.