CONTACT INFO

Peter Wolgram, CPA/CGA

Insurance Advisor

HollisWealth

Vernon, British Columbia.

Certified General Accountant Chartered Professional Accountant

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Tel:

778-932-1196

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Email:

peter.wolgram@holliswealth.com

Disclaimer

HollisWealth is a trade name of Hollis Insurance Agency.  Insurance products provided through Hollis Insurance

Agency (BC) and Hollis Insurance (Alberta). The particulars contained herein were obtained from sources which we believe are reliable, but are not guaranteed by us and may be incomplete. The opinions expressed are those of the advisor alone and not those of HollisWealth. This website is not deemed to be used as a solicitation in a jurisdiction where this HollisWealth representative is not registered. Peter Wolgram is a licensed life insurance agent in British Columbia and Alberta and provides services to residents of those provinces. 

FAQ

What is the purpose of life insurance?

   The purpose of life insurance is to provide financial stability for beneficiaries that depend on the person insured, in the event of the death of the insured. These beneficiaries can include spouse, children, parents, or even business partners and corporations. Life insurance proceeds can be used to pay off debt, such as a mortgage, ensure income for dependents, and pay off taxes owed upon death (estate capital gains, etc.). Peter can help you determine what level of coverage best fits your current situation.

Can I save on my income tax by having life insurance?

In many cases, insurance policies can be structured to take advantage of Revenue Canada laws that allow for reduced taxes. In fact, several types of insurance have been designed with tax reduction in mind.

What is the difference between temporary and permanent life insurance?

   Temporary life insurance provides coverage for a specific period of time, known as the "term". Temporary life insurance is ideal for younger adults with higher debt and modest income.

   Permanent life insurance provides coverage indefinitely up to death. It is often used in conjunction with retirement and estate planning. 

What is living benefits (critical illness and disability) insurance?

Living benefits insurance includes both critical illness and disability insurance. Critical illness insurance provides a lump sum payment to the insured in the event of severe illness, such as cancer, heart attack, stroke, and many others. Disability insurance provides income replacement when the insured is incapacitated due to illness or injury.

How about health and dental insurance?

Government health insurance often excludes prescription drugs, dental costs, vision care, physiotherapists, chiropractors, massage therapists, and hospital accommodations. Individual, family, or group health and dental insurance can be used to enhance overall insurance coverage to avoid out-of-pocket costs for these expenses.

How much does insurance cost?

Insurance cost is based on health, age and type of insurance. Many basic plans are reasonably priced for the peace of mind benefit. More complicated plans generally cost more, but provide significant protection against catastrophic events.

 

Can I save on my income tax by having life insurance?

In many cases, insurance policies can be structured to take advantage of Revenue Canada laws that allow for reduced taxes. In fact, several types of insurance have been designed with tax reduction in mind.      

How do I know what insurance I need?

An insurance agent helps you analyze determine your financial needs and abilities. Once there is a clear understanding, different policies at different price points can be evaluated, and we can find the policy that best suits your unique needs.