Investment Club Meeting on January 21, 2025 (Webinar)

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Guest Speaker Session

Insurance for Investors: Growing and Safeguarding Your Wealth

January 21, 2025, 7:00 – 9:00 P.M
By videoconference

In our next  meeting, we will talk about insurance. Please don’t yawn.

The insurance  industry  has been dominating the news lately, because  of extreme weather episodes that have destroyed all the homes in residential communities, such as  Pacific Palisades in Los Angeles.

In Ontario, insurers are facing challenges from auto thieves who steal cars from homeowners’ garages and driveways. Criminals don’t need keys to break into vehicles. Instead, they buy devices to communicate by electronic signals with the car owner’s wireless key fob.

There’s also an increase in violent carjackings, where armed robbers attack drivers and passengers to gain control of the car and drive it away before the police give chase.  Some motorists use tracking devices to follow their cars down to the waterfront where thieves are putting the vehicles onto freight ships bound for Europe, the Middle East or South America.

Finally, there’s the infamous assassination of Brian Thompson,  CEO of UnitedHealthcare, a major U.S. private health insurance company, by  a disgruntled client, 26-year-old Luigi Mangione, on Nov. 24, 2024.

From Wikipedia:

UnitedHealthcare insures 49 million Americans and generated $281 billion in revenue for the 2023 fiscal year. Under his leadership, UHC's profits increased from $12 billion in 2021 to $16 billion in 2023. At the time of Thompson's death, the company was the largest health insurer in the United States.

Prior to Thompson’s death, he faced criticism for the company’s rejection of insurance claims, and his family reported that he had received death threats in the past. The words ‘Delay,’ ‘Deny’ and ‘Depose’ were inscribed on the cartridge cases used during the shooting.

UnitedHealthcare has repeatedly faced criticism for its approach to handling claims.  Reports of increasing rates of prior authorization denials prompted investigations by ProPublica and the United States Senate, investigations which were described as a "stain" on Thompson's time of leadership by Fortune. According to Thompson's widow, he had been receiving threats related to a "lack of [insurance] coverage.”

Here's info on the guest speakers at upcoming meeting. 
 

Insurance for Investors: Growing and Safeguarding Your Wealth

Join Promod and his son Jeevan Sharma of Taxevity Insurance for an informative session on how life and health insurance can be a valuable asset for investors.

In this session, you'll learn:

    •    How to reframe insurance as a tool for wealth protection and tax optimization.
    •    The key differences between insurance and traditional investments.
    •    How to make informed decisions when comparing insurance policies.
    •    Strategies for mitigating risks and protecting your wealth at different life stages.
    •    The importance of healthcare insurance in a comprehensive financial plan.
    •    How the “Insurance Pyramid” can help you prioritize your financial goals.
    •    Debunking common insurance myths: How to separate fact from fiction.

This session is perfect for:

    •    DIY investors who want to learn more about the role of insurance in their portfolios.
    •    Retirees who are looking to protect their wealth and ensure a comfortable retirement.
    •    Anyone interested in understanding the benefits of life and health insurance.

Here are some resources Promod Sharma recommends for reading up about life and health insurance in an objective, unbiased way.

    •    LSM Insurance (various topics)
    •       Blog: https://lsminsurance.ca/tips/life-insurance-canada/
    •       Example: Charitable Giving with Life Insurance by Promod
    •    Dundas Life (various topics)
    •       YouTube: https://www.youtube.com/@dundaslife
    •    For advisors
    •       Investment Executive: https://www.investmentexecutive.com
    •       Advisor.ca: https://www.advisor.ca
    •    Taxevity
    •       Blog: https://taxevity.com/blog
    •       YouTube: https://www.youtube.com/taxevity

About the Presenters:



Promod Sharma (FSA, FCIA)
Promod is an actuary with decades of experience in the insurance industry. He has a deep understanding of how insurance products work and can explain complex concepts in plain language.




 
 
 
 
Jeevan Sharma (CFP)
Jeevan brings a fresh perspective to Taxevity, working alongside his father, Promod, to provide clients with well-rounded advice. He is passionate about helping clients make informed decisions about their insurance needs.
 
 
 
 
Working Together
Jeevan and Promod work together on every case, ensuring continuity and comprehensive support for clients. You get the benefit of their differing perspectives and combined expertise.

About Taxevity Insurance

Taxevity Insurance is an independent, family-run insurance advisory practice specializing in life and health insurance solutions for your needs, wants, and philanthropy.
 
Promod Sharma | Actuary | FSA, FCIA, FEA (he/him)
Taxevity Insurance: for needs, wants and philanthropy
2425 Matheson Boulevard East, Suite 800,
Mississauga, Ontario L4W 5K4

Club contact: EllensDegenerates@hotmail.com
Club Blogger site: https://ellensinvestment.blogspot.com
Club Google mailing list: ellensinvestment@googlegroups.com
Club Google Group forum: https://groups.google.com/d/forum/ellensinvestment

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