THE LIFESTEP PROCESS

GROW YOUR WEALTH,

PROTECT YOUR ESTATE

The LifeStep Process uses leveraged life insurance as a tool to make the estate more tax efficient for both the client and his or her beneficiaries. It's a method we've used for over 20 years to help high net worth Canadians protect their wealth, and as a way that enables advisors to enhance their practice's service capabilities.

Developing a plan requires input from accountants, lawyers and doctors as well as an investment of time by the client and his or her family. The LifeStep Process keeps it organized and on course.

Attention to every detail ensures that the plan is built precisely to the client’s situation, implementation is streamlined, and the plan delivers results as promised year after year.

  1. The Discovery Process             
       - Fact finding and client qualification 
  2. The Strategy Builder                
       - Plan development and customization  
  3. The Strategic Implementor    
       - Policy approval and plan implementation
  4. The Performance Optimizer  
       - Ongoing plan management and reporting

"My questions and concerns were fully addressed at every stage of   the process." 

 Bekir Elmaagacli, Managing Director 
 Anatolia Tile & Stone 
 Vaughan, ON - August 2016 

THE DISCOVERY PROCESS

The Discovery Process pinpoints which clients have the most to gain from an insurance-based tax and estate plan. With the advisor's input, we assesses whether The LifeStep Process can create significant benefits for the client. There is no obligation and a client’s identity is not revealed to us during The Discovery Process. 
  Discover Stage          
  1. Client profiling
  2. Client qualification
  3. Client anonymity
  4. No cost or obligation

"By donating part of my policy to charity, I can both give and receive." 

 Paul Hill, Chairman, President and CEO
Harvard Developments Inc.
 Saskatoon, SK - June 2018

THE STRATEGY BUILDER

The Strategy Builder maps out the plan's structure, cash flow and windup results in plain English. It shows the math and answers the questions clients and advisors need to know before deciding if an insurance-based plan is worth investigating and implementing. 

We use the facts gained from The Preliminary Viewpoint along with advisor input to design the plan for the client’s unique business, personal and wealth transfer goals.

A plan takes about three weeks to prepare. Westward does not charge for the initial assessment. We only present it to the client if the advisor agrees that the plan offers significant benefits and further consideration is worthwhile.

  Build Stage          
  1. Build plan
  2. Advisor review
  3. Client review
  4. Engage to proceed

"Outstanding service. The preparation is meticulous and they're at the     ready with assistance whenever called on." 

 SE - Advisor 

 Vancouver - April 2018 

THE STRATEGIC IMPLEMENTOR

A life insurance policy is at the heart of the plan. That's why we go the extra mile to make sure each client receives the best coverage possible.

Westward takes care of the paperwork and keeps everything on track. We work with the client, the family members as well as the advisor and doctor to collect financial and health information and make sure the application is prepared perfectly. 
 

As a result, a client often receives an offer in as little as two to three months, and can quickly begin to achieve their plan’s tax and estate benefits.

  Implement Stage          
  1. Underwriting
  2. Technical review
  3. Offer negotiation
  4. Implementation

"I just received notice that the CRA has accepted the interest deductions for 2014-2016 and has now closed the file. Thanks for all your work putting the information together for our response."  

 BJ – Advisor 

 Vancouver – March 2018

THE PERFORMANCE OPTIMIZER

On-going management ensures that each client's plan delivers results as promised. The Performance Optimizer includes active management of the plan for as long as it is in force. Annual reviews measure performance so clients are never in the dark about whether their plan is achieving its goals. We also provide advisors with all the documents needed for tax reporting.

The LifeStep Process adapts to changing needs and circumstances. If tax laws change, a business is sold or new opportunities emerge, we recommend plan modifications to keep it on course. 

  Perform Stage          
  1. Annual reviews
  2. Anniversary management
  3. Advisor web portal
  4. Client web portal
 
 
 
 

The LifeStep Process is a registered trademark of Westward Advisors Ltd. Copyright 2016-20  Westward Advisors Ltd. All rights reserved.      Privacy Policy | Copyright