IMMEDIATE FINANCING ARRANGEMENT (IFA)
FOR CANADIAN CORPORATIONS
An IFA is a practice whereby you take out a premium life insurance policy that has a cash building component, such as an exempt whole or universal life insurance policy, and then directly use the policy as collateral to obtain a loan.
How the IFA works to help you get more tax deductions?
6 Reasons Why Retirement Planning
Should Be Your Priority
Retirement management has several benefits that range from both personal and psychological
to financial. Here are several advantages and common reasons for effectively planning your
retirement. As popular saying
“If you fail to plan, you are planning to fail!”
How to prepare yourself to face life- threatening situations and make the right financial decisions?
Each one of us begins a new day praying to God for the future of our family and ourselves. We step out of our home for work or any reason without knowing what is going to happen. Many personal unexpected situations might affect your family at large.
Table of content:
Patient Autonomy at the Heart of Advance Care Planning
The Challenges of Initiating Advance Care Planning Conversations
2. Misconceptions and Lack of Awareness
3. Cultural and Societal Norms
Tips for Initiating Conversations
Choose the Right Time and Place
Practical Tools Offered by Advance Care Planning Canada
1. My Advance Care Planning Guides
Director, Advance Care Planning Canada
Advance care planning (ACP) is a critical yet often overlooked aspect of healthcare that empowers individuals to make informed decisions about their future health and personal care. At its core, ACP prioritizes patient autonomy—ensuring that a person’s values, wishes, and preferences are respected even in situations where they may no longer be able to communicate them. However, according to the latest national poll, despite almost 80% of people in Canada believing advance care planning is important, (with 43% thinking it should be done when you’re young and healthy), only 17% have a plan in place. Key drivers in this disconnect revolve around communication.
Initiating conversations about advance care planning can be challenging for both individuals and healthcare providers. Fortunately, initiatives like Advance Care Planning (ACP) Canada offer practical tools and resources to bridge the gap and make these essential discussions more accessible and effective.
Patient autonomy is a foundational principle of modern healthcare. It emphasizes the right of individuals to make decisions about their own bodies and medical care based on their personal values, beliefs, and preferences. Advance care planning takes this principle one step further by addressing scenarios where patients might lose the ability to communicate their preferences due to illness, injury, or other circumstances.
Through ACP, individuals can proactively outline their health and personal care priorities, designate decision-makers, and ensure their voices are heard in critical moments. For example, someone might specify that they want to prioritize quality of life over life-extending treatments or express their preferences regarding pain management. By documenting these wishes, people not only assert their autonomy but also provide clarity and guidance to their loved ones and healthcare providers during emotionally charged situations. not only assert their autonomy but also provide clarity and guidance to their loved ones and healthcare providers during emotionally charged situations.
While the benefits of ACP are clear, initiating these conversations can be daunting. Many people are uncomfortable discussing topics related to illness, death, or incapacity, often viewing them as emotionally heavy or even taboo. Common barriers include:
Discussing advance care planning often means confronting the reality of mortality, which can be distressing for individuals and their families. Many avoid these conversations out of fear, denial, or the belief that they are unnecessary until a health crisis arises.
A significant number of people mistakenly believe that ACP is only for the elderly or those with terminal illnesses. This misconception prevents healthy individuals from recognizing the value of planning ahead.
Cultural attitudes toward death and dying can heavily influence an individual’s willingness to engage in advance care planning. In some communities, discussing end-of-life matters may be considered disrespectful or pessimistic.
For individuals with disabilities or those from diverse cultural and linguistic backgrounds, standard ACP resources may not be inclusive or relevant, further complicating the process of starting these discussions.
Look for natural opportunities to bring up advance care planning, such as during family gatherings, after a medical appointment, or while discussing future plans. A calm, private setting can help make the conversation feel comfortable and meaningful.
Share a personal experience or news story about someone who benefited from planning ahead—or faced challenges without it. This can make the conversation feel relatable and less intimidating.
Begin with gentle, thought-provoking questions like, “What’s most important to you when it comes to your health and care?” or “Have you ever thought about who would speak for you if you couldn’t speak for yourself?”
Focus on how planning ahead ensures their voice is heard, their wishes are respected, and their loved ones are supported. Highlight the peace of mind it can bring for everyone involved.
Leverage tools and resources to guide the conversation. Having a resource to review together can make the process feel less overwhelming and more structured.
ACP Canada provides a range of tools and resources designed to make ACP more accessible, inclusive, and actionable for all people in Canada:
A selection of user-friendly guides helps individuals reflect on their values, explore what matters most to them, and document their health and personal care preferences. These guides break down the process into manageable steps, making it easier for people to approach what might otherwise feel like an overwhelming task.
Recognizing the diverse needs of people in Canada, ACP Canada has developed resources tailored to various accessibility requirements including both physical and cognitive disabilities. In addition, the ACP Canada website can be translated at the click of a button into the most common languages used across the country.
ACP Canada offers a range of resources to help you navigate the legal aspects of ACP, including regional summaries, a legal terminology tool, and the Living Well, Planning Well Guide for Accessing your Rights.
A collection of powerful, real-life experiences that highlight the importance of planning ahead. These personal accounts showcase how advance care planning can provide clarity, peace of mind, and support for individuals and their loved ones during challenging times.
Advance care planning doesn’t have to be a monumental task. It can start with a quiet talk with a loved one over coffee, a meeting with a healthcare provider, or if you’re not ready for a conversation, some self-reflection and learning. The My Advance Care Planning Guide provides a roadmap to help you through the process and start wherever feels right.
It’s important to remember that ACP is a dynamic process that can evolve over time. Revisiting and updating your plans as circumstances change ensure they remain aligned with your wishes.
Advance care planning is a proactive step that ensures your healthcare choices are respected, provides peace of mind for your loved ones, and gives you a sense of relief that your wishes are understood.
We can create a culture where planning for the future is seen as an act of empowerment rather than apprehension.
With practical tools and resources from Advance Care Planning Canada, individuals and families across the country can take meaningful steps toward safeguarding their autonomy and ensuring their voices are heard. The key is to start today. After all, if not you, who? If not now, when?
Comprehensive planning for future health care allows individuals to articulate their values and wishes clearly, ensuring they are respected even when they may not be able to communicate themselves. For instance, detailing preferences for treatments like pain management can greatly improve the quality of life during critical phases, providing clarity for both family and health care providers.
When faced with an emergency, having clear health care decisions documented enables your Substitute Decision Maker (SDM) to act promptly and confidently. This level of preparedness alleviates stress for loved ones, ensuring decisions made during high-pressure situations are in line with your health care needs and preferences.
Open dialogues about health care preferences foster a deeper connection between patients and their health care team. This approach encourages providers to take a personalized care approach, aligning treatments with patients’ personal care decisions and enhancing mutual trust within the healthcare relationship.
Image Prompt: A doctor and patient engaged in a thoughtful discussion in a warm, inviting office, showcasing partnership in care.
Just as discussed in ‘Financial Freedom and Retirement Planning: A Life-Long Journey,’ the process of strengthening patient-provider interactions is a continuous effort that ensures your preferences are respected at every stage of care."
Creating a personalized care strategy acts as a meaningful gift for your loved ones. This documentation clarifies your health care needs and preferences, allowing family members to focus on emotional support rather than guessing what you would have wanted in challenging times.
Having a well-structured plan helps individuals navigate tough conversations surrounding medical choices. This preparation ensures that individuals can express their preferences regarding interventions like surgery or life support, ultimately guiding family and medical personnel in these critical scenarios.
Failing to plan can lead to both emotional turmoil and financial strain. Without clear directions, family members might face unexpected expenses from extensive medical interventions, illustrating the necessity of establishing a thoughtful care strategy in advance to protect both budget and emotional health.
Inadequate planning, whether for health care or retirement, can lead to financial strain. This is why having a comprehensive approach, as discussed in ‘6 Reasons Why Retirement Planning Should Be Your Priority,’ is essential for long-term financial and emotional security.
It’s essential to incorporate planning discussions for young adults, helping them understand the significance of voicing their health care decisions early on. Equipping them with this knowledge may save them from unnecessary legal complications or emotional strains later in life.
Having a comprehensive approach to health care empowers individuals to chart their medical journeys according to their values, ensuring their preferences are taken into account during all stages of care, regardless of the circumstances.
Taking control of your healthcare wishes provides peace of mind, reducing anxiety about future medical situations. Knowing that your preferences are established allows for a calmer mental state and a more positive approach to potential health challenges.
Integrating health discussions into family traditions cultivates a culture of care and understanding, paving the way for dedicated planning. This engagement strengthens family ties and encourages each member to express their needs and preferences openly.
A strategic approach to managing chronic pain and other health issues emphasizes the individual’s right to opt for treatments that ensure their quality of life is prioritized, making it easier for healthcare providers to align efforts with patient goals.
Clarifying your medical wishes in advance can significantly reduce the prevalence of unwanted procedures. This proactive measure promotes better informed decisions regarding your care, ensuring that actions taken align with your vision of a fulfilling life.
Understanding the historical evolution of healthcare strategies illustrates the increasing emphasis on patient rights and preferences. This historical perspective fosters appreciation for the present resources available, showcasing how far we've come in prioritizing patients’ needs.
Facilitating discussions about health care within families can create understanding across generations, encouraging older and younger family members to voice and appreciate their unique perspectives and preferences regarding medical care.
Leadership in health care helps promote inclusive practices that advocate for culturally sensitive care. Empowering vulnerable communities to address their unique health needs fosters better outcomes and increases trust within diverse patient populations.
Financial strategies, such as those outlined in ‘How to Ensure You Don’t Run Out of Money in Retirement,’ go hand-in-hand with compassionate leadership, ensuring that both medical and financial needs are met throughout your journey.
Proactive health care planning is vital for ensuring that individual values, wishes, and preferences are honored throughout one’s medical journey. By engaging in open conversations and utilizing available resources, individuals can empower themselves and their loved ones to make informed decisions regarding health care needs, enhancing both the quality of care and emotional well-being. Embracing this practice fosters a culture of respect and understanding, paving the way for compassionate healthcare experiences that benefit everyone involved.
IMMEDIATE FINANCING ARRANGEMENT (IFA)
FOR CANADIAN CORPORATIONS
An IFA is a practice whereby you take out a premium life insurance policy that has a cash building component, such as an exempt whole or universal life insurance policy, and then directly use the policy as collateral to obtain a loan. In this way, you gain the full benefit from the insurance policy, yet you are still able to use your money to build your business or to invest in other income-generating avenues.
How the IFA works to help you get more tax deductions?
6 Reasons Why Retirement Planning Should Be Your Priority
Retirement management has several benefits that range from both personal and psychological to financial. Here are several advantages and common reasons for effectively planning your retirement. As popular saying
“If you fail to plan, you are planning to fail!”
How to prepare yourself to face life- threatening situations and make the right financial decisions?
Each one of us begins a new day praying to God for the future of our family and ourselves. We step out of our home for work or any reason without knowing what is going to happen. Many personal unexpected situations might affect your family at large.
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Kanwaljit (Sunny) Kochar DBA Hexavision Enterprise is licensed to sell Segregated Funds investments, Life and A&S Insurance products in Ontario, Alberta, QC, NB, SK, NS and British Columbia. Not available in other provinces.
License #s: FSCO LIC#17161321 (ON), AIC LIC # M-3493167-1763384-2020 (AL), BC LIC#LIC-2020-0022136-R01 (BC). Insurance and segregated funds provided by Carte Risk Management Inc.
@ 2025 Hexavision Enterprise| Terms And Condition| Privacy Policy | Advisor Disclosure
© 2025 Hexavision Enterprise. All rights reserved
Our Service Area
Ontario | Quebec
Alberta | Nova Scotia
British Columbia | Saskatchewan
New Brunswick
Working Hours
🟢 Monday to Friday : 9:30 - 6:30 EST
🔴 Saturday and Sunday : Closed
Join Our Blogs/Newsletter
Kanwaljit (Sunny) Kochar DBA Hexavision Enterprise is licensed to sell Segregated Funds investments, Life and A&S Insurance products in Ontario, Alberta, QC, NB, SK, NS and British Columbia. Not available in other provinces. License #s: FSCO LIC#17161321 (ON), AIC LIC # M-3493167-1763384-2020 (AL), BC LIC#LIC-2020-0022136-R01 (BC), AMF LIC# 2023-CI-1016414(QC), LIC # 087345 (SK), FCSC LIC# 220039066 (NB) Insurance and segregated funds provided by Carte Risk Management Inc.
@ 2025 Hexavision Enterprise| Terms And Condition| Privacy Policy | Advisor Disclosure
© 2025 Hexavision Enterprise. All rights reserved