Long Term Care
Long Term Care
reliable long-term care solutions for all
Broadmoor provides long-term care insurance services by conducting thorough client assessments to understand needs and financial circumstances. Leveraging expertise in Canadian tax laws, it tailors insurance plans for tax efficiency. Collaborating with insurers, Broadmoor ensures comprehensive coverage while complying with regulatory standards. Continuous support helps clients navigate tax complexities effectively.
Adherence to Laws
Our services compliant with federal and provincial tax laws, including Insurance Companies Act, Income Tax Act, Canadian Council of Insurance Regulators (CCIR) Guidelines, Office of the Superintendent of Financial Institutions (OSFI) Guidelines, Canadian Life and Health Insurance Association (CLHIA).
What it includes
- Assessment: Evaluate clients’ long-term care needs, considering factors like health, age, and financial situation.
- Policy Selection: Choose suitable long-term care insurance policy based on assessment results and client preferences.
- Premium Payments: Pay regular premiums to maintain coverage and eligibility for benefits.
- Care Access: Access long-term care services and facilities as needed, covered by the insurance policy.
- Benefits Utilization: Utilize benefits to cover expenses related to long-term care, such as nursing home fees or home healthcare services.
benefits to you
How we work
Understanding Client Needs
Consult with clients to grasp their requirements, goals, and preferences, ensuring alignment with their financial strategies.
Implementing Efficient Systems
Introduce easy-to-use tools and processes tailored to client needs, promoting accuracy, compliance, and streamlined operations.
Providing Feedback and Support
Offer continuous assistance, communication, and training to ensure clients effectively utilize systems and address any concerns.
What we will deliver to our clients
- Needs Assessment: Conduct comprehensive assessments to understand clients' long-term care needs and financial situations.
- Compliance Assurance: Ensure that long-term care insurance plans comply with Canadian provincial and federal tax laws and relevant government acts.
- Tax Optimization: Structure insurance plans to maximize tax benefits for clients while remaining compliant with tax regulations and government acts.
- Coverage Customization: Customize insurance packages to meet the unique needs of individual clients, ensuring comprehensive coverage.
- Legal Documentation: Prepare and maintain all necessary legal documents and contracts related to long-term care insurance plans, ensuring compliance with government acts and regulations.
- Education and Guidance: Provide personalized education and guidance to clients regarding their insurance benefits and tax implications under Canadian law.
- Claims Assistance: Offer support and assistance to clients during the claims process, ensuring timely reimbursement and compliance with regulatory requirements.
- Regulatory Updates: Stay updated on changes in Canadian tax laws, provincial regulations, and relevant government acts, and communicate updates to clients.
- Reporting and Filing: Assist clients with the preparation and submission of required reports and filings to government agencies, such as the Canada Revenue Agency (CRA).
- Compliance Monitoring: Monitor insurance plans for compliance with tax laws and government acts, providing guidance and adjustments as needed.
- Cost Management: Develop strategies to help clients manage insurance costs while maximizing tax benefits and maintaining comprehensive coverage.
- Conflict Resolution: Provide mediation and resolution services for any disputes related to insurance coverage, ensuring compliance with legal requirements.
- Communication: Maintain open communication channels with clients to address questions, concerns, and changes in their insurance coverage or tax laws.
