At Drake Wellington, we take the complexity of the seemingly endless options in the insurance industry and distill it down to simple and open conversations, that lead us to the right insurance solution for yourself, your family and your Corporation.
Drake Wellington Insurance is a leading, client centric, Insurance Brokerage based in British Columbia and is proudly partnered with one of Canada’s largest Managing General Agencies, IDC Worldsource Insurance Network. The team at Drake Wellington came together with one common objective – to help Canadian’s protect their financial lives in meaningful ways, and build lasting personal wealth by using innovation and carefully selected insurance strategies that fit with our client’s interests. With market research serving as a backbone and innovative insurance strategists crafting the way, the team at Drake Wellington works hard to provide the most cost effective and empowering solutions to our valued insurance clients.
As one of Canada’s largest life insurance Managing General Agencies, IDC Worldsource serves a wide variety of clientele with strategically located offices right across the country. IDC WIN is a company with a sound and stable history; from firm beginnings in Guardian Capital Group Limited in 1962, and has grown to have over 2,000 Insurance Advisors, who offer products from all major life insurers and have over $1.5 billion in segregated fund assets under administration.
Individual and Family Insurance
We help our clients review their current situations to better understand where the key gaps are in coverage, or the most pertinent risks facing each situation we encounter. Then as an independent brokerage, we shop the market to find which are the best options in each type of insurance to find the best fit and as cost-effectively as possible.
We specialize in individual and family:
– Life Insurance (Term and Permanent Universal Life and Whole Life types)
– Critical Illness Insurance
– Disability Insurance
– Long Term Care Insurance
– Travel Insurance
Corporate Insurance Strategies
When it comes to business owners with Corporations, Trusts and other Family Enterprises, new opportunities open up with multiple entities needing proper and prudent protections in place. The challenges in managing risk, succession planning, immediate financing needs and key person risk can be very important in managing and protecting your Enterprise from disastrous or unforeseen situations.
We specialize in helping business owners implement:
– Key Person Insurance
– Immediate Financing Arrangements
– Corporate Insured Retirement
– Business Succession Planning
– Employee Health Spending Accounts
– Corporate-owned Life, Critical Illness, and/or Disability Insurance
At Drake Wellington, many of our clients are those that require more safety and protection elements in their investment portfolios, and so we often look towards using insurance based investments with principal protection, the ability to avoid probate, have direct beneficiaries and other types of guarantees.
Segregated Funds are very similar to Mutuals Funds, except they come with a few added guarantee options and features. Many Segregated Fund options contain maturity and/or death benefit guarantees to aid in limiting the risk of market volatility, especially in older age or for those that have various estate planning needs. This often allows setting up direct beneficiaries for these investments, creditor protection elements and other tax planning considerations that can be very helpful.
Annuities are a tool that we use in order to reduce the risk of one’s retirement capital from market volatility and create a vehicle so that there is income provided for the life of the client. This involves taking a lump sum of capital and depositing that with an annuity provider in exchange for a stable income stream for life. There are several types of Annuities and we look towards finding solutions that are the most suitable for each client’s needs.
Guaranteed Interest Accounts are used in cases where there needs to be more flexibility in access to the capital, guaranteed interest rates with direct beneficiaries, avoiding probate and has creditor protection elements embedded in them. This family of investments includes account types such as Daily Interest Accounts (DIA), Guaranteed Income Accounts (GIA), Guaranteed Deposit Accounts(GDA) and Term Deposit Accounts(TDA).
*Insured Investments are only offered by Licensed Insurance Advisors through Drake Wellington Insurance Services Corporation.
Group Benefits & Group RSP
Drake Wellington also helps employers set up Employee Group Benefits and Group RSP’s through our network of specialists at IDC Worldsource.