001: Adam Lancaster Shares How a Financial Planner can Personalize Your Policy

Kyle Miller talks with Adam Lancaster about the benefits of working with a financial planner.

Introduction

Adam Lancaster is a Senior Financial Planner with World Financial Group in Ottawa, ON. Adam grew up on a farm working alongside his father and was intrigued by the business aspects of farming. He studied Business Administration at Algonquin College in Ottawa while working as an Assistant Manager at a retail hardware store. During this time, a friend presented the opportunity to pursue a career in finance with WFG.

Adam shares how a financial planner can personalize your policy.

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Key points

  • [2:41] How does a third party offer similar creditor insurance and financial protection to a bank?
  • [3:40] Through a bank, you don’t really own your policy.
  • [4:10] A third party can tailor the policy to your specific needs.
  • [4:24] What kind of insurance do you specialize in?
  • [4:57] What does it mean when a large institution “underwrites at the time of a claim”?
  • [5:56] Does the extra work of a third party result in a greater cost?
  • [7:02] How does a person know how much life insurance they need?
  • [8:06] Can you share a specific example of a client who has been notably helped by life insurance?
  • [9:27] What do you mean by “term life insurance”?
  • [10:23] How often should a person come in to review their life insurance needs?
  • [11:25] Is term life insurance affordable?
  • [12:08] What is the best life insurance advice you have received?
  • [12:17] Having something is better than nothing, no matter what it is.
  • [12:34] What are three things people should look for when searching for a financial planner?
  • [13:01] A company that is a broker with access to a lot of other companies.
  • [13:26] Look for someone who can explain things simply.
  • [13:51] Ensure you work with someone who is trustworthy and relatable.

Contact Adam

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