Calculating YOUR CARBON Footprint Calculating ... - ClimateCHECK

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FARMFINANCE By Sharon Laidlaw A critical decision Investing in critical illness insurance means business as usual while you recover You or one of your employees has just been diagnosed with cancer. What will happen to the business is often your first thought. Not too worry, if you’ve invested in critical illness insurance, says Colin Corner, senior consultant for The Wealth & Benefits Group, based in Brantford, Ont. This specific type of policy differs from illness and disability insurance. For one, critical illness pays out a tax-free lump sum benefit and covers such things as heart attack, cancer or organ failure. “It’s an excellent option for dairy farmers because it enables them to hire someone immediately to help run the business,” says Corner. If you decide to sell your farm to a third party, you can use the funds to pay for any capital gains tax. “It’s liquid cash to do what needs to be done quickly,” he says. As a busy dairy farmer, you have little time to think about the consequences of an injury. But, accidents and illnesses can happen to anyone at any time. A strong financial plan that includes disability insurance can provide much needed income in the event of an injury or illness. Disability insurance is paid as a monthly benefit and can be harder for farmers to acquire, says Corner. Dairy farmers have to prove their annual income, which can be challenging because in many cases, after deducting all operating and overhead costs, a producer’s net earnings are substantially reduced. This makes it difficult to get the proper amount of coverage since it’s based on earned income. Investing in critical illness insurance sooner rather than later can save you a lot of heartache down the road. 32 | July 2008 | MilkPRODUCER
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Page 1 and 2: July 2008 Publications Mail Sales A
Page 3 and 4: the PRODUCER 8 In This Issue Vol. 8
Page 5 and 6: EDITOR’SNOTES By Bill Dimmick THE
Page 7 and 8: WestfaliaSurge offers three Kool Wa
Page 9 and 10: You want quality equipment cooling
Page 11 and 12: fetalattraction www.vetoquinol.ca
Page 14 and 15: Dairy farmers support new labelling
Page 16 and 17: TTR regulations take effect Aug. 1
Page 18 and 19: DFCPROMOTION By Julie Lefebvre Part
Page 20 and 21: How Green Can You Grow? Greenhouse
Page 22 and 23: You can continue on this green path
Page 24 and 25: Break down the barriers to improve
Page 26 and 27: FARMPROFILE By Bill Dimmick Team pl
Page 28 and 29: Truro, Nova Scotia. She grew up in
Page 30 and 31: PROCESSORSPOTLIGHT By Sharon Laidla
Page 34 and 35: Dealing with the inevitable Besides
Page 36 and 37: effective fibre should stimulate ch
Page 38 and 39: APPLIEDSCIENCE By Ian Dohoo, Signe
Page 40 and 41: MARKETS Producers put brakes on pro
Page 42 and 43: Ontario deductions For May 2008 Ove
Page 44 and 45: YOUR ONE STOP FOR LIVESTOCK HANDLIN
Page 46 and 47: THEBACKFORTY By Sharon Laidlaw We w

Calculating YOUR CARBON Footprint Calculating ... - ClimateCHECK

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