Protect
what matters.
Insurance planning and financial services designed to help you identify your goals and help you achieve them.
Hi there.
We’re Grimaudo.
We're a full-service insurance brokerage and financial services company dedicated to collaborating with donors and registered charities. Our expertise lies in using life insurance strategies to maximise charitable contributions and enrich family legacies.
At Grimaudo, we act as an intermediary between donors and registered charities, utilising life insurance to enhance charitable giving and preserve family legacies. We achieve this by integrating life insurance policies into donors' financial planning, directing benefits to designated charities upon the policyholder's passing. Our goal is to create a seamless and impactful connection between individuals or families supporting charitable causes and the organisations in need of assistance. Additionally, we help Canadians plan their personal insurance to protect their families, maximise their estates, and make a lasting positive impact on their chosen charitable causes.
We work with more than 20 national insurance carriers. We’ve got you covered!
OUR PARTNERS
Welcome to the family, our mission is to:
We empower clients to leave a lasting legacy and shape the future through strategic insurance planning and amplified charitable donations using life insurance.
We specialise in working with donors and registered charities to maximise charitable giving cost-effectively through life insurance. Our commitment lies in generating additional funds for your favourite charitable organisations, ensuring the safety of our clients and their loved ones, and nurturing a lasting impact on the communities and causes they cherish.
What sets Grimaudo Financial Services apart?
Personalized Attention
We don't believe in a one-size-fits-all approach to insurance and financial planning. Instead, we take the time to get to know you. That way, we can create a customized plan that fits your needs and goals.
Expertise
Our founder and financial security advisor Jack Grimaudo is an expert in his field. He and our team of professionals have the knowledge, skills and resources to assist you.
Collaboration
We believe that insurance and financial planning should be a collaborative effort between you and your advisor. We'll work with you every step of the way to make sure you understand your options and feel confident in your decisions.
Transparency
We're committed to being transparent about the services we offer. You'll always know what you're getting with us.
Long-term Focus
Our goal is to build long-term relationships with our clients and help them achieve lasting financial success.
Charitable Giving
Our expertise lies in using life insurance strategies to maximise charitable donations and enrich family legacies. We act as an intermediary between donors and registered charities, utilising life insurance to enhance charitable giving.
Customised solutions for
individuals and their families.
OUR SERVICES
-
Life insurance is a backup plan for your loved ones if something unexpected happens to you. It guarantees that your dreams will still come true and your family will be taken care of, even if you're not around to make it happen.
It can help cover debts, protect your income, pay for education expenses, and cover final expenses. You can even leave an inheritance, use it to pay your estate taxes or donate to a charity you care about.
-
Critical illness insurance pays a lump sum of money to the policyholder if they get diagnosed with a serious illness, such as cancer, heart attack, or stroke.
This payment helps to pay for things like medical bills and travel expenses, even if the policyholder can't work.
-
Disability insurance is like a safety net for your finances if you become unable to work due to a covered disability.
It helps you replace a portion of your income, so you don't have to stress about money while you focus on getting better.
-
Long-term care insurance is a safety net that helps protect your finances and help fund the cost of care if you become unable to take care of yourself later in life.
It's designed to cover the costs of things like nursing home care, in-home care, and other types of assistance you may need as you age.
-
Health insurance helps cover the cost of medications, additional medical services and hospital stays, so you don't have to worry about paying for everything out of pocket.
Dental insurance helps cover the costs of dental care, like cleanings, fillings, and other major treatments you may need to keep your teeth and gums healthy.
-
Credit protection insurance is a safety net for your finances if something unexpected happens and you can't make your mortgage, line of credit or credit card payments.
It helps cover the payments for you, so you don't fall behind on your bills and damage your credit score.
-
Travel insurance provides coverage for the unexpected while traveling, such as trip cancellations, medical emergencies, lost or stolen baggage, and more.
Whether you are going on a family vacation, a business trip, international students, Snowbirds or visitors to Canada. We offer a range of coverage options to suit your needs and budget.
-
Annuities
An income annuity is an easy way to convert a portion of your savings into regular income, either for a set period or your entire life.
Even if you don’t have a pension, you can create your own and count on a steady income for as long as you need, no matter how the markets or interest rates behave. It can help cover your essential expenses or let you enjoy the retirement lifestyle you desire.Segregated Funds
Segregated funds are a type of investment product that combines the growth potential of mutual funds with the security of an insurance contract.
They're like a hybrid between a mutual fund and an insurance policy.
-
For businesses that care about protecting their employees and their families! Retain and attract high-quality employees with hassle-free group insurance plans.
-
Employer-sponsored plans that provide retirement income to employees. Contributions made by both the employer and employee, and the investment earnings grow tax-free until retirement.
-
Similar to individual RRSPs, instead offered by an employer and allow employees to contribute a portion of their income on a pre-tax basis. Employers may make matching contributions.
Tailored solutions available for businesses.
-
Employer-sponsored plans that allow employees to share in the profits of the company. Contributions are made by the employer, and the funds are distributed to employees at retirement or at a predetermined time.
-
Similar to individual TFSAs but offered by an employer. Contributions are made with after-tax dollars, but investment earnings grow tax-free, and withdrawals are tax-free.
-
Premiums for life insurance are relatively low compared to the potential payout. This means that, over time, the total benefit amount donated to the designated charity, could be significantly surpass the amount that was paid into the life insurance policy
-
Since life insurance policies often offer a larger payout compared to the total premiums paid, the size of the donation to the charity can be more substantial than what might have been possible through a direct cash donation. This allows individuals to leave a more significant and lasting impact on their chosen charitable causes.
-
In Canada, charitable donations made through a create a tax receipt either, providing further financial benefits. You will need to choose when you’d like to receive the tax benefits, either during your lifetime or for your estate.
Comprehensive life insurance options for charitable giving.
-
Life insurance proceeds typically bypass the estate, ensuring that the designated charity receives the donation quickly and without the expenses and delays associated with liquidating an estate. This means that the charity can access the funds more efficiently, maximising the impact of the donation.
-
Life insurance can be integrated into estate planning, allowing individuals to align their charitable goals with their overall financial and legacy plans. This integrated approach can result in a more efficient and effective strategy for charitable giving.
Donating to your favourite registered charity using life insurance
Giving the gift of life insurance to your favourite registered charity or organisation can be the most cost-efficient way to donate to a cause that you care deeply about.
The cost-efficiency is rooted in the combination of relatively low-cost premiums, the ability to create a larger impact with a more significant legacy, the tax benefits, and the streamlined transfer of funds.
For Donors
Donors can give generously and choose when they want to fully benefit from the tax credit that their charitable donation creates, so long as the beneficiary of the donation is a registered Canadian charity.
There are three types of registered charities. Every registered charity is designated as a charitable organisation, public foundation, and private foundation.
The benefits:
Life insurance amplifies the amount of your charitable gift.
You have the strong satisfaction of knowing that you are giving back to your local hospital, preferred charity or your alma mater!
You can create a lasting memorial to your life or the life of a loved one.
You or your estate benefit from income tax relief now or in the future for the face amount of the policy.
Your charitable gift does not have to impact the money you leave to your family. In fact, you can leave more money by using this strategy and receive a tax credit and ultimately pay less taxes, in the year you pass away. Meaning your family can inherit more of your hard earned wealth.
For Charities
Do you operate a registered charitable organisation in Canada? If yes, do you know that your charity can benefit from the amplified generosity of donors, who use life insurance to donate money to charity?
The benefits:
A donor can designate the charity as the beneficiary on a new or existing life insurance policy and the charity will receive a substantial donation in the year of the donor's death.
A donor can consider transferring an existing or new policy to the charity, with a pledge to pay the annual life insurance premiums each year. The donor will receive a tax receipt for premiums paid each year and the charity will receive the death benefit proceeds upon the death of the donor.
A charity can purchase a life insurance policy on the life of a donor. The donor pays for the policy and the charity owns and controls the policy. The charity can access any cash value the policy accumulates, tax free during the life of the donor. When the donor passes away, the charity receives the life insurance proceeds, tax free.
Personal vs. corporate donations
Depending on how a donor gives money, either personally or from their business, there are important tax benefits to consider:
Donation by an individual |
Donation by a corporation |
|
|---|---|---|
| Tax Benefit | Receives a non-refundable tax credit | Receives a tax deduction |
| Result | Income taxes are generally reduced by approximately 50% of the amount of the donation (Depending on province, amount donated and the donor's marginal tax rate) | Reduces its taxable income by the full amount of the donation |
| Limits | Can use the charitable donation credit up to 75% of the net income in the year | Can use charitable deduction up to 75% of its taxable income in the year |
| Carry-forwards | Unused charitable donation credits can be carried forward for up to five years, subject to the 75% limit | Unused charitable donation credits can be carried forward for up to five years, subject to the 75% limit |
Get started today!
We're here to help you achieve your financial goals. Book an introductory session to learn more.
300 – 1350 Blvd. René-Lévesque W,
Montréal, Quebec H3G 1T4