Business Details
50+ Years
experience
Trusted Financial Advisers for Physicians in Toronto
Since 1967, Levine Financial Group has specialized in providing tailored insurance, tax, wealth, and estate planning solutions exclusively for physicians. Our expertise stems from decades of dedicated service to medical professionals, negotiating industry-leading discounts through partnerships with 19 Ontario Medical Associations. We prioritize client-centric service, evidenced by our paperless operations since 2009 and community initiatives that support local charities.Our team combines deep industry knowledge with a commitment to transparency, offering non-cancellable insurance policies with customizable options like cost-of-living adjustments and conversion to long-term care coverage. Backed by affiliations with top-tier insurance carriers and Nicola Wealth, we deliver comprehensive financial strategies designed to protect physicians' income and legacies.
Services
Disability insurance
Critical illness insurance
Long term care insurance
Incorporation planning
Health spending accounts
Details
- Year established: 1967
Highlights and features
- 55+ years specializing exclusively in physician financial planning
- Negotiated 25% disability insurance discounts for Ontario physicians
- Paperless operations with dual server data security since 2009
- Exclusive focus on medical professionals' unique financial needs
- Backed by partnerships with all major Canadian insurance carriers
What people say
Extremely knowledgeable
Proactive approach
Excellent work ethic
Maximum coverage
Easily accessible
Services
Disability insurance
Our disability insurance policies protect physicians' income with customizable options including own occupation definitions, cost-of-living adjustments, and conversion to long-term care coverage. We offer non-cancellable policies with benefits up to $27,100 monthly for million-dollar earners. Our exclusive healthcare rider covers HIV/Hepatitis B&C for medical professionals.
Critical illness insurance
This service provides tax-free lump sum payments up to $2,000,000 for 25+ covered conditions including cancer, heart attack, and stroke. Policies include return-of-premium options and can be reviewed periodically to ensure up-to-date coverage. We secure 10% discounts through negotiated association rates.
Incorporation planning
We guide physicians through professional corporation setup and tax optimization strategies. Our services include analyzing TOSI rules' impact on income splitting, passive investment income tax implications, and corporate will reviews. We help reduce tax rates from 53% to 12.2% on first $500k income.
Long term care insurance
This coverage provides up to $9,000 monthly tax-free for home or facility care with lifetime benefits to age 100. Policies include inflation protection options and require no medical exams. We help physicians protect assets against unforeseen healthcare costs in retirement.
Health spending accounts
We establish tax-free HSAs for incorporated physicians to cover personal and family healthcare expenses. Services include plan design with flexible funding options and administration guidance. These accounts complement corporate tax strategies while addressing uncovered medical costs.
People
Elliott Levine
President
With over 50 years in physician financial planning, Elliott Levine has negotiated industry-leading insurance discounts through 19 Ontario Medical Associations. Recognized by Nicola Wealth leadership for creative solutions, he specializes in protecting medical professionals' income and legacies.
David Sung
Nicola Wealth President
As Nicola Wealth President, Mr. Sung collaborates with Elliott on integrated financial solutions. He recognizes Levine Financial Group's expertise in serving medical professionals and high-net-worth families across the GTA.
John Nicola
Nicola Wealth CEO
Chairman & CEO of Nicola Wealth, John Nicola acknowledges Elliott Levine's market knowledge and creative client solutions. As EY Entrepreneur of the Year recipient, he values their strategic partnership approach.
Questions
What insurance discounts do Ontario physicians receive?
Through our association partnerships, Ontario physicians get 25% disability insurance discounts, 10% critical illness savings, and competitive term life rates negotiated specifically for medical professionals.
How does incorporation benefit physicians?
Incorporation allows income tax deferral with 12.2% corporate rate on first $500k income versus 53% personal rate. We help structure tax-efficient income splitting while complying with TOSI rules.
What makes your disability insurance unique?
Our policies include exclusive healthcare rider coverage for HIV/Hepatitis B&C, future income options without medical exams, and conversion to long-term care benefits. We guarantee the highest available coverage amounts.
How do health spending accounts work?
HSAs let incorporated physicians pay for medical expenses tax-free. We help set up plans with flexible funding options and annual rollover features to maximize tax efficiency and healthcare coverage.
Can residents get insurance coverage?
Yes, medical students receive $2,000-$4,500 monthly coverage while residents qualify for $4,500-$11,000 disability benefits depending on training stage and specialty status.
