There are three main areas we specialize in planning for businesses, corporations, as well as their owners:

1. Employee Benefit Plans
2. Key Person Insurance
3. Insuring Partnership Agreements (buy-sell agreements)

Click Here to read what our customers say about the Insurance Footprint program for Businesses & Corporations.

Employee Benefit Plans

Whether you are a one person entity or a 500 employee company, we customize an Employee Benefit Plan that fits your company’s needs and budget. There are many options, and we take the time to help you select the best options for the plan, including:

• Life Insurance
• Accidental Death & Dismemberment Insurance
• Short-term Disability Insurance
• Long-term Disability Insurance
• Critical Illness Insurance
• Travel Medical
• Health Benefits (i.e. chiropractor, physiotherapy)
• Dental Benefits
• Vision Care

Price is always a key factor, and we constantly research the market to ensure you are getting the best value available for your Employee Benefit Plan.

Key Person Insurance

The death of an owner/manager or executive of a business can be costly for a company as he or she can be difficult to replace, and business can come to a standstill without this person. Key Person Insurance is designed to protect against this. The business owns insurance on the life of a key employee, executive, or owner. In the event of the death or disability of the employee, the insurance benefit is paid to the business, which can then use the proceeds to find a replacement and to pay ongoing bills while business may slow down.

Insuring Partnership Agreements

In a buy-sell arrangement, business partners take out life insurance on each other’s lives. In the event of the death of partner A, surviving partner B uses the policy proceeds to buy partner A’s interest in the business from his or her beneficiaries. As a result, the surviving partner is free to continue to operate the business and partner A’s family receives their interest in the estate. Just as importantly, the deceased partner’s family doesn’t get involved in the surviving partner running the business.

Example
John and Bill are equal shareholders in a successful manufacturing business. The business is worth $3 million and they have a partnership agreement stating that if either partner should die, the surviving partner agrees to buy the deceased partner’s interest in the business. John is the beneficiary of a $1.5 million life insurance policy on Bill. When Bill died, John received insurance proceeds of $1.5 million, which he used to buy Bill’s shares in the company from Bill’s estate. Therefore, Bill’s wife (beneficiary of the estate), received $1.5 million to sustain the family’s lifestyle and John is now the sole shareholder of the company.

This is an extremely important aspect that all business partners should address. We are available to discuss and structure this strategy with you and your business partner(s).