As a business owner, what do you want to happen to your company when you die?   


Business Life insurance has the same properties as the personal life insurance, however is corporately owned. The beneficiary is the company, and is used for whatever purpose the company’s owners see fit. The funds provided by this valuable coverage could be used to hire temporarily during this crucial time.  Key people are hard to replace and extra liquidity to attract the right people might be necessary.  Luckily, this product is available to provide these sums when typically businesses tend to suffer a drop in cash flow.

This coverage is instrumental in funding Buy-Sell Agreements.

If you partner dies, did you realize you are forced into a partnership with his/her estate…whoever that may be?   This is usually very undesirable and can cause great detriment to the ongoing management or even survival of the business.

Owners can combine Life Insurance coverage with their shareholder’s agreement to design a Buy/Sell plan to provide the funds to help each other prevent this unwanted circumstance.   The funds provided by the Life Insurance proceeds can be used to purchase the inherited shares or ownership interests from the deceased's estate.  When a shareholder’s agreement is drafted, partners predetermine the course of actions to be taken and the formulas to be used to establish the Fair Market Value duly owed to the deceased partner’s estate.  This coverage supplies the funds necessary to carry out this agreement and alleviates the financial burden from the business to allow it to continue to operate while preserving the highest value for the estate.  After all,  presumably the deceased partner would surely want their estate to get full value for all the time and sacrifice he/she had dedicated to the business.


Statistics :

There are an estimated 171,000 new cases of cancer, and 75,300 deaths from cancer that occurred in Canada this past year. 

30% of new cancer cases and 17% of cancer deaths will occur in young and middle-aged adults ages 20-59, in their most productive years of employment and raising families.

Approximately 1 out of every 4 Canadians will die from cancer.

Approximately every 7 minutes in Canada, someone dies from heart disease or stroke.