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Business life insurance

If you’re in business, on your own or with a partner, you have unique life insurance needs that depend on the stage of your business’ growth and your long-term goals for you, your family and your business.

Because you own a business, the majority of your wealth is likely tied up in it. You want to protect what you’ve built against unforeseen circumstances such as death or disability; you want to ensure you have liquidity when you need it so you can achieve your goals.

Your needs may include:

  • Covering a major commitment such as a mortgage or business loan
  • Retaining key employees and attracting new employees
  • Ensuring you have the funds to buy a partner’s interest at death or retirement
  • Supplementing retirement income for you and your spouse tax effectively
  • Ensuring your spouse’s lifestyle is protected
  • Ensuring taxes owing on your estate are paid, leaving your assets intact for your heirs

Here’s how life insurance can help:

  • You can use a permanent life insurance policy to help ensure your business survives your death or the death of a partner or key employee.
  • Permanent life insurance puts your premiums to work for you by also providing a cash value that you can use to help meet future financial needs or opportunities over your lifetime.
  • Some permanent life insurance policies have cash values that may accumulate over time. They can help finance a business opportunity, buy out a partner’s interest when they retire or give your business the ability to grow and change.
  • A permanent life insurance policy is an ideal way to accumulate tax-advantaged savings while you’re alive and helps you leave a meaningful gift, outside of your estate, to your heirs or favorite charity.
  • Proceeds from a permanent life insurance policy can provide your heirs or estate with the liquidity needed to pay final taxes, capital gains and settlement costs so that you can preserve as much of your estate as possible to pass on to your heirs.
  • Term life insurance can save you money by providing more coverage for lower premiums and offering you the flexibility to convert to permanent life insurance.
The information on this website is intended for residents of Ontario.
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Affiliated with Canada Life

Legal, Copyright and Trademark information.
Insurance products, including segregated fund policies, are offered through Genesis Wealth Solutions Inc., and Investment Representatives Mark Andreychuk, David Stirling, Paula Andreychuk,and Ryan Davis offer mutual funds, referral arrangements, and GICs through Quadrus Investment Services Ltd.

Important information about mutual funds is found in the Fund Facts document. Please read this carefully before investing. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Unit values and investment returns will fluctuate.
Quadrus, Quadrus and design, Quadrus Investment Services Ltd. and design, Quadrus Group of Funds are trademarks of Quadrus Investment Services Ltd.. Used with permission.
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