Business Protection
Business Overhead Insurance/Business Disability Insurance
How long would your business survive if you were temporarily disabled? How would you pay the salaries of your employees and meet your monthly expense obligations? Some statistics would have you believe at least 50% of persons aged 35 will suffer a disability lasting at least 90 days before they attain the age of 65.
When a disability occurs, generally three things are sure to happen to a business owner:
These policies also work where there is more than one owner. If there is a business partner each partner can take out a policy to accommodate their share of the expenses.
The premiums paid for the business overhead expense insurance is a legitimate, tax-deductible business expense; however, the benefits are treated as taxable income when paid.
Any agreements and insurance polices within a business must be integrated with the overall plan and objectives of the business. Careful consideration must be given to the selection of the plan which is right for your business and to the method of funding your plan.
Key Person Insurance
Insuring your company's assets is extremely important, but have you considered insuring the people and skills that make your company work? How would your company cope if one of your key people were to die suddenly, or become unable to work due to illness or injury? Apart from the personal shock, how would it affect your company's viability? Would your company have sufficient cash reserves to fill the vacancy with a quality temp while you look for a full time replacement? Would your lenders be concerned about the potential losses to your business? Would you be able to meet your customers' orders, or would they need to move to a competitor to have their orders filled?
We can help you arrange appropriate coverage to provide your company with a lump sum, or a benefit paid monthly, in the event that a key person dies or becomes unable to work due to illness or injury. These funds can help to pay ongoing expenses while you fill the vacancy or compensate your company for possible loss of new and existing business.
Please contact us today for your no-obligation consultation. We look forward to helping you and your family.
Health and Welfare trust
A Health and welfare trust (HAWT) or Health and welfare plan (HAWP) is a tax-free vehicle for financing a corporation's healthcare costs for their employees.
A Health & Welfare Trust (HWT) is an arrangement through which an employer can provide certain benefit programs to employees, including a private health services plan (“PHSP”) as defined under the Canada Revenue Agency (CRA) guidelines. One or more employees may be covered under an HWT. A HWT is a specific trust that satisfies certain requirements as set out in CRA guidelines.
We here at Criticalinsurance.com understand your ever changing insurance needs, and can help you with unmatchable health and welfare plans. For more details please contact us.
Business Overhead Insurance/Business Disability Insurance
How long would your business survive if you were temporarily disabled? How would you pay the salaries of your employees and meet your monthly expense obligations? Some statistics would have you believe at least 50% of persons aged 35 will suffer a disability lasting at least 90 days before they attain the age of 65.
When a disability occurs, generally three things are sure to happen to a business owner:
- their regular living expenses will continue to occur;
- business expenses will continue to occur; and,
- at this most inopportune time, the income earned from the business will be severely interrupted.
These policies also work where there is more than one owner. If there is a business partner each partner can take out a policy to accommodate their share of the expenses.
The premiums paid for the business overhead expense insurance is a legitimate, tax-deductible business expense; however, the benefits are treated as taxable income when paid.
Any agreements and insurance polices within a business must be integrated with the overall plan and objectives of the business. Careful consideration must be given to the selection of the plan which is right for your business and to the method of funding your plan.
Key Person Insurance
Insuring your company's assets is extremely important, but have you considered insuring the people and skills that make your company work? How would your company cope if one of your key people were to die suddenly, or become unable to work due to illness or injury? Apart from the personal shock, how would it affect your company's viability? Would your company have sufficient cash reserves to fill the vacancy with a quality temp while you look for a full time replacement? Would your lenders be concerned about the potential losses to your business? Would you be able to meet your customers' orders, or would they need to move to a competitor to have their orders filled?
We can help you arrange appropriate coverage to provide your company with a lump sum, or a benefit paid monthly, in the event that a key person dies or becomes unable to work due to illness or injury. These funds can help to pay ongoing expenses while you fill the vacancy or compensate your company for possible loss of new and existing business.
Please contact us today for your no-obligation consultation. We look forward to helping you and your family.
Health and Welfare trust
A Health and welfare trust (HAWT) or Health and welfare plan (HAWP) is a tax-free vehicle for financing a corporation's healthcare costs for their employees.
A Health & Welfare Trust (HWT) is an arrangement through which an employer can provide certain benefit programs to employees, including a private health services plan (“PHSP”) as defined under the Canada Revenue Agency (CRA) guidelines. One or more employees may be covered under an HWT. A HWT is a specific trust that satisfies certain requirements as set out in CRA guidelines.
We here at Criticalinsurance.com understand your ever changing insurance needs, and can help you with unmatchable health and welfare plans. For more details please contact us.
These conditions are covered by a Critical Insurance Policy*
- Heart Attack
- Bypass Surgery
- Multiple Sclerosis
- Cancer
- Alzheimer's Disease
- Kidney Failure
- Parkinson's