Insurance for Owners, Partners, and Key Employees

Losing one key person can be detrimental to your business and your livelihood, which is why the following insurance products may protect you from this risk:

• Life insurance — Protects your family in the event that something happens to you. This is especially important in the case of a sole proprietorship, because the owner is personally liable for all the debts of the business.

• Disability insurance — Will provide you with income for a specified period of time, if you are unable to work due to an injury or illness.

• Partnership insurance or buy-sell insurance — If your business partner passes away, partnership insurance will allow you to purchase the shares and continue running the business.

• Critical illness insurance — Provides you with a lump sum benefit, if you are diagnosed with a critical illness.

• Key person insurance — If you rely on certain key people to help run your business, protect yourself against the loss of these key employees.

Speak to our Wealth Advisor to find out how your can ensure that your business is not left vulnerable to these threats.