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Protect your business throughout your life, leveraging its assets.
As the owner of your business, you have two options when it comes to a life insurance policy: it can be owned personally or by the business.
In the event of your death, that of a partner or a key employee, life insurance provides your business with a tax-free lump sum, in addition to helping you do more with your business’ investable assets.
Although their structures are different, participating life insurance and universal life insurance both offer tax-free growth and lifetime protection.
| Participating life insuranece | Common characteristics | Universal life insurance |
|---|---|---|
|
Growth of sums covered within your company's policy |
Life insurance protection |
Management of your risk profile and choice of investment options made by you |
|
Prudent asset management |
Guaranteed premium options |
Affordable |
|
Dividends paid to policyowners |
Guaranteed payments |
Payment flexibility |
Subject to state limits, life insurance can provide opportunities for tax-free growth, which your business can use as needed.
If a death occurs, the proceeds of the insurance can be used to redeem the partners’ shares.
You can use life insurance funds to pay off debts and pay expenses so the business can continue to operate while you find and train a suitable replacement.
It can allow the repayment of the balance of commercial debts and loans.
In addition to reducing taxes on non-operating investments, permanent insurance can be used to diversify your portfolio.
Our team can answer all your questions, understand your situation and help you build a plan
