Is it Time for Business Owners to Take Off Their Invincibility Cloak?

entrepreneur's invincibility cloak

Something about the phrase, “Don’t worry about it,” automatically has the opposite impact on me. Whether it comes from one of my kids or someone trying to convince me of something I’m unconvinced about, that phrase always makes me suspicious. Here is a story where a business owner was told by his business partner, “don’t worry about it,” when asked … Read More

4 Ways You Can Protect Your Family if Something Happens to your Business?

As a 20-something year old entrepreneur, I thought I was invincible. The amount of bravado that young business owners walk around with is, both inspiring and disarming. “What could happen to me?, besides I’m not married and don’t have any kids. So why would I need insurance to protect my business?” The naive, yet not so innocent words uttered from … Read More

Why It’s Critical to Pay Attention to Your Beneficiary Designation?

beneficiary designation

Whether you’re taking a contract for your business or personally, naming a beneficiary is a valuable feature of life insurance and segregated funds policies so it is important to carefully choose your beneficiaries.  Have you made any of these common mistakes with your beneficiary designation? Estate – the default choice Many people choose to name their “estate” as their beneficiary. … Read More

Why You May Want to Consider Split Dollar Critical Illness Insurance

Split Dollar CI

Split-Dollar Critical Illness Insurance or Shared Ownership refers to a concept where more than one party owns an interest in an insurance policy.  The most common of these arrangements is where the corporation is the owner and beneficiary of the death benefit and the shareholder, and an employee owns the cash value of the policy. What is Split Dollar Critical … Read More

Critical Illness: What Awaits You and Your Business if You Get Sick?

Critical Illness Insurance

Why a Doctor Invented Critical Illness Insurance Dr Marius Barnard invented Critical Illness insurance. Marius assisted his brother Dr Christiaan Barnard in performing the first successful heart transplant in 1967 in South Africa. Through his years of dealing with cardiac patients, Marius observed that those patients that were better able to deal with the financial stress of their illness recovered … Read More

Why is Key Person Insurance So Important to your Business?

key person insurance

A Risk, Your Business, Can’t Afford To Make Most business owners understand that assets vital to the success of the enterprise should be insured.  Premises are routinely covered for fire and/or theft; vehicles used to make deliveries, insured; machinery needed for manufacturing, also insured. Given that these tangible assets are instrumental in the success of the business, it makes good … Read More