Split Dollar Critical Illness: Would You Play the Lottery if you were Guaranteed to Win?

I’ve had some interesting discussions over the years with Business Owners about insurance in general. I’ve often heard, ” it’s expensive”, “it rarely pays out”, “nothing is going to happen to me”, “I’ll self-insure instead” (I didn’t say they were all sound arguments). Whatever the argument, no one really wants to buy insurance unless they know they will get sick. … Read More

8 Clever Uses of Life Insurance by Business Owners

Life insurance

Not many people say they love buying or the process of buying life insurance.  Who wants to discuss the eventual demise of oneself?  There are certain situations which are reliant upon life insurance to create an insurgency of cash into a business when weathering the loss of a business owner.  There are, however, clever uses of life insurance by business … 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

10 Reasons Why Group Life Insurance Won’t Adequately Protect Your Family

Ownership of individual life insurance at its lowest level in 30 years The Life Insurance and Market Research Association (LIMRA) 2013 study shines a light on a developing problem for Canadian households: Individual ownership of Life Insurance was at its lowest level in 30 years; 3 in 10 households did not have individual life insurance at all. larger dependence upon … 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

4 Key Things to Consider When Building Business Owner Wealth

business owner wealth

The Keys To Building Business Owner Wealth You’ve built a thriving and successful business. You continue to be profitable and continue to reinvest into your business while building wealth for your eventual retirement. You have a succession plan in place and a plan to exit the business at some point over the next 15 years. The plan is to work … Read More

5 Types of Business Risk Every Business Owner Should Absolutely Prepare For

Benefit Plan a Liability To Your Company

Ignoring Business Risks Could Mean Disaster for Your Family, Your Retirement, Your Business and Your Employees As business owners, we expect and accept a certain amount of risk.  If there weren’t any risk, then everyone would go into business for themselves.  Like in life as in running a business, there are smart risks, calculated risks and completely random risks.  Some … Read More