OUR INSURANCE

Personal insurance, whether for companies or individuals, is a crucial pillar of financial security in the event of unforeseen events, offering peace of mind through careful planning and coverage tailored to specific needs.

OUR INSURANCE

Personal insurance, whether for companies or individuals, is a crucial pillar of financial security in the event of unforeseen events, offering peace of mind through careful planning and coverage tailored to specific needs.

Several types of insurance covering staff
or the company

Critical illness insurance

Disability insurance

Life insurance

Group disability

Permanent or temporary

Life and health insurance plays a crucial role in the financial protection of both companies and individuals.
It aims to provide financial security in the event of unexpected events such as death, illness, disability and job loss.
Personal insurance strategies for both companies and individuals need to be carefully designed to ensure that the specific needs of each are taken into account.

For companies, life and health insurance is of great importance.
Firstly, turnkey life insurance covers companies in the event of the death of a key employee, offering compensation that can help offset lost income or cover the costs of recruiting and training a replacement.
Similarly, key employee disability insurance ensures the company’s financial protection in the event of the key employee’s inability to continue working.

In addition, companies can take out disability insurance to provide benefits in the event of employees being unable to work due to illness or accident.
This insurance is essential for maintaining the company’s financial stability and ensuring the financial security of employees in difficult times.

For individuals, life insurance is a pillar of personal financial planning.
It provides financial protection for the family in the event of the insured’s premature death, offering benefits to designated beneficiaries that can help cover funeral costs, debts, living expenses, and guarantee the family’s financial well-being in difficult times.

Similarly, life insurance offers a savings and investment component that accumulates a cash value that can be used in the future to finance personal projects, build up an emergency fund or supplement retirement.

Disability insurance for individuals is essential to provide a source of income in the event of inability to work due to an illness or accident that prevents the insured person from supporting him/herself or his/her family.
This insurance offers crucial financial protection to mitigate the financial consequences of a period of disability.

In addition, personal health insurance is another important aspect of personal financial protection.
Health insurance provides coverage for healthcare-related expenses, including doctor’s consultations, medication, hospital treatment and specialized medical care.

It is crucial to note that life and health insurance for businesses and individuals requires a careful assessment of specific needs in order to select the right products and coverage amounts.
Companies and individuals need to consider their financial situation, family commitments, financial objectives and risks to determine the right insurance products.

It is also essential to regularly review insurance contracts to assess whether they are still suitable for current needs, and whether they need to be modified to take account of changes in financial or life circumstances.

In conclusion, life and health insurance is a fundamental part of financial planning for businesses and individuals.
It offers crucial financial protection in the event of unforeseen events, and is an essential tool for improving financial security and ensuring peace of mind.
Careful consideration of insurance needs, products and options is required to ensure adequate and tailored coverage for all stakeholders.

Life and health insurance plays a crucial role in the financial protection of both companies and individuals.
It aims to provide financial security in the event of unexpected events such as death, illness, disability and job loss.
Personal insurance strategies for both companies and individuals need to be carefully designed to ensure that the specific needs of each are taken into account.

For companies, life and health insurance is of great importance.
Firstly, turnkey life insurance covers companies in the event of the death of a key employee, offering compensation that can help offset lost income or cover the costs of recruiting and training a replacement.
Similarly, key employee disability insurance ensures the company’s financial protection in the event of the key employee’s inability to continue working.

In addition, companies can take out disability insurance to provide benefits in the event of employees being unable to work due to illness or accident.
This insurance is essential for maintaining the company’s financial stability and ensuring the financial security of employees in difficult times.

For individuals, life insurance is a pillar of personal financial planning.
It provides financial protection for the family in the event of the insured’s premature death, offering benefits to designated beneficiaries that can help cover funeral costs, debts, living expenses, and guarantee the family’s financial well-being in difficult times.

Similarly, life insurance offers a savings and investment component that accumulates a cash value that can be used in the future to finance personal projects, build up an emergency fund or supplement retirement.

Disability insurance for individuals is essential to provide a source of income in the event of inability to work due to an illness or accident that prevents the insured person from supporting him/herself or his/her family.
This insurance offers crucial financial protection to mitigate the financial consequences of a period of disability.

In addition, personal health insurance is another important aspect of personal financial protection.
Health insurance provides coverage for healthcare-related expenses, including doctor’s consultations, medication, hospital treatment and specialized medical care.

It is crucial to note that life and health insurance for businesses and individuals requires a careful assessment of specific needs in order to select the right products and coverage amounts.
Companies and individuals need to consider their financial situation, family commitments, financial objectives and risks to determine the right insurance products.

It is also essential to regularly review insurance contracts to assess whether they are still suitable for current needs, and whether they need to be modified to take account of changes in financial or life circumstances.

In conclusion, life and health insurance is a fundamental part of financial planning for businesses and individuals.
It offers crucial financial protection in the event of unforeseen events, and is an essential tool for improving financial security and ensuring peace of mind.
Careful consideration of insurance needs, products and options is required to ensure adequate and tailored coverage for all stakeholders.

Personal insurance, for both companies and individuals, provides crucial financial protection in the event of unforeseen events, offering peace of mind and security, requiring careful assessment of specific needs to select the right coverage.

Personal insurance, for both companies and individuals, provides crucial financial protection in the event of unforeseen events, offering peace of mind and security, requiring careful assessment of specific needs to select the right coverage.

Term life insurance

It’s less expensive and protects the insured person over a time horizon established at the time of purchase.
For example, in terms of years: 10, 15, 20, 25, 30, 35 and 65 years.

Short-term financial protection

Affordable premiums

Flexible duration

Using the policy as collateral for a loan

Permanent life insurance

More expensive, offering additional benefits.
Designed for long-term holding until death.
It is divided into 3 types: term, 100-year, universal life and whole life.

Lifetime protection

Cash value

Stable premiums

Tax benefits

Company | Staff

For businesses, asset protection is just as crucial.
Businesses often own significant assets, such as real estate, equipment, inventory and so on.
Personal insurance strategies for businesses aim to protect these assets against the risk of death of a key person in the company.
Life or disability insurance can cover losses related to these assets, enabling the company to recover quickly and continue operations without major disruption.

In addition, employee insurance, such as group health or disability insurance, ensures that employees are taken care of in the event of illness or disability that prevents them from working.
This is essential to maintain the company’s financial stability and ensure the well-being of its employees.

Managing the risks associated with protecting corporate assets requires a careful assessment of the company’s specific needs.
Various insurance strategies are available to meet these needs.

An important strategy is personal insurance for executives and key employees.
This can include executive life or disability insurance, which provides financial protection in the event of the death or disability of a key executive, ensuring the continuity of the business.
Similarly, life or disability insurance for key employees is essential to protect against losses caused by the unavailability of an employee who is crucial to the company.

LIFE INSURANCE

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DEATH TAXES AND EQUITY

Paying taxes is unavoidable during our lifetime, but it can also have an impact on our estate after death.
Family businesses often hold their assets in the form of company shares.
After death, these shares are bequeathed to those who run or manage the business, leaving other assets to be distributed among non-active family members.
Corporate life insurance becomes essential at this stage.
After death, a deemed disposition of the shares entails capital gains taxes, sometimes difficult to pay with the company’s liquid assets.
Corporate life insurance can serve as an effective means of financing the tax, ensuring an equitable distribution of wealth to beneficiaries via capital dividends.

BUY-SELL AGREEMENT

The buy-sell agreement is essential in private companies with several shareholders.
It sets out terms and conditions, including how shares are to be distributed in the event of a shareholder’s death.
Company-owned life insurance plays a crucial role in financing the redemption of the deceased’s shares, ensuring equitable distribution among shareholders and respecting the deceased’s wishes.
This prevents the deceased’s family members from becoming shareholders without any expertise in the company.
Life insurance proceeds can also be used to finance the purchase of shares by surviving shareholders via capital dividends.
Careful planning with a tax lawyer is essential to avoid future conflicts.

KEY PERSON PROTECTION

In business, death can occur at any time, creating financial and operational challenges.
Shareholder partnerships require protection in the event of the death of a key player.
The loss of a key person disrupts the business, creating financial pressures and making replacement difficult, resulting in lower profitability.
Life insurance offers an essential solution by providing the liquidity needed to maintain ongoing operations, thus avoiding major disruption.
Working capital remains available, and liquidity can also help train a replacement for the key person, ensuring business continuity.
This is vital protection for businesses.

LOAN PROTECTION
It is not uncommon in smaller companies for lending banks to require the shareholder to personally guarantee the loan.
In other words, the individual must guarantee the loan with his or her personal assets.
This becomes a disadvantage in the event of company mismanagement.
However, it is also a disadvantage in the event of death, as the estate will be liable for the company’s debts.
If the estate is unable to repay the outstanding debts, it may find itself in a position where it has no choice but to refuse the succession.
What’s more, life insurance is sometimes required by lenders, and can improve a company’s borrowing capacity.
That’s why it’s a good idea to have life insurance in the company.
Investment vehicle
INVESTMENT VEHICLE

Universal life and whole life insurance both allow you to contribute additional funds to an investment vehicle. When you pay your insurance premium, part of it is used for protection and part for investment purposes. The funds invested can grow tax-free, providing a tax advantage and increasing the value of the insurance policy over time. Permanent life insurance is a complex product, and the details vary from policy to policy. That’s why it’s important to talk to someone qualified in personal insurance to fully understand the product before underwriting.

CONTENTS

As we’ve shown, corporate-owned life insurance offers multiple advantages.
This protection offers the possibility of perhaps better managing operational, tax and legal risks, as well as other additional complexities.
However, it is strongly recommended that you call on advisors with the appropriate expertise for this type of case.
Normally, insurance, accounting, tax, legal and management issues are involved, so a team effort involving several professionals is desirable.
The insurance policy must be placed with the right company.
So it’s a question of planning, compliance and administration.
That’s why our team helps coordinate this financial ecosystem with our integrated financial planning.

CRITICAL ILLNESS INSURANCE

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KEY PERSON PROTECTION
You never know when a serious illness might strike.
Sometimes the illness is to some extent predictable, and other times it’s unexpected.
Usually, people in business don’t like to leave things to chance and try to manage the risk as best they can.
When a partnership exists between several shareholders, it is necessary to protect each other in the event of death, but also in the event of illness of one of the shareholders.
We could say that this is protection for one or more key people in the company.
Normally, when the illness of a key person takes shape, this upsets people, but also creates financial pressures on the company in many ways.
Sometimes, this person is no longer able to work for the company while he or she heals.
In addition to making the company’s financial situation more unstable for some time, it is often very difficult to replace the key person and his or her expertise that was necessary to the business.
Replacement can take months or years.
Once the person with the desired potential has been found, there is a time lag before he or she equals or surpasses the level of the former shareholder.
During this period, profitability and performance are impacted.
This is why critical illness insurance becomes one of the ways of protecting oneself in the event of such an unfortunate situation.
By offering liquidity, the insurance product enables the sufferer to take the best possible care.
If an additional amount has been set aside, this allows operations to continue, as working capital remains available.
Finally, the liquidity can also be used to train the new person replacing the key person.
Loan protection
LOAN PROTECTION

It is not uncommon in smaller companies for lending banks to require the shareholder to personally guarantee the loan.
In other words, the individual must guarantee the loan with his or her personal assets.
This becomes a disadvantage in the event of company mismanagement.
This is why critical illness insurance becomes one of the ways of protecting oneself in the event of such an unfortunate situation.
In this way, the liquidity offered by the insurance product enables the sufferer to take the best possible care.
If an additional amount has been set aside, this can be used to meet the financial obligations associated with a loan that a shareholder may have to take out.

GROUP DISABILITY

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PROTECTION FOR SHAREHOLDERS OR EMPLOYEES
Gives shareholders or employees protection in the event of prolonged absence.
Following sad news about your state of health, this allows you to receive a sum of money to alleviate the difficulties and consequences of your situation.
Given the financial obligations that remain under your responsibility, you need to be able to meet them.
All those monthly payments linked to your ongoing commitments.
At least, the benefits paid out under your disability insurance help you to meet some or all of these requirements.
In this way, you can maintain a fairly similar standard of living, despite your state of health.

It’s also essential to consider professional indemnity insurance, which covers claims for bodily injury, property damage or financial loss caused to third parties in the course of the company’s activities.
This insurance is crucial in protecting the company against the potentially devastating financial consequences of legal action.

Personal insurance is insurance taken out by an individual to cover personal needs or risks.
It is designed to protect the insured and his or her family against various risks, such as car insurance, home insurance, health insurance, life insurance, etc.

The insured is generally an individual.
He or she pays premiums directly to the insurance company to obtain coverage in the event of a claim.

Beneficiaries of personal insurance are often family members or persons designated by the insured.
For example, in the case of life insurance, beneficiaries may be family members of the policyholder.

LIFE INSURANCE

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PROTECTING YOUR ASSETS
When a death occurs, it’s a sad and difficult time for those who lose a loved one.
Despite the fact that the loved one is gone, life goes on.
Laws and obligations must be respected, and the government will ask for its due.
A portion of the tax on certain assets that make up the deceased’s estate must be paid.
In addition, if the deceased had incurred debts, these must be repaid.
However, the individual or group taking over the estate may decide to continue to respect the terms and conditions of the loan(s), if these permit.
Payment of funeral expenses
Income replacement
PAYMENT OF FUNERAL EXPENSES
Honoring the memory of someone who has passed away is undoubtedly an important ritual for the human species.
It’s part of the cycle of life.
Nevertheless, it’s a moment that requires preparation and monetary costs.
The purpose of life insurance, or part of it, is to cover these costs.
INCOME REPLACEMENT

Income replacement is essential for families.
Take a family of five, where the parents earn a total annual income of $170,000.
The children depend on their parents for their well-being.
If one of the parents dies, the burden of the household falls on one person.
Life insurance helps maintain the standard of living, covering both material needs (food, housing, education) and immaterial needs (education, medical care, activities).
Whether the father earns $80,000 or the mother $90,000, life insurance compensates for the loss of income, enabling the children to continue their lives without major upheaval.
That’s why income replacement is essential for families.

INVESTMENT VEHICLE
Universal life and whole life insurance both allow you to contribute additional funds to form an investment vehicle.
When you pay your insurance premium, part of it is used for protection and part for investment purposes.
The funds invested can grow tax-free, providing a tax advantage, and the value of the insurance policy increases over time.
It should be noted that permanent life insurance is a complex product, and the details vary from policy to policy.
That’s why it’s important to talk to a qualified life and health insurer to fully understand the product before you buy.

CRITICAL ILLNESS RELIEF

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FINANCIAL RELIEF IN THE EVENT OF BAD HEALTH NEWS
Following sad news about your state of health, this allows you to receive an amount of money to alleviate the difficulties and consequences of your situation.
This won’t cure you of your illness, but the amount of insurance you receive may help you get through this difficult period.
Liquidity may offer better care, certainly, or a better environment in which to take care of yourself.

DISABILITY INSURANCE

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PROTECT ASSETS AND MEET FINANCIAL OBLIGATIONS
The biggest risk in life is yourself.
You never know if one day something will hit you, and for how long.
When a disability occurs, there’s no way of knowing how long it will last.
So, not being able to plan for the duration, it becomes extremely risky for an individual with no protection to support himself.
Imagine you’re disabled for 7 years, and you have a financial burden of $5,000 a month to keep you housed, fed, mobile and so on.
Simple mathematics shows that you must have a NET amount of $420,000 ($5,000 x 12 months x 7 years) available over 7 years.
Finally, this protection allows you to worry less about your finances and take the time you need to recover and come back strong.

Frequently asked questions

Permanent versus term life insurance

Permanent life insurance provides coverage for life, while term life insurance covers only a specified period, generally from 5 to 30 years.
The former accumulates a cash value and offers stable premiums, while the latter has no cash value and its premiums increase with age.

The difference between group insurance and private life and disability insurance

Group insurance is provided by the employer and covers a group of employees, while private life and disability insurance is taken out individually.
Group insurance may offer tax advantages and reduced rates, but it can become invalid on leaving employment.

Deductibility of insurance premiums

In general, life insurance premiums are not tax-deductible, except in certain special circumstances, such as for businesses.

Using life insurance as collateral for an investment

Yes, it is possible to use a life insurance policy as collateral security for a loan or investment.
However, this depends on the insurer’s specific policies and the terms of the loan or investment.
It is advisable to consult a financial professional to assess this possibility.

Permanent versus term life insurance

Permanent life insurance provides coverage for life, while term life insurance covers only a specified period, generally from 5 to 30 years.
The former accumulates a cash value and offers stable premiums, while the latter has no cash value and its premiums increase with age.

The difference between group insurance and private life and disability insurance

Group insurance is provided by the employer and covers a group of employees, while private life and disability insurance is taken out individually.
Group insurance may offer tax advantages and reduced rates, but it can become invalid on leaving employment.

Deductibility of insurance premiums

In general, life insurance premiums are not tax-deductible, except in certain special circumstances, such as for businesses.

Using life insurance as collateral for an investment

Yes, it is possible to use a life insurance policy as collateral security for a loan or investment.
However, this depends on the insurer’s specific policies and the terms of the loan or investment.
It is advisable to consult a financial professional to assess this possibility.

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