Disability and/or critical illness insurance
Business needs
DISABILITY AND/OR CRITICAL ILLNESS INSURANCE
What will happen to your business if you are disabled for more than six months or diagnosed with a serious illness? Does your shareholder agreement make provision for a buy out of your shares? Will your partners continue to pay you your salary, bonus and expected dividend? These are questions worth considering. Many solutions exist that will safeguard your financial security and that of your organization.
Disability insurance will allow the buy out the shares for a shareholder or business partner, for example. It’s a product that offers flexibility and choice for the purchase of the shares or interest held by a business owner who becomes disabled.
It is also possible that a self-employed worker or owner of a small company will not want to close the business, preferring instead to take a short or medium-term leave. The cost of keeping the business in operation will continue to put financial pressure on the disabled individual.
Coverage is available that offers exceptional benefits and features to professionals who are self-employed. It notably makes provisions for benefits to be paid to cover the cost of managing the business (salaries, rent and utilities), thus helping the owner avoid having to close the business due to a serious illness or injury.
Regardless of your situation or the complexity or size of your business, we can help you alleviate the disruption associated with an interruption or slowdown in your business operations.