It's About Time - It's About You™
 

Many business owners have built and managed their businesses for years and yet there is no plan in place for their company to provide them with additional life and health insurance coverages beyond their basic company benefits plan, in order to benefit them and their family.

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We routinely hear of individuals working in the public and private sectors that get generous retirement and severance packages. For example, many teachers have over $1 million in their publicly funded retirement plan.

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As business owners, we don't receive such a package unless we create one for ourselves. 

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The big advantage as business owners is that we can use our life and health insurance coverages to create a package that will enable us to transfer money out of our companies "tax-free" to enjoy during our retirement years.

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We can help you to customize life and health insurance coverages to reward yourself and to benefit your family. Details of life and health insurance coverages offering business owners with significant tax advantages are as follows:

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Permanent "Tax-Free" Life Insurance Coverage

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• Life insurance is a powerful financial tool for business owners to provide for their family if tragedy strikes and they are no longer there to run their business enterprise in order to provide financially for their family.

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• Life insurance makes business loans, lines of credit, vehicle and equipment leases, and mortgages disappear. Life insurance eliminates estate taxes and provides the business owners surviving family with the ability to realize the full financial value of the business so that they can have lifetime financial security. 

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• What does the business owner get in return? Peace of mind and the pride of ownership in knowing that every day they live they own life insurance coverage to provide financially for the future of their family if they unexpectedly pass before reaching old age.

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• We believe that every business owner deserves to have at least $1,000,000 of life insurance coverage provided to them by their company (coverage can be selected up to $20,000,000).

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• When we set up life insurance coverage for business owners, we show them how to obtain life insurance coverage that never expires and that has a guaranteed fixed rate payable for a guaranteed fixed period such as 20 years.​​​

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• As an example, if you were to select a life insurance coverage amount such as $2,000,000, you could have a fixed guaranteed rate payable for a maximum of 20 years. If you were to pass prior to 20 years the $2,000,000 life insurance coverage would be paid out "tax free" to your beneficiary and no further payments would be required.

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• After 20 years there are no further payments while the $2,000,000 "tax-free" life insurance coverage would continue for the rest of your life.

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• If you reach age 100, and are still living, the $2,000,000 life insurance coverage would be paid out to you at that time. Ultimately, there is a guaranteed payout of the $2,000,000 life insurance benefit. 

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• If you decide for some reason that after 20 years (when no further payments are required) you no longer want your life insurance coverage, then you can discontinue the coverage and receive back 100% of the amount of premiums paid.

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"Tax-Free" Critical Illness Insurance Coverage with 100% Guaranteed Return of Premiums

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• Critical Illness insurance coverage pays a "tax-free" lump sum benefit, such as $1,000,000, in the event you have a covered condition (as clearly defined in the policy document) such as cancer, heart attack, stroke or numerous other serious health conditions including if you were to be disabled and unable to do 2 or more functions of daily living.

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• We will show you how you can establish your coverage so that if you do not have a claim you will receive a 100% return of your premiums at a set point in time. In other words, if for example you have $500,000 of critical illness coverage, you will either have a covered critical illness and collect $500,000 or you will not have a critical illness and will receive a 100% return of your premiums.​

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• We will show you how your company can pay for your critical illness insurance coverage and then have the 100% return of premium amount paid out directly to you, resulting in a tax-free transfer of funds from your business to yourself (we will provide the details to your accounting advisor so that they can confirm this tax advantage available to you).​​

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You Deserve to be Rewarded

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You have taken the risks and made the sacrifices to build and manage your business. You deserve to have your business reward you and benefit your family by providing you with a package of life and health insurance coverages that can be used to transfer money out of your company "tax-free".​​

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To find out more about what is possible for you, just text or call our President & Lead Advisor, George Goulet on his cell at (403) 540-4644, or you can reach him by email at georgeg@accessbenefits.ca, and we would be pleased to help you.

 

We suggest that the best time to reach out is now, while it is top of mind, so that the opportunity for you to get this all taken care of does not pass. We are here to help. All you have to do is reach out.