The future is full of pitfalls, but you can reduce the probability of being affected. Read about 6 forms of insurance that are particularly relevant in the context of your business.

1.     Life insurance to finance your shareholder agreement

Your agreement is a fundamental document that outlines the steps to follow in the case of redemption of units between owners. But this document does not provide protection if one owner dies or becomes unable to work.

Life insurance exists to safeguard the agreement and to allow for the redemption of units. Working capital can also be redeemed to compensate for the loss of the other owner’s contribution.

2.     Disability insurance that will support you

If you yourself become disabled and unable to work, there are a number of group insurance regimes that offer long-term disability guarantees. However, the annuity is generally low. Compare this amount with your normal salary. If the gap between the two is too great, you can opt for a complementary disability insurance to maintain your quality of life.

3.     Insured commercial loans

In case of death, be sure to take precautions to ensure that your commercial loans or the credit you contracted in the performance of the duties of the corporation are reimbursed. If not, you would place your associates in a difficult situation.

4.     Protection against the loss of key personnel

An essential collaborator often makes all the difference. Should you lose this personnel because of death or serious illness, you could feel the impact of their lost productivity. To help you better adapt to your changing environment, insurance is there to help.

5.     Social benefits for your employees

In addition to protecting you, insurance can allow you to offer coverage for those who work for your success! Life insurance, disability insurance, critical illness insurance, health insurance, dental insurance… Be sure that these protections are always welcome. For your business, it’s an incentive that will drive employees to your company and will allow for better retention!

6.     A protected patrimony

When your property is transferred to your successors, some of them may be subject to capital gains tax. You wouldn’t want your patrimony to become a hefty bill!

Your life insurance could help them obtain the amount necessary to pay the outstanding taxes. This would ensure that a portion of your patrimony will fall into the hands of your inheritors.

So that you can obtain these insurance products or for more information, don’t hesitate to call your advisor!