Having your own business and being your own boss is the dream of many people. In fact, a record number of Canadians started their own business in the past two years 1.
Being self-employed comes with many perks, however having access to group insurance, sick days and other health benefits is not often one of them. With so many things to consider when starting your own business, having a solid life insurance plan in place may not be at the top of your list…but it should be.
Life is good…your business is up and running and the future is looking bright. And then you get sick and suddenly you’ve not only lost your ability to run your business, but your income could drop to zero and unexpected costs may start piling up. Plus, as an entrepreneur, you are likely to be the primary source of your business’s value so profits could suffer if you were unable to run the business, even temporarily. This is where a strong life insurance protection plan can help.
Starting with universal life protection, you can build a plan that will protect your family and your business when the unexpected happens.
Your financial advisor can help you put together a layered protection plan that will take care of your family, and your business, for the times when you aren’t able.
*: For further details on what qualifies as a disability, refer to the policy contract.