Business Protection

Key Person Insurance

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Protects your business if a key employee, founder, or owner becomes ill, disabled, or passes away.

Why it matters:

• Losing a key person can mean lost revenue, lost clients, and difficulty attracting investors.

• This coverage provides funds to replace expertise, stabilize finances, and reassure stakeholders.

Did you know?
📊 In Canada, many small businesses close within a year of losing a key owner or manager because they didn’t have protection in place.

Cross-Purchase (Criss-Cross) Insurance

Protects business partners by funding the purchase of each other’s shares if one partner passes away.

Why it matters:

• Without a plan, surviving partners may not have the money to buy out the deceased partner’s shares.

• The deceased partner’s family could end up with ownership stakes but no business experience.

Example:
Two partners each own 50% of a business. If one dies, insurance pays the other partner tax-free funds to buy the deceased partner’s shares — ensuring business continuity and financial security for the family.

Business Continuity Planning

Helps your business keep running when the unexpected happens.

• Covers costs of maintaining operations.

• Provides confidence to lenders, suppliers, and clients that the business will continue.

Did you know?
🔍 Many lenders in Ontario require proof of a continuity plan before approving major financing.

Buy-Sell Agreements

Ensures smooth ownership transitions and that the right people are financially secure.

• Establishes how ownership is transferred if a partner dies, becomes disabled, or exits.

• Provides liquidity to fund buyouts, avoiding forced sales of business assets.

Did you know?
💡 Without a Buy-Sell Agreement, family members may inherit shares but be forced to sell quickly — often at a fraction of their true value.