Disability insurance

Disability insurance

When you are in business, it is of the utmost importance to consult your financial security advisor to secure adequate protection! There are several types of disability insurance for businesses, depending on their status, the number of their shareholders and their type of activities:

  • Overhead: It is generally aimed at single-owner small businesses. It is used to pay current expenses during the period of disability in order to prevent closure.
  • Buyout: It is used for a company’s multiple (at least two) partners or shareholders. If one of the partners or shareholders becomes disabled for a long period of time, at some point you will wish to buy him or her out. By a shareholder agreement through your notary or attorney, we can insure the value of the shares which will enable this buyout.
  • Key person: It is used for one or more employees deemed essential to the company’s regular operations. Should this employee become suddenly disabled, this insurance will cover up to a maximum of twice his or her salary, which will allow you to find a replacement quickly and to prevent losses.

Please contact us to know whether such coverage would be useful to your company or for a second opinion about your current coverage!