Key Person Insurance

Key person insurance office workers

Protect yourself, your key employees and your company.

What would happen to your company if a key employee were to suddenly pass away?

Key person insurance will ensure your company survives by providing it with a tax-free payout if a key employee suddenly passes away.

How does it work?

  • You can pick a specific amount of insurance that covers the financial impact of losing a key employee.
  • Your company pays for the premiums.
  • The life insurance is paid tax-free to your corporation if a key employee passes away.
  • Your company receives a credit to its capital dividend account, allowing for tax-free dividends to be paid out of your company.
  • You can pay monthly or annually.
  • Depending on your age and health, you may be able to get instant approval without providing medicals.
Key person insurance employees