Owners of Corporations

Your ability to work is essential to your business. If a major disability or critical illness keeps you from doing your job, a properly structured Disability or Critical Illness insurance plan can continue to cover your income needs while your business pays for replacement staffing.

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We ensure you have the proper Disability and Critical Insurance plans and wherever possible select plans where most if not all the premiums are returned to you if a claim was not made.

Taking on debt to build a business is essential, and lending institutions want to ensure that their investment is protected by requiring key shareholders are insured so their debt is repaid on their death.  

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For these needs we use corporate owned term life insurance instead of the bank insurance coverage so the company can secure their loan obligations while maintaining the independence to reassign part or all of the coverage when needs change.

A shareholders agreement is key for business partners, and a buy sell agreement which addresses the death or disability of a shareholder is a fundamental component of that agreement. 

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At Income First Financial we review your buy sell agreement and ensure you have the proper coverage in place that not only addresses today's needs, but the future of your business as well.

A great employee can be hard to attract, and once you have one the loss of them can be financially devastating to your business.

 

Individual Pension Plans, Retirement Compensation Agreements and properly structured insurance plans can not only be essential in attracting key employees, but they often also provide the security and piece of mind required to keep them. 

Many times after the sale or wind up of the business cash remains in a holdco or Family Trust.

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We use our proprietary income planning software in partnership with your accountants to take advantage of corporate insurance tax shelters and CDA account creation for tax efficient income and asset transfer.