Key Man and Buy-Sell Shareholder Insurance Calgary

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Commercial Key Man and Buy-Sell Insurance

We highly advise that our clients have Key Man Insurance and Buy-Sell Shareholder Insurance. These two insurance products are vital as they are extremely important to an organization’s overall succession plan.

Key Man Insurance

For many businesses, there is a key person who is most responsible and accountable for the life of the business, either through generating the majority of profits or the person has an impeccable skill set that is core to the organization. Losing the key person would have a significant negative impact on the overall operation and strategic direction of the organization. Therefore, Key Man Insurance is a necessary and valuable option to protect the company in the case of an unfortunate loss.

Buy-Sell Shareholder Insurance

Almost every business plan has a shareholder agreement. A shareholder agreement describes the nature of the relationship between the shareholder and the organization, and the rights and obligations of each party. In the case of a sudden shareholder change due to such reasons as retirement or loss of health, it is very important to have the buy-sell provisions. These provisions help the organization have a smooth, effective and orderly transfer of shares. To further enhance the organization’s overall succession plan, Buy-Sell Insurance provides the funds for buying out the ownership interest of the predecessor shareholder. Generally speaking, life insurance can be the most effective means of funding a Buy-Sell agreement on the death of a shareholder.

If you'd like to know more, then get in contact with our office in Calgary and we'll give you all the information you need to secure the future of your business.


Contact

Questions? Comments? Call us today at 403.299.1290 or fill out the form below:

#300, 334 11th Ave SE
Calgary, Alberta
T2G 0Y2

403.299.1290

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