Vancouver Life Insurance for Small Business Owners

 In critical illness insurance, disability insurance, life insurance

Small Business owners in Vancouver have many challenges to deal with including issues such as high rent, high property taxes, theft, and vandalism.  If you add to the list a responsibility of raising a young family then the burden seems almost unmanageable.

Vancouver Life Insurance for Small Business Owners

The impact of a death, critical illness, or disability of the business owner to the family or a business partner can be one of financial hardship.  For a surviving business partner, the monthly expenses of rent for the business, employee salaries, and other business overhead expenses are still due.  The administrative responsibilities also compound now that there is one less person to handle them.  For a surviving family, the mortgage payments or rent will still be due every month.  Food, education, and transportation costs will still need to be covered but now there is one less income to help support them.

Insurance Packages That Can Give A Peace Of Mind For A Business

For peace of mind, a complete insurance package can help alleviate this financial hardship should the unimaginable happen.

Life Insurance – A business life insurance policy can help cover the business expenses or help with hiring a new employee to cover the loss of productivity.  A personal life insurance policy can do the same with expenses for the family.

Critical Illness Insurance – A business critical illness policy can help cover the expense of hiring a temporary employee to help keep the business operational should the business owner be out of the business due to a covered illness for a period of time.  A personal critical illness policy can help the family cover the additional expenses incurred while the business owner is recovering from a condition.  For example, the spouse may need to take time off work, medication that is not covered, hospital parking etc.

Disability Insurance – A business disability insurance policy pays the equivalent of the income paid to the business owner should the business owner become disabled.  The income can then become a salary to hire a replacement employee either temporarily or permanently.  A personal disability insurance policy replaces the income previously generated by the business owner so that there is minimal loss of income to the family on an ongoing basis.

Contact Us – Vancouver Life Insurance Advisors

As you can see, there are many considerations when you are a small business owner.  Consult one of our experienced Advisors to go through the best plans available to you.

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