Tough and rewarding, very busy. A lot of things happen at once and all while trying to keep your expenses from growing faster than your income. This unique period in the future of your business requires a delicate balance of priorities.

Bank loans often require a form of insurance to protect the lender from the unforeseen. Bank insurance, while better than nothing, can fall short of filling your needs and protecting your interests. Finding the most affordable, guaranteed solution is key. We pull quotes from every insurer in Canada and assess which suit your needs best. Having coverage is helpful but getting the best coverage for the lowest price is essential.

Right now, your business is growing. If you tallied up your most valuable economic business asset is most likely you and your ability to earn an income. What would happen if tomorrow, you couldn't work? Could your business continue without you? Do you have enough money set aside to support yourself indefinitely? That potential is key to your future goals, aspirations and success. Large amounts are spent protecting our homes from fire, our cars from accidents and our businesses from liability. Commonly overlooked is our ability to earn an income - and that income is easier to protect than most people think. Protection from the financial hardships associated with disability, illness, even death can easily be planned for so that you have one less stress to worry about. Plus, this protection will not be any more affordable than it is for you today. As you age and as health issues arise in your future, your ability to become insured becomes increasingly more difficult and more expensive.

Shareholders agreements are legally drafted documents that ensure a death or disability does not create major problems, jeopardize a lifetime of hard work and investment, or leave partners and beneficiaries in a precarious position. Unplanned or uncontrolled transitions leave shareholders with tough questions to answer: 

• How will the business continue? 
• Who will control the business? 
• Can or will family members of the deceased or disabled owner become involved in the business? 
• How will the surviving shareholders finance the buyout of the shareholder who has died or who has become disabled? 
• How can the shareholders be sure that their families will receive fair value of the shares in a timely manner? 

Shareholder agreements ensure that the company stays viable and that everyone is fairly compensated should something tragic happen. On their own, these agreements can still be ineffective - if left unfunded. Without the ability to fund the agreement, partners cannot afford to buy out their partners survivors and can be forced to withdraw precious business equity or borrow money from the bank paying interest in the loans. Funding with insurance provides a cost-effective method to provide tax-free cash instantly - at the moment it is needed.

In all of this, limiting the risk to your family becomes key. Using tools like funded shareholders agreements, life, disability and illness insurance and health and dental medical plans are a cost effective method to protect those you care about.