Do you know the risks?

 Take steps to protect your business (and yourself)

If you or a business partner had a heart attack, stroke or cancer, what would happen to your business? Could it continue to thrive? Or would health problems jeopardize the business, and possibly your income?  

With many small to medium-size businesses, the financial health of the company is closely tied to the physical well being of a few key people—owners, partners, or even a valued employee. As a business owner, you are probably aware of this. You may not be aware, however, of how high the statistical chances really are that one of the key people in your business could contract a critical illness. You owe it to your business and yourself to consider the possibilities—and to prepare for them. 

What are the risks?

·         Statistics show that you are more likely to suffer a critical illness and survive than to die before age 75*

·         The more key people there are in a company, the higher the risk that the firm will be affected by critical illness

·         Companies owned by sole proprietors face a risk of almost 50%. Companies with more than two partners can face a risk of 80% or more.

·         Most business owners have considered what will happen to the company if they (or a partner) die. But a critical illness can be just as destructive to a company as the death of an essential player.

·         A critical illness like cancer, heart attack or stroke could leave your company with added expenses, a compromised work force, and poor economic prospects. 

What can you do about it?

Critical illness insurance provides a lump sum benefit if you, a partner, or a key employee contract and survive one of the covered conditions, including Cancer, Stroke, Multiple Sclerosis and others.** The money can be used to offset business expenses that arise from the illness, and to support the financial health of the company. It can fund a buy-sell agreement, pay for training and hiring a replacement, or in any way you see fit. 

Critical Illness poses a very real risk for small business owners and partners. Let Broker Advantage assist you in analyzing the risks of death, disability and critical illness on your business, and ensure that you have adequate protection in place.                          

* Probability of dying prior to age 75 is based on Statistics Canada Life Tables Canada Provinces and Territories (1995-1997) Figures shown reflect probability for males.

Talk to your Broker Advantage advisor about protecting you and your family from a critical illness. If you don't have an advisor, and would like to talk to a Broker Advantage Inc. advisor about Critical Illness insurance, Click Here or call our Toll-Free Customer Care Centre at 1-877-294-1810 Monday-Friday,
9:00 a.m. - 5:00 p.m. (EST).

To assess the amount of insurance coverage you need to protect you and your family, Click Here.