Skip to main content

How Canada Life is supporting you during COVID-19. Learn more

The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Learn more

The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company have become one company – The Canada Life Assurance Company. Learn more

Your web browser is out-of-date. For the best experience, please update to a modern browser like Chrome, Edge, Safari or Mozilla Firefox.

Freedom 55 Financial is a division of The Canada Life Assurance Company and the information you requested can be found here.

So, you want to protect your business today while making sure you plan for retirement and maybe even leave a legacy.

But what happens if your plans get interrupted and you can’t continue running your business because of a health issue?

Running a successful business means dealing with tough issues – and preparing for the unexpected is one of them. Insurance is one way to help make the most of what you leave behind. You can use key person insurance in a number of ways.

Help protect your business with insurance

Here are some options you can consider as part of your financial plan. The right insurance coverage can help you:

  • Protect your business, if you, or a key employee is suddenly unable to work
  • Pay off business loans
  • Provide you or your business partner with money to buy the other person’s share of the business, if one of you is leaving
  • Cover expenses for you or your family if one of you is leaving

Ensure you have a smooth exit strategy

You may want to retire and pass on your business. That’s why it’s important to have a plan in place to help with a smooth transition. Have you thought about your options?

Leave a legacy for those you care about

It’s important to think about what will happen to your money and your family in the future:

  • Do you have a plan in place to help take care of loved ones?
  • Are you growing your wealth in a tax-efficient way?
  • What about your estate? Will it be easy to split it fairly between family members?

Plan to see the whole picture

You’ve worked hard to grow your business and make it a success, that’s why protecting it is important.