Critical illness insurance for business owners

Your business is key to supporting your lifestyle today and accumulating wealth for your future.

Could a serious illness get in the way of your business plans?

Advances in medicine mean more people survive illnesses like cancer, heart attack and stroke than ever before, but recovery may come with a significant financial cost that can throw your business off course.

Critical illness insurance can provide you with a lump sum payment to help you recover on your own terms while your business continues to operate.

How can it help your business?

Focus on your business and your recovery

By having critical illness insurance, you don’t have the added stress of weighing what’s best for your business versus what’s best for your recovery.
Critical illness insurance can be used to help support the costs of your recovery so you can maintain your commitment to your business and your future.

You can use the money to:

  • Supplement your income due to time away from work while you recover
  • Cover debt repayment obligations, salary for key employees or other fixed operating expenses
  • Cover the cost of medications, medical devices and treatment not covered by provincial health plans and other benefit plans
  • Access private or out-of-country medical treatment
  • Bring in additional help at home for you and your family
  • Cover travel costs to get to treatment facilities (gas, hotel, meals, parking)

Retirement protection

Your business is thriving and you’re on your way to meeting your retirement goals.

But the onset of a life-altering illness may force you to withdraw money from your corporate investments, which incurs tax and could impact your retirement plans.

Creating a safety net with critical illness insurance can help your business continue operating, without disrupting your retirement plans.

Talk to an expert

Not feeling confident in your finances? You can talk to one of our financial security advisors who will work with you to craft a financial plan tailored to your needs.

Contact an advisor