10 Best USA car insurance Companies in the USA USA car insurance is mandatory if you want to drive legally in the States and here are the top 10 companies that provide you with that. These are the top 10 best USA car insurance companies in the USA. USA car insurance is mandatory not just in the USA but in most countries around the world. USA car insurance is necessary because it offers you a cover or protection in the case of unfortunate incidents which are a part of driving on the roads. If your car gets damaged in a road crash, insurance will cover the damages. For this, you need to pay a premium generally on a yearly basis. But there are insurance companies that are better in terms of services, processing times, claim handling, etc. than others. Best USA car insurance Companies in the USA USA American Family Insurance: American Family Insurance is at the last spot on this list. It has degraded four spots this year. There could be a lot of reasons for that. However, we shall
Sun Life Insurance, Health Insurance & Other Insurance Products Details:
What is life insurance?
Life insurance can protect the financial security of the people you love by giving them a tax-free payment after you die. The amount and type of coverage you choose will depend on your circumstances and needs. The cost of life insurance you buy as an individual depends on your age, gender, health, medical history and lifestyle.
What is term life insurance?
Term life insurance is affordable, easy-to-understand coverage that gives you flexible protection.
Your insurance costs will remain the same for a specific
period of time (the "term"), until it renews for another term. If you
die while the policy is in effect, a tax-free payment will go to the person or
people you name (your "beneficiaries"). And with most term policies,
you can also convert your coverage to permanent insurance regardless of any
changes to your health, occupation or lifestyle.
Types of term life insurance:
Sun Life Go Simplified Term Life Insurance
Life insurance for $50,000, $75,000 or $100,000
Monthly payments are guaranteed to stay the same for the
first 10 years
Answer three simple health questions and apply online in
just minutes
Learn more about Sun Life Go Simplified Term Life Insurance
Sun Life Go Term Life Insurance :
Affordable life insurance from $100,000 to $1 million
Monthly payments are guaranteed to stay the same for the
first term of 10 or 20 years
Answer some health questions about your health to apply
online
Learn more about Sun Life Go Term Life Insurance
Sun Spectrum Term Insurance :
Sun Spectrum Term provides coverage in amounts between
$50,000 and $15 million
Premiums are guaranteed and coverage is available for terms
of 10, 15, 20 or 30 years
Learn more about Sun Spectrum Term Insurance
Sun Term Insurance :
Sun Term provides coverage in amounts between $250,000 to $15
million
Premiums are guaranteed and coverage is available for terms
of 10, 15, 20 or 30 years
Learn more about Sun Term Insurance
What is permanent life insurance?
Permanent life insurance is often called whole life insurance because it covers you for your whole life. It gives your beneficiaries a tax-free payment after you die. Some plans can build cash value over time. Permanent insurance costs are usually guaranteed not to increase from the time you first buy the policy. And some permanent insurance plans let you pay for a limited time and then never again. Universal life and participating life are other forms of permanent life insurance that you may want to consider.
Getting Started
Life insurance calculator
Life insurance 101
FREE sign up
Compare term life insurance products
What is permanent life insurance? (Video)
Find an advisor
Is permanent life insurance right for you?
Permanent life insurance may be a good choice if you are:
Interested in lifetime coverage, and premiums that don't change
Looking for a permanent guarantee that will help protect your family, cover the cost of your funeral and let you make plans for your estate
Support questions
What is underwriting?
Change beneficiaries
Submitting claims
Related resources
Adjustable Contracts (Criteria for Changes) policy
Shedding Light On Insurance
Types of permanent life insurance:
Sun Life Go Guaranteed Life Insurance
Life insurance that lasts your lifetime
You’re guaranteed to qualify for $5,000 to $25,000 of life insurance
No questions asked about your health; apply online in just minutes
Learn more about Sun Life Go Guaranteed Life Insurance
Sun Life Go Guaranteed Life Insurance
Sun Spectrum Permanent Life II
Sun Spectrum Permanent Life II provides straightforward lifelong insurance
This product is particularly well suited to people who want guaranteed protection for life but are not interested in actively managing their coverage
Learn more about Sun Spectrum Permanent Life II
Sun Permanent Life Insurance
Straightforward, guaranteed lifetime protection from $250,000 to $10,000,000
Lifetime insurance coverage with the opportunity to have an increasing death benefit
Learn more about Sun Permanent Life Insurance
What is participating life insurance?
Participating life insurance provides a combination of permanent life insurance (whole life insurance) protection and an opportunity for tax-preferred cash value growth. The base insurance protection is guaranteed for life, as long as you pay the premiums on time.
The policy is also eligible to receive dividend payments, which you can use to buy additional coverage or reduce your annual premium. You can also leave them on deposit to earn interest or take them in cash. Dividends are not guaranteed.
Getting Started
Life insurance calculator
Life insurance 101
What is permanent life insurance? (Video)
5 financial products you should own
Find an advisor
Is participating life insurance right for you?
Participating life insurance is an excellent solution if you are:
Looking for lifetime protection and significant savings potential
Interested in innovative ways to save for retirement or to more effectively make plans for your estate
Concerned about the effect of inflation on your death benefit
Support questions
What is underwriting?
Change beneficiaries
Submitting claims
Related resources
Answers about participating (par) life insurance
Dividend policy
Dividend scale history
Changes to 2021 Clarica dividends
Participating Account Management policy
Shedding Light On Insurance
Types of participating life insurance:
Sun Par Protector II
Sun Par Protector II provides permanent life insurance protection combined with long-term cash value and death benefit growth.
Learn more about Sun Par Protector II
Find an advisor
Sun Par Accumulator II :
Sun Par Accumulator II provides permanent life insurance protection, with a focus on higher cash values over the short term, while still providing long-term cash value and death benefit growth.
Learn more about Sun Par Accumulator II
Find an advisor
Sun Par Accelerator :
Sun Par Accelerator provides permanent life insurance protection that's guaranteed to be fully paid-up in eight years, while providing high cash values over the short term, as well as long-term cash value and death benefit growth.
Learn more about Sun Par Accelerator
Find an advisor
What is universal life insurance?
Universal life insurance is an all-in-one way to get the protection you need and build your savings. The policy combines permanent life insurance protection for lifelong peace of mind with a broad range of investment account options for tax-preferred savings growth. You choose a guaranteed death benefit for your beneficiaries and the payments you make above the cost of insurance can grow in a tax-preferred savings account. Or you can use them to increase the amount of your death benefit.
Getting Started
Life insurance calculator
Life insurance 101
How to make your financial plan work for you
How to use insurance to protect and build wealth
Find an advisor
Is universal life insurance right for you?
You may be interested in universal life insurance if you are:
Looking for ways to build your savings alongside your RRSPs and TFSA
Looking for a way to leave more money for your children and grandchildren
A business owner looking for a tax-efficient way to protect the value of your business
Support questions
What is underwriting?
Change beneficiaries
Submitting claims
Related resources
Adjustable Contracts (Criteria for Changes) policy
Shedding Light On Insurance
Types of universal life insurance:
Sun Spectrum Universal Life II :
Sun Spectrum Universal Life II provides straightforward and flexible permanent life insurance protection to help meet your long-term needs, plus the opportunity for tax-preferred growth in savings.
A reduced paid-up feature allows you to stop making payments any time after age 70.
A guaranteed investment bonus rewards you for maintaining and growing your policy's fund value.
Single and joint policies are available.
The policy fund offers a wide variety of diversified investment account options.
Learn more about Sun Spectrum Universal Life II
Find an advisor
Sun Universal Life II :
Sun Universal Life II provides our most extensive combination of insurance features and investment account options for maximum flexibility.
You have a choice of five death-benefit options and six cost-of-insurance options to meet your current and future protection needs.
Single and joint life policies are available.
The policy fund offers a wide variety of diversified investment account options.
Sun Universal Life Pro :
Sun Universal Life Pro provides permanent insurance coverage to help you meet your business, personal and estate planning goals.
You have a choice of three death-benefit options and three cost-of-insurance options to meet your current and future protection needs.
Single and joint life policies are available.
The policy fund offers a choice of three investment account options, including the Sun Life Diversified Account Pro with a minimum interest rate guarantee.
Learn more about Sun Universal Life Pro
Sun life Health insurance details:
Most Canadians who suffer a serious health event, experience
a financial impact as a result.1 Have you considered how changes in your health
can impact your financial plans and choices available?
Don’t let financial worries complicate a difficult situation
or limit your options. Get the coverage you need.
Details about Health Insurance
Critical illness insurance calculator
Comparing health insurance solutions
Do you know about health insurance?
What is health insurance?
Health insurance is personal insurance coverage that
protects your savings from the many healthcare costs not covered by government
plans. There are 4 different types of
health insurance products that provide the protection you need at each stage in
life. An advisor can help you understand how these products fit into your
financial plan.
Types of health insurance:
What is personal health insurance?
Personal health insurance products help lower your risk of
being burdened by expenses for preventive care or medical bills as a result of
an illness or accident. While provincial health plans provide coverage for many
health expenses, there are gaps that can have a significant impact on your
finances. For example, depending on the
province or territory where you live, you may have to pay for:
Prescription drugs to treat a chronic or serious health
condition
Emergency medical services provided in another country
Practitioners like physiotherapists to promote wellness or
help with injury recovery
Medical equipment to assist with your mobility
Sun Life offers 2 personal health insurance products:
Personal Health Insurance and Health Coverage Choice.
You may want to consider personal health insurance if:
You’re losing your group coverage
You’d like additional benefits not offered by your employer’s
plan or your province's health coverage. You must have provincial health
coverage to apply for personal health insurance.
Learn more about eligibility requirements for this product.
Comparing health insurance solutions
Support questions
Eligibility information
Paying premiums
Submitting claims
Emergency travel medical information
Related products
Health Coverage Choice
Critical illness insurance
Long term care insurance
Disability insurance
Which product is right for you?
Personal Health Insurance
If you want higher coverage levels and are willing to be
medically underwritten – where we review your health in greater depth through
tools such as a detailed health questionnaire – then you should consider
Personal Health Insurance. See plan details below.
Personal Health Insurance
Health Coverage Choice
If you’ve lost your group benefits coverage in the last 60
days – or will be losing your group benefits – because you are leaving your job
or retiring, and you want coverage for your current health needs, you should
consider Health Coverage Choice. There is no medical underwriting with this
product.
Learn more about Health Coverage Choice
We offer 3 Personal Health Insurance plans:
Personal Health Insurance is for you if you don’t have
adequate employer group benefits coverage. You can choose among plans with
differing levels of coverage. Each person included on a Personal Health
Insurance application must have provincial health coverage and will be
medically underwritten.
Standard plan
Enhanced plan
Coverage overview
Our most popular plan includes catastrophic drug, emergency
travel medical and optional preventive dental coverage.
Our most comprehensive coverage, with a higher prescription
drug maximum and optional dental coverage that includes restorative and
orthodontic services.
Prescription drugs
60% reimbursement of annual eligible expenses to an annual
maximum of $750.
70% reimbursement for first $7,000 and 100% for the next
$93,000 of annual eligible expenses.
80% for first $5,000 and 100% of next $245,000 of annual
eligible expenses.
Dental coverage Details:
Waiting periods apply
Included:
60% reimbursement for preventive dental care with a $500
annual maximum.
(3-month waiting period applies)
Optional:
70% reimbursement for preventive dental care with a $750
annual maximum.
(3-month waiting period applies)
Optional:
80% reimbursement for preventive dental care with a $750
annual maximum.
(3-month waiting period applies)
50% reimbursement for major restorative dental care with a
$500 annual maximum.
(1‑year waiting period applies)
60% reimbursement for orthodontic services
Up to lifetime maximum of $1,500
(2-year waiting period applies)
Health care Details :
Supplemental health care, medical equipment and nursing
60% reimbursement for supplemental healthcare.
100% reimbursement for supplemental healthcare.
100% reimbursement for supplemental healthcare.
Paramedical expenses
For massage therapists, chiropractors, naturopaths etc
60% reimbursement with a $25 per-visit maximum on
paramedical practitioner services up to $250 per year per practitioner.
100% reimbursement for paramedical practitioner services up
to $300 per year, per practitioner.
100% reimbursement for paramedical practitioner services up
to $400 per year, per practitioner.
Vision care
Waiting periods apply
No coverage:
100% reimbursement for vision care up to a $150 maximum
every 2 years.
(1-year waiting period applies)
100% reimbursement for vision care up to $200 maximum every
2 years.
(1-year waiting period applies)
Semi-private hospital room
Optional :
85% reimbursement
Coverage up to $200 daily and $5,000 annually.
Optional
85% reimbursement
Coverage up to $200 daily and $5,000 annually.
Optional :
85% reimbursement
Coverage up to $200 daily and $5,000 annually.
Emergency travel medical
No coverage.
For the first 60 days of a trip with a $1 million lifetime maximum on emergency travel medical claims.
For the first 60 days of a trip with a $1 million lifetime
maximum on emergency travel medical claims.
# 02: Critical illness insurance details :
Critical illness insurance
What is critical illness insurance? :
Medical advances have dramatically improved the survival
rates of people who suffer critical illnesses such as cancer, stroke and heart
disease. Recovery may come with a
significant financial cost that impacts both you and the people close to you.
Critical illness insurance can help you:
Reduce debt and other financial concerns while you cope with
your illness
Replace any reduced or lost income for you and your spouse,
who may wish to take time off work to care for you
Bring in additional help at home for you and your family
Consider new medical treatments and medications not covered
by private or government health insurance plans
Tools & Resources
What would happen if you couldn't work?
Related products :
Personal health insurance
Long term care insurance
Disability insurance
We have 2 plans to meet your needs:
Sun Critical Illness Insurance
Gives you the advantage of comprehensive critical illness
coverage that includes a broad range of covered illnesses
Adult plans are available in amounts of $25,000 to
$2,500,000
Child plans are available in amounts of $25,000 to $1,000,000
Available options include return of premium benefits and the
ability to convert the policy to long term care insurance
Learn more about Sun Critical Illness Insurance
Express Critical Illness Insurance
3 available plans offer coverage for 1 to 7 common
life-threatening illnesses or conditions
Adult plans are available in amounts of $25,000 or $50,000
Online approval is instant with no medical or blood work
required
Learn more about Express Critical Illness Insurance
# 03: Long term care insurance details :
Long term care insurance
What is long term care insurance?
It's easy to take our ability to perform day-to-day
activities for granted. But this can change, especially as we age. This is why
it’s so important to consider your future healthcare needs as you build and
review your retirement savings and income plans.
You may want to consider this coverage if:
You’re concerned your retirement income might not last for
your lifetime if your health deteriorates and government programs are
insufficient to meet your needs
You want the financial resources to help you choose the type
and level of care that’s right for you if you have an accident or need
substantial care later in life as you age
You want to protect your wealth and legacy from being eroded
by the cost of care
Long term care insurance can help you:
Bring care into your home so that you do not need to
downsize or move to a facility right away
Lessen the burden on care-givers and support your family
financially if you are going to live with them if you need care
Manage your care and expenses if you have an unexpected
severe accident, at any age that results in your needing substantial assistance
from a family member or care-giver
Tools & Resources Links Below for more info :
Policy change notice
Important Information for Clarica and Sun Long Term Care
Insurance policy owners
Related products
Personal health insurance
Critical illness insurance
Disability insurance
2 types of long term care insurance to meet your needs:
Sun Long Term Care Insurance
Protects against significant healthcare costs in retirement
with the added security of protection against the impacts of severe illness or
accident that can happen at any time
This plan offers a weekly benefit of $150 to $2,300
Shorter waiting periods of 90 or 180 days make it possible
to begin receiving benefits sooner
Provides a first-payment bonus to help with costs incurred
during the waiting period
Learn more about Sun Long Term Care Insurance
Sun Retirement Health Assist :
Protects against the healthcare costs specifically
associated with the realities of aging in the later stages of retirement
This plan offers a weekly benefit of $500 to $2,300
Longer waiting periods of 1 or 2 years for a lower-cost
alternative
Learn more about Sun Retirement Health Assist
How will your needs change in retirement?
You will likely require care in retirement, to some degree,
as you age and your health changes. The level of healthcare and personal
assistance you need – and the cost to meet those needs – typically increase
over time and go through 5 stages. Understanding these stages and how they change
over time can help you plan for the future.
#04: Disability insurance details :
Disability insurance
What is disability insurance?
Disability insurance is designed to replace a portion of
your income if you become disabled and are unable to earn an income. A
disability can result from a number of causes, including an injury, a serious
illness or a mental health issue. And
the duration of a disability can be either short- or long-term.
There are different kinds of disability insurance coverage,
including individual insurance plans and group insurance plans, as well as
government plans such as workers’ compensation and benefits provided under the
Canada Pension Plan.
For more information, the Canadian Life and Health Insurance
Association has developed an excellent guide to disability insurance that’s
available on clhia.ca.
Tools & Resources
Related products
Get disability insurance
Step 1
Find an advisor
Because of the different kinds and sources of disability
insurance, it’s important to talk to an insurance professional who can advise
you on the coverage options that best meet your circumstances. Talk to your
advisor or find an advisor to help answer your questions. There is no cost to
talk to an advisor.
Step 2
Meet with your advisor
To get the most out of the meeting with your advisor, take
some time beforehand to think carefully about what you want to achieve. And
because your advisor will need additional information to help recommend the
policy that’s right for you, get together some basic information about your
income, assets and liabilities.
Step 3
Apply for coverage
Your advisor will handle the paperwork for you. You’ll need
to submit an application for a policy that will be evaluated by the insurance
company. You may also be asked to undergo a physical exam or provide other
medical or financial information.
Sun Life Other Insurance Products :
What is mortgage protection insurance?
Thinking of buying a new home? Your mortgage lender may offer the option of buying mortgage insurance (also known as creditor insurance). But do you really need it? Or do you need mortgage protection insurance instead?
They sound similar, but they’re not the same.
Mortgage protection insurance is a life insurance policy that offers your family or beneficiaries a certain amount of money if you were to die. In such a case, with an active life insurance policy, your beneficiaries would receive a tax-free amount of money, called the death benefit. (The exact amount they’ll get depends on how much coverage you have.)
With a life insurance policy, you get to:
keep your coverage even as you pay off your mortgage,
keep your coverage even if you move, and
select a beneficiary to inherit the death benefit.
With life insurance, you’re leaving your beneficiaries with the flexibility to use the death benefit in any way, for any reason. For example, they can use that money to cover:
mortgage payments,
debts,
the cost of childcare, or
the cost of other living expenses.
When buying insurance, remember to make sure that you have enough coverage to meet your family's financial needs, whether it's making mortgage payments, paying off debts or anything else.
Mortgage insurance through a bank or lender, however, works differently.
It can only be used to pay off some or all of the remaining amount owed on your mortgage in the event of your death. But the money won’t go to any beneficiary. Instead, it goes directly to your bank or mortgage lender.
Mortgage insurance pays all or part of your mortgage debt, but it doesn’t leave any money for your family. And, your family’s financial needs may go beyond just a mortgage. They may have other expenses to cover as well. That’s why you may want to consider mortgage protection insurance instead.
What type of mortgage protection insurance do you need?
Mortgage protection insurance is a life insurance policy. So what type of life insurance can protect your mortgage and your family’s future? The most affordable option is term life insurance.
How long are you covered? With term life insurance, you’re covered for a set period, such as 10, 15, 20 or 30 years.
Is it low cost? The premium – that’s the monthly or annual fee you pay for insurance – is usually low for the first term.
What happens if you die during your term? Then your family or beneficiaries would receive a tax-free death benefit. They can then use the money from this benefit for any purpose. This means your family will have funds to cover expenses that they relied on you to pay, including making mortgage payments.
Learn more about term life insurance
The difference between mortgage protection with term life insurance and mortgage insurance
Most mortgage lenders will give you the option to apply for mortgage insurance directly through them. But before you finalize your mortgage, think about how different their policies are from ours.
Family insurance :
Protect your family and your finances
Your family is your top priority. Doing the right thing when it comes to their future is important. And that means making sure they have the financial protection they’ll need if one of you dies unexpectedly or becomes seriously ill.
You and your spouse may have some insurance coverage at work – and that’s a great starting place. But your family deserves a financial plan that protects them and your finances. An advisor can help you determine the right coverage for your needs.
Secure your family’s future
No one knows what tomorrow will bring. Protecting your family today with the right combination of insurance solutions will give you all a much-needed level of security should an unexpected serious illness or death suddenly change everything.
Tools & Resources
Life insurance calculator
Critical illness insurance calculator
Insurance for single parents
Related products
Life insurance
Critical illness insurance
Registered education savings plan (RESP)
Critical illness insurance :
Helps ease the financial impact if you or your children become seriously ill with a covered condition or illness and lets you focus on recovery
A lump-sum cash benefit will help you manage additional costs and everyday expenses such as mortgage payments, child care, education savings, retirement savings and more
Insuring your children means you can take time away from work to help care for them without having to worry about lost income
Learn more about critical illness insurance
Term life insurance :
Helps provide for your family in the event of your death
Your family’s circumstances will determine whether the affordability of term life insurance or the lifetime protection of permanent life insurance is right for you
By insuring your children you may be able to lock in lower costs, protect their future insurability and provide a solid foundation for their financial future
Learn more about term life insurance
Workplace benefits
Protection for you and your family
Your employee benefits plan is a valuable asset for you and your family. It can pay a variety of health benefits, provide important insurance coverage and offer programs to enhance your well-being. Sun Life offers a wide range of products and services that deliver the benefits you need.
Getting Started
Understanding workplace benefits
How to protect yourself from benefits fraud (video)
How will I cover my health costs when I retire?
Can you afford to get sick?
Meet Ella. A digital coach to help you meet your financial & health goals
Submit an e-claim
E-claims are fast, easy and convenient using any of these methods.
my Sun Life e-claims
Mobile e-claims
Service provider e-claims
Support questions
Submit or track a claim
Find a claim form
Check coverage
Related products
Leaving your workplace health and benefits plan
Workplace pensions and savings
Leaving a job with a pension, group RRSP or savings plan
Your plan includes some or all of these benefits:
Health and dental benefits
Take advantage of additional coverage
Drugs
Reimburses a portion of most prescription drug costs.
Vision care
Covers all or a portion of the cost of prescription eyeglasses or lenses.
Hospital expenses
Helps cover hospital care costs, in the province you live in, that are not covered by your provincial plan.
Paramedical
Covers eligible paramedical expenses that may include the services of chiropractors, physiotherapists and other medical professionals, depending on your plan.
Medical services and equipment
Covers services and equipment your physician considers necessary.
Travel
Covers medical and related expenses.
Dental
Can cover expenses ranging from cleanings to orthodontics – partially or fully – depending on your plan.
Health and wellness
Offers programs focused on improving and maintaining your health and wellness.
Changing jobs or retiring? We have options to replace your group benefits.
Leaving your job doesn’t mean you need to leave your benefits behind. Stay protected with affordable health and dental insurance coverage through Sun Life. You may be eligible to replace your coverage with our Choices plan. This could include:
Health and dental insurance
Critical illness insurance
Life insurance
Learn more about Choices and other coverage options
Affinity markets
Sun Life offers creative insurance solutions to associations and affinity groups, banks and credit unions, and educational institutions or organizations that need coverage for domestic and/or international students.
Learn more about affinity markets
Small business benefits and savings
Sun Life offers a variety of affordable, customizable benefits and savings plans that are well suited to businesses with 3 to 49 employees. Our innovative solutions deliver the rewards of a healthier, wealthier workforce.
Find out more about benefits and savings plans for small business
Affinity markets :
Canadians have trusted Sun Life for insurance and wealth solutions for over 150 years. And we've been offering comprehensive insurance and health care to affinity market clients for more than 50 years.
Sun Life is recognized for excellent customer service and outstanding performance. Vast experience has taught us that focusing on our customers, understanding their unique needs and offering innovative solutions that provide value make Sun Life the partner of choice.
Partnerships that work :
The affinity markets team is dedicated to relationships – with professional associations and affinity groups, with banks and credit unions, and with schools or organizations requiring coverage for their domestic and/or international students.
Association and affinity groups :
Traditional professional associations, other occupation-linked associations and affinity groups can help meet their members' wide-ranging protection needs, through our customized, ground-breaking products and services.
Learn more about association and affinity groups :
Creditor
Work with an experienced partner for coverage of your customers' mortgages, personal loans, business, commercial and agricultural loans, lines of credit and outstanding credit card balances.
Learn more about creditor :
Student/Educational institutions
You will benefit from the industry-leading innovations we have brought to the student insurance market. Our teams will work with you, delivering value and easy access to health care.
Learn more about student/ educational institutions
What is business owner insurance?
Whether you’re starting out or looking for ways to grow your business, business owner insurance can help you protect yourself, your partners and employees and your family.
In the early stages of your business, we can help you create a plan to keep your business running and your cash flow consistent. This way, you can remain on track even if you lose a key member of your team. Or if you suddenly need cash for a buy-sell agreement if a partner dies.
What happens when it’s time to tap into assets to help pay for your retirement, wrap up your business or pass it down? Our estate planning professionals can help you plan for a tax-efficient transfer. And in between, we can help you protect yourself, your family and your employees with life, health and disability insurance.
An advisor can take the time to understand your specific business situation and find the right coverage to safeguard your success.
Starting a business? What to do about your personal finances :
FREE Business Future-proofing 101 6-part email series
Financial considerations at each business stage
Speak with a business owner focused advisor
Think about insurance for business owners if:
You and your family rely on your business for your main source of income.
You want to give your employees the benefit of health or life insurance.
You want a business planning strategy that will help protect your business by protecting key people in it.
You want to make sure there will be money to fund a buy-sell agreement if you or one of your business partners die.
You’re looking for assets to use as security for a business loan.
You want to minimize your tax bill when drawing on corporate assets during retirement.
You want to minimize your tax bill when passing your assets along to your heirs as part of your estate.
Support questions
I’m self-employed. How do I manage my taxes?
I have a side job. How do I know if I’m ready to focus on it full time?
What can Estate and Financial Planning Services do for business owners like me?
I’m ready to pass my business on to the next generation. How do I build a succession plan?
More help:
Business continuation planning guide
Business succession planning guide
Estate planning guide
Types of insurance:
Life and health insurance can go a long way in helping you protect your business.
Term life insurance :
Term life insurance helps provide for your family if you die. It covers you for a specified time, like 20 or 30 years.
What happens if a key employee or business partner dies? The benefit from a term life insurance policy can help you continue business operations.
It can also provide money to surviving partners to complete a buy-sell agreement. This allows you to buy out the share of a partner who has died. Business owners may need life insurance to get a loan.
Learn more about term life insurance
Critical illness insurance :
Critical illness insurance helps ease the financial impact if you or a key person in your business becomes seriously ill with a covered condition.
It gives you a one-time payment that lets you focus on recovery instead of worrying about paying your bills.
You can enhance your protection with a return-of-premium option. This way, you get some or all of your money back if you don’t make a claim before the coverage ends. That means you can put the money back into your business.
Learn more about critical illness insurance
Permanent life insurance :
Permanent life insurance helps provide for your family if you die. It covers you for the rest of your life.
Some permanent life insurance policies can build cash value over time.
Business owners often use permanent life insurance as part of a corporate investment or retirement strategy. It can be a tax-efficient way to help transfer assets out of the business.
Learn more about permanent life insurance
Disability insurance :
Disability insurance helps protect you from income loss if an illness or injury prevents you from working. It can also help protect your employees.
It gives you regular, income-style payments so you can focus on recovery.
You can buy it for yourself or as part of a group plan for your employees.
Learn more about disability insurance.
Comments
Post a Comment