Adopting a strategy to include permanent life insurance is a solid practice for more and more wealthy Canadian business owners.
"Clients want protection that satisfies two simultaneous goals: 1) optimizing the value of their business for future shareholders and 2) take advantage of opportunities to grow."
Here are 5 key reasons why permanent life is a solid decision for many Canadian business owners:
1. Wealthy business owners can use permanent life insurance to protect their estates and address tax issues
2. Use insurance as a tax-efficient asset, not just an expense
3. Enhance a corporate balance sheet by minimizing tax burdens and enhancing liquidity.
4. Do more with insurance than protecting human capital; retain financial capital
5. Build a tax-sheltered cash accumulation fund with a high degree of stability