Did you know that Canada has almost 750,000 small businesses that have 1 to 4 employees?
Among the many advantages our products offer, creditor protection is a particularly attractive feature for your clients who are small business owners. Here are two products you can promote to meet their needs!
Investments held in segregated funds can be exempt from seizures by creditors. This benefit can give your clients peace of mind knowing that, whatever happens, their investments will be protected.
However, there are two conditions:
- At least one “preferred” or irrevocable beneficiary must be designated.
- The investments must be made in good faith, without any intention of fraud.
Do you have clients who have mortgages, lines of credit or other debts they haven’t paid off yet?
Universal Loan Insurance lets them cover all their debts under one policy. In case of disability, they’ll receive benefits to help them keep paying off their debts.
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Want to learn more about coverages that can benefit business owners and self-employed workers?
See our guide: Disability Insurance for Business Owners and the Self-Employed. There you’ll find everything you need to know about insurance needs for small business owners!
