Business Services

Business Succession Planning and Insurance

Financial Advisor in South Surrey, BC

At Westgroup Financial Management we can help your business with a wide range of business services. We provide Corporate insurance such as Group Benefits, Extended Medical, Dental and Vision Care coverage for employees. In addition, we provide Short Term/Long term disability coverage and Key Person insurance to ensure that you and your employees have the protection they need. We also provide a wide range of investments that can be structured for employee RRSP and RESP contributory plans. Westgroup Financial Management can also help your business with a succession plan. A succession plan can help the transfer of your business go smoothly, and allow you to maintain good relationships with employees and business partners in the process. Succession planning helps protect the legacy of your business.

Investment Services Kamloops

Business Services

  • Group Benefits
  • Extended Medical, Dental and Vision Care coverage for employees
  • Short Term/Long term disability coverage
  • Key Person insurance
  • Investments structured for employee RRSP, TFSA and RESP contributory plans
  • Business succession planning
  • Business overhead insurance
  • Business interruption insurance
  • Fleet insurance
  • Commercial auto insurance
  • Buy-Sell Insurance
  • Critical Illness insurance

What are the benefits of corporate-owned life insurance?

Corporately-owned life insurance has some unique characteristics that make it particularly attractive for these assets. Some of these benefits include:

Using corporate capital to pay for premiums, which is more tax efficient than personal capital. Elimination of future taxation by transferring capital from a tax-exposed environment to a tax-free environment Tax-free growth of investments and income earned within the policy

Creating a large credit to your capital dividend account when insurance proceeds are received, which allows funds to flow to your heirs tax-free

Ensuring liquidity to pay capital gains taxes without selling assets Magnifying the value of the estate

Using the policy to provide cash flow in retirement by leveraging the cash surrender value Significant tax savings to the estate as the death benefit is not included in the fair market value of the shares of the corporation for capital gains calculations

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