A company can own and be the beneficiary of life insurance. There are many reasons that a corporation might own life insurance: key person, loan security, buy/sell arrangements, shareholder protection. In addition, we often use insurance in the holding or investment companies of business owners to achieve personal goals such as the payment of capital gains taxes owing upon death.
Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death…
Don and Kate were nervously anticipating Don’s upcoming life saving surgery. Don was also concerned that, should he not survive, Kate might not know everything that needed to be done upon his death. The night before his surgery he made…
Without a doubt, life insurance is valuable protection provided by your employee benefit plan, but should it be the only life insurance coverage you have? Probably not, if you want to ensure you have sufficient long term protection to cover…
Ong Financial Planning Services Ltd.
John Ong, CFP, CHS, CPCA, CCS
Financial Planner
Tel: (604) 676-1088
Email: 
1275 West 6th Avenue 3rd floor
Vancouver, BC
V6H1A6