By providing a source of cash, life insurance can help to sustain your business and ensure continuity if you were to pass away. The funds can be used to cover taxes and final bills, provide cash flow during the transition period, recruit or train your replacement, or buy out shares in the business.
This is an ideal time to take stock of your life insurance needs. If you have personal life insurance, will it be enough to provide for the financial needs of your business and your family?
You may want to think about increasing your insurance protection to reflect the long-term investment your business represents. Term insurance is a popular option for small business owners, whether they are facing the challenges that are part of every start-up or the demands of a growing business.
In your new role, you will want to ensure you are covered and that your family won't be left with debt related to your business if you are no longer here.
The option you choose will depend on whether you already have some type of personal coverage. If you do not, you might want to purchase an option that provides sufficient protection for your family for the next start-up years.
TD Insurance offers 3 options and the security of a respected brand you can trust:
When considering your choice, keep in mind that you can purchase a combination of the above. For example you might want to combine Term to 100 with Term 10 insurance to provide extra protection for the next 10 years, in particular if you have a debt to be paid off during that 10-year period.
Our term products (10, 20 and to 100) premiums are guaranteed at the time the coverage is issued. You can convert Term 10 and 20 to Term to 100 until the age of 69.
Select the scenario closest to you: