While one of the most common reasons to purchase corporate life insurance is to provide tax-free dollars to loved ones, corporate financial needs can also play a dominant role. For example, in a business situation corporate life insurance proceeds can be used to buy out a partner or to help bring in a “key” individual to continue and run/operate the company.
At Fleury Financial, we understand that your business and insurance needs are unique to you and your company. We work with you to identify your needs, and offer a variety of products highlighting the advantages of each insurance approach. We also solicit the insurance market for the best rates and the most comprehensive packages. Our bottom line is to ensure you have a clear and concise understanding of all the different programs available and help you to determine the right choices for you.
Whole life insurance provides guaranteed level premiums and guaranteed insurance coverage for life. There is a guaranteed cash value as well as paid-up features. The level premium is higher than initial term insurance premiums, but this higher premium contributes towards a significant tax-deferred savings component.