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Corporate-Owned Life Insurance (COLI) is a strategic financial tool that helps businesses secure their future, protect key employees, and optimize tax benefits. Unlike personal life insurance, COLI is owned and paid for by a corporation while covering key stakeholders like owners, executives, and key employees. By using corporate funds, which are taxed at a lower rate than personal income, businesses can maximize cost-efficiency while ensuring financial security in case of unforeseen events.
Corporate-Owned Life Insurance works by structuring the policy in a way that benefits both the company and its stakeholders.
Businesses pay for the policy using corporate after-tax dollars, which is more tax-efficient.
Company owns the policy, pays the premiums, & is the beneficiary of death benefit.
The death benefit is credited to the corporation’s CDA, allowing tax-free distribution to shareholders.
Businesses can leverage the cash surrender value of the policy as loan collateral
This Life Insurance offers numerous advantages for businesses of all sizes:
Designed for business owners, corporations, and key executives looking to secure their financial future.
Tax-efficient protection that minimizes financial strain on the business.
Ensures business continuity by providing funds for ownership transfers and key employee coverage.
Flexible payout options that can be used for business expansion & wealth preservation.
Safeguards business operations by covering outstanding debts, succession planning, and shareholder agreements.
Follow these simple steps to secure corporate-owned life insurance—get expert guidance, seamless processing, and complete support every step of the way.
Submit documents required through our quick and online channels.
Because your business deserves lasting security.
Top Canadian firms insure their employees using this policy.
Apply NowOnce we connect, you'll receive a free consultation and a personalized plan as per your needs.
Receive your Travel insurance policy certificate, ensuring coverage of your loved ones.
Safeguard your company’s future, retain top talent, and prepare for succession with this financial protection.
Premiums are paid with lower-taxed corporate income, and cash value grows tax-deferred.
Provides liquidity for operations and succession planning if an owner passes away.
Protects against financial loss and covers recruitment and training costs for replacements.
It safeguard business assets from personal creditors, ensuring financial stability.
Allows shareholders to buy out a deceased partner’s shares without financial strain.
Helps transfer wealth to heirs while minimizing estate taxes using insurance proceeds.
The policy’s cash value can be used as collateral for business loans, improving liquidity.
Death benefits go into the Capital Dividend Account (CDA) for tax-free distribution to shareholders.
Explore tailored insurance solutions designed to match your business goals, leadership needs, and long-term vision.
| Choose The One That Fits Your Needs! | |
|---|---|
| Term Life Insurance | 1. Provides coverage for a fixed period (e.g., 10, 20 years). 2. Ideal for covering temporary liabilities like business loans or key employees. 3. Lower initial premiums, but no cash value accumulation. |
| Permanent Life Insurance | 1. Covers the insured for their entire lifetime. 2. Accumulates cash value, which businesses can access for loans or investment. 3. Includes Whole Life, Universal Life, and Term to 100 options. |
Future-proof your business with coverage that supports growth, transition, and financial stability.
Schedule A MeetingCorporate-Owned Life Insurance isn’t just for protection—it can also be used as a financial asset to support business expansion and investment.
Permanent policies accumulate cash value over time, which can be used as an investment vehicle.
The cash surrender value of the policy can be used to secure business loans, improving liquidity without selling assets.
Under the right structure, businesses can access policy funds tax-free, making it a powerful financial planning tool.
Many business owners struggle with estate planning, especially when some heirs want to continue the business while others don’t.
Ensures fair wealth distribution among multiple heirs or partners.
Prevents disputes by funding buyouts with insurance proceeds, ensuring a smooth transition.
Helps protect family businesses and ensures continuity for future generations.
The Capital Dividend Account (CDA) is a powerful tax advantage that allows businesses to distribute life insurance proceeds tax-free to shareholders.
When the insured person passes away, the death benefit is credited to the CDA.
Shareholders can receive tax-free dividends, maximizing wealth transfer efficiency.
Businesses can use the payout to settle outstanding debts, fund buyouts, or reinvest in operations.
To maximize tax efficiency & avoid pitfalls, it’s vital to set up COLI properly.
The corporation should own and be the beneficiary to avoid unexpected tax consequences.
Improper structuring could result in taxable benefits for employees or shareholders.
Professional guidance helps optimize tax savings and ensure legal compliance.
See how business-focused insurance creates financial leverage and succession clarity for your company.
| Feature | Corporate-Owned Life Insurance | Personally Owned Life Insurance |
|---|---|---|
| Tax Benefits | Premiums are paid using lower-taxed corporate income. | Premiums paid with higher-taxed personal income. |
| Policy Ownership | Business owns and is the beneficiary. | Individual owns and designates their beneficiary. |
| Payout | Death benefit is paid to the corporation and can be distributed tax-free via CDA. | Death benefit goes directly to named beneficiaries. |
| Collateral Loan | Policy’s cash value can be accessed for business use. | Policy cash value can be accessed for personal use. |
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From protecting your business pillars to planning succession, our FAQ clears up common questions about corporate-owned life insurance—helping you make informed decisions that secure your business and legacy.
