When you’re a business owner, you face daily risks that threaten the livelihood of your business. One risk that’s not often thought about is the concept of you suddenly, for any reason, not being able to work anymore. If this happens, be it because of a disability, an illness or some other situation — you will most likely be unable to replace your role, given the excess amount of time and effort you devote to it daily. It’s at a time like this that you will need to fall back on key-man insurance.
Key-man insurance is a life or disability insurance policy that supplies your company with funds so it can run properly in your absence. The policy is placed on yourself, or whoever is the most vital and active executive in your company, so that when they’re not there, the business continues to stay afloat financially.
If you are a business owner and want to know more about key-man insurance in Toronto, or to secure a key-person insurance plan that suits the unique model and budget of your business, connect with Ferrari & Associates today. One of our highly qualified insurance and financial professionals will be happy to meet with you and devise a plan to help further protect your brand.