Tax Saving Concepts for Business Owners and Affluent clients

Why do the wealthiest families in the country carry so much life insurance?

As business owners, we are aware of the sacrifices associated with building and sustaining a profitable business. Endless hours, constant stress, and challenging situations both short and long-term can threaten the viability of a small or medium-sized business. Business owners carry a heavy burden and maximum risk with no guarantees. As your business grows, so do a number of problems. Often, these problems are recognized too late. Proper business planning will ensure your business continues to be successful.

 

So why not protect your hard work and what you’ve built?

 

The wealthiest families in the country understood that life insurance is a powerful tool to help plan their estate, protect what they worked so hard for, and transfer their wealth tax-efficiently to their families or donate to a charitable cause of their choice. In contrast, others continue to overlook this tremendous opportunity.

 

Yes, life insurance is a much more attractive financial vehicle than it seems.

Have we piqued your curiosity?
Contact us today to discover how life insurance can help
enhance your asset protection and estate planning strategies.

Insurance Solutions for Corporations, Business Owners and Affluent clients

Many business owners don't even know they have a problem - do you? Understanding the issues can mean financial health for you, your business and your family.

If you are a shareholder of a successful, private corporation and you are looking for an advisor that can quickly understand corporate organizational charts, financial statements, shareholder agreements, and all the financial information necessary to improve recommendations to your benefit then Gennaro Natale is your advisor.

You want your business to continue if any of the shareholders die. If you die, you want to be sure that funds are available to buy your shares and provide your estate with the liquidity it needs. You also want to ensure that if another shareholder dies, funds are available to purchase their shares to facilitate an orderly and timely buy-out. There are a number of different ways you could provide this capital. You could establish a savings plan to accumulate the required funds, or at the time the need arises, you could use personal or corporate cash or borrow funds from a bank.  A life-insured Buy-Sell Arrangement could be an option to consider.

  • How Buy-Sell Arrangement Works
    What will you do if a partner is sick, disabled, or dies?
  • Critical illness insurance

    If you’re diagnosed with a critical illness, focus on recovery with support from a critical illness insurance solution that guarantees a lump-sum payment when you have certain health issues. Manulife insurance lifecheque client brochure

  • Disability Insurance
    Do you know what is your income replacement ratio?
    In other words: “What portion of your income will you continue to receive in case you are  sick or disabled?”
    Get help protecting your family and your business from an unexpected illness or accident that leaves you unable to earn an income with a disability insurance solution.
  • Key person insurance
    What will you do if a key person is sick, disabled, or dies?

Request a call back for a personalized solution today.

Group Insurance

As an Employer / Human Resource / Payroll Director, you certainly aspire to have a healthy workforce and deal with a recognized expert in group insurance who knows the challenges of the market. This is what we offer at Groupe Natale Inc.

In the scope of our mandate, we will proceed with a detailed analysis of the current group insurance plan structure or the one to follow in order to determine adequately the needs and expectations of the employees and the employer. We strive and seek opportunities to enrich plan value, reduce costs and help improve the employee experience.

This market analysis will be carried out in collaboration with a leading industry firm, Groupe Censeo inc., established in 1994 representing nearly 1,200 groups totaling over $125M of yearly premiums & $150M in Group annuities under management fully staffed with 27 full-time employees, highly qualified, passionate, conscientious, dynamic, and professional consisting of 10 actuaries, analysts, and a customer support team with an average of 16 years of seniority at your service.

Our vast experience, the scope of our expertise, and our model of personalized analysis set us apart from our competition and guarantee our clients the best conditions on the market.

Our preventive approach is unique in the industry and shows measurable results. Our main concern is the health of your employees. That’s why we created the health capsule, the brochure “An optimal usage of your drugs” and the personalized health profile. These communication tools will help your employees stay informed on how to maintain a good physical and psychological well-being.

For more details, please refer to our Group Insurance and Group Annuities Service Offer.

At the beginning of 2022, Group Censeo inc. joined People Corporation and its affiliated companies.

 

We are proud to say that People Corporation is a leader in Canada in providing group insurance solutions, pension plans, health and wellness solutions, human resources and is the largest Third Party Administrator (TPA) and Third Party Payer (TPP) in Canada.

People Corporation is:
  • 17,000 corporate clients (including 4,600 in Quebec) and 3 million members
  • 50 offices in 28 cities across Canada
  • $3 billion in group insurance premiums (Including $500 million in Quebec)
  • $14 billion in assets under management in group annuities
  • More than 2,000 employees (including 320 in Quebec)

Service Offer:

Our services include:

  • Analysis of the current situation/recommendations
  • Solicit multiple insurance proposals
  • Preparation of a detailed market analysis report of the highest quality
  • Implementation of the plan
  • Customer service | Deductions per pay
  • Annual renewal

Here are your optional benefits:

  • Life insurance (spouse and children too)
  • Critical illness insurance
  • Medication insurance (prescription drugs mandatory in Quebec since 1997)
  • Health insurance
  • Paramedical professional services (physiotherapy, massotherapists, etc.)
  • Dental insurance (cleaning, preventive, major restorative)
  • Travel insurance (24/7 globally)
  • Vision care (examinations, glasses, and contacts)
  • Short-term disability insurance
  • Long-term disability insurance

Complimenary services:

Useful links:

Group Retirement Plans

The new demographic and social realities, as well as the workforce shortage, compel employers and employees to realize the importance of establishing a group retirement plan.

Working with dozens of trusted partners for over 33 years has awarded us the privilege of providing a multitude of financial solutions to serve you better.

For more details, please refer to our Group Insurance and Group Annuities Service Offer.

Here are your options:

  • Retirement Savings Plan (group RRSP)
  • Deferred Profit-Sharing Plan (DPSP)
  • Simplified Pension Plan (SPP)
  • Tax Free Savings Account (group TFSA)
  • Voluntary Retirement Savings Plan (VRSP)

Office Overhead Insurance

What it is?

Office overhead offers great features and benefits for self-employed individuals. By reimbursing business expenses like salaries, rent, utilities and more, Office overhead insurance can help make sure you don’t have to close up shop early because of a loss of income from an illness or injury.

Who it’s for?

Office overhead insurance is ideal for self-employed people directly responsible for business expenses.

How does it work?

Office overhead insurance provides monthly reimbursement of business expenses in case of total disability. Premiums paid may be tax-deductible as an expense.

With office overhead insurance, you can:

  • Be certain your premiums and coverage won’t change if your health changes
  • Have business expenses reimbursed based on the most preferred definition of total disability (based on own occupation definition for classes 4A and 3A)
  • Get up to $40,000 of monthly benefits
  • Gain the advantage of special carry-over and extended monthly benefit features when business expenses vary from month to month
  • Receive extra payments from the Disposal of Interest in Business feature (includes legal and accounting expenses)
  • Convert to an income replacement plan if protection is no longer needed for business expenses.