Important Notice: While our offices remain open, we ask that you please make an appointment given hybrid/remote work considerations. Thanks for your understanding and we look forward to seeing you.

Estate & Succession Planning

Customized Solutions that Solve Business Challenges

Insurance is an extremely versatile financial tool that can be used to help businesses grow and thrive — and even continue to function if the worst happens.

Whether you’re a startup or an established company, we can help you retain key team members, reduce your tax burden, grow retained earnings, manage risks, and plan for a smooth transition to the next generation of ownership.

Request a Consultation

The Power and Convenience of ExecAssure

Very few business owners are aware of the full capabilities of insurance. It can be used to house other financial assets (allowing them to grow in a tax-advantaged way), provide cash payouts, provide retirement income, fund buy-sell agreements between business partners, and much more.

ExecAssure is customized to your company’s specific needs for every stage of your business growth. We select the right combination of insurance policies for your situation, and combine them in one highly effective and convenient package. You get independent, expert guidance and clear lines of communication at all times.

It starts with a discussion with our expert team about your goals and challenges. We identify risks you may not have considered, and outline the options to manage those risks to you and your legal and financial teams. Then we assess the best insurance solutions from the market and put them to work for you.

Our solutions help businesses solve a variety of business problems.

Attract and Retain Key People

As part of an executive compensation package, an advanced level of insurance can give key team members the peace of mind they need to excel. Insurance can also be the deciding factor when deciding whether to work for you or someone else. We have solutions for:

If you have three or more executives that will receive these types of coverage, group rates from the individual carriers start to apply.

Reduce the Taxes Your Company Pays

An insurance policy owned by your company can be used as a vehicle to protect your investments from taxes. When you retire, the value of the investments will be maximized, and the cash value of the policy can be used to supplement your retirement income. When you pass on, the corporation receives the benefit, and can pay shareholders tax-free. 

Learn more about insurance as a tax shelter

Plan for the Loss of a Business Partner

One of the biggest mistakes businesses make is not planning for the sudden loss of a business partner: a resulting dispute with the surviving family can cripple your company for months. Having a buy-sell agreement in place for each partner’s share of the business, and funding that plan through a company-owned life insurance policy will mean clear expectations on all sides. Should the worst happen, your company will be able to start moving forward again quickly, often in a matter of days.

Provide Cash in an Emergency

There are types of insurance that have a guaranteed cash value that can be used by your business if an emergency arises. These funds could help smooth relationships with creditors if you need to assure them that you can cover debts, or could be used to keep the business going if times get tough.

Succession Planning

Succession planning can take years to implement, and requires funding in almost every scenario. A life insurance policy can be used to fund your plan, whether you want to hire and train a replacement, compensate family members who don’t wish to take over the business, or simply have a source of retirement income.Starting succession planning when you’re 50 years old instead of 70 years old can give you significant cost savings.

Learn more about insurance in succession planning

This Level of Expertise Only Comes with Experience

The life insurance experts at Palladium have decades’ worth of experience helping businesses overcome challenges at every stage of growth. Our accumulated knowledge of best practices in financial planning and risk management has made us the trusted advisors of businesses across Canada. Because we take the time to re-analyze every insurance carrier for every new ExecAssure package we create, your organization always gets the best options available on the market.