Business insurance

To help with insurance coverage for you and your business, you can talk to our Insurance Advisor to assess what type of coverage is needed to protect you, a partner or a key employee in the event something happens. 

Whatever your needs and goals, we provide solutions, products and services to help you meet them
Gulf and Fraser Insurance Services Ltd. is a wholly-owned subsidiary of G&F Financial Group. This website is for informational purposes only and is not intended to provide specific insurance, financial, investment, tax, or other advice to you, and should not be acted or relied upon in that regard. We encourage you to seek personalized advice from a qualified professional. Insurance products are underwritten by certain licensed insurance companies and are only available throughout British Columbia, Canada

Key person insurance Expand/Collapse

Key person insurance provides assurances to a small business creditor’s and employees that the business will continue even if a key person passes away.  The life insurance proceeds provide immediate cash to cover the business’s working capital needs and to find and train a suitable replacement for the key person who passed away.

Business loan protection Expand/Collapse

A life insurance policy purchased for business loan protection can help a business negotiate loans and repay business debts with a tax free life insurance proceeds when a business owner or another key executive dies. It ca also prevent business owner or their estate from becoming personally liable for the business debts if the owner passes away.

Buy/Sell funding Expand/Collapse

Ensuring there is a plan for the eventual transfer of the business interest will help owner realize the full value for the business interest and it will also help the business and the remaining owners survive the transition.  This succession plan is typically done through a buy-sell agreement.

Life insurance is an efficient way to fund the obligation that results from a buy/sell agreement when a shareholder or partner passes away.  There are numerous possible ways to structure a buyout on death and life insurance funding pays an important role in ensuring the buyout occurs.

Funding capital gains Expand/Collapse

When an individual who owns shares in a corporation, a partnership interest, or business asset will be deemed to have disposed of these properties at death.  Life insurance is an effective way to fund the tax liability that will arise with the disposition of these assets.