Individual Insurance

For Business Owners

  • We can develop solutions to problems regarding:
    • Funding the Buy-Sell arrangements that are common to the Unanimous Shareholders’ Agreement in place at many companies
    • Ensuring the financial health of a company continues upon the death of a key employee

    Product Examples

     

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    Key Person Coverage – Do you find that any of your employees are extremely valuable to the ongoing success of your business? What would happen to your business’s cash flow if one of these individuals was no longer able to work? Benefex offers lump sum monetary benefits, payable to businesses, to replace lost revenue that key employees would otherwise have been generating.

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    Funding Buy-Sell Agreements – Is your business operated in partnership with another? In the event of your partner’s untimely death, who would inherit their share of the business? It will be a valuable exercise for you to determine the answer to this question and decide whether you would be comfortable working with that individual (or whoever they sell their shares to, in turn). It is possible for your business to place insurance on the life of the partners, which will purchase their share of the business upon their death, and then transfer those shares to you.

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    Business Overhead Expense Coverage – Are you responsible for the administrative costs of your business, regardless of whether you are working at the time? You are able to obtain insurance to cover the costs of doing business should you find yourself unable to work to generate an income to cover these costs yourself.

For Families

Benefex provides assistance to people to overcome many potential threats to the well-being of their families. Families can struggle with illness, accidents and/or the death of a family member and the financial issues that usually accompany these events. We can help to provide you with comfort and security in the knowledge that your family has been provided for in times of need.

  • Money to pay off the mortgage and other debts
  • Income continuance for your family
  • Fund your childrens’ education
  • Capital to pay for childcare
  • Continue your income in the event of illness or injury
  • Furnish cash when a major illness impacts your family
  • Aid in ensuring that you can be comfortable in retirement

Benefex acts as your broker and can obtain quotations from a wide assortment of providers.

Product Examples

 

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Death Benefit – A lump sum monetary benefit for you to leave for the beneficiary/ies of your choice, upon your untimely death.

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Disability Benefit – Regular weekly or monthly payments to replace your lost wages if you are unable to work due to a medical condition.

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Health and/ or Dental benefits – Reimbursement or direct-to-provider paid coverage for most health or dental care expenses. Let us help you find the right coverage for anything from small regular occurrences to large, costly, and rare items.

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Disease or Medical Diagnoses benefit – Lump sum monetary benefit payable to you in the event that you receive a serious medical diagnosis. Use the money for health expenses, modifications to your vehicle or home, or clearing your bucket list!

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Retirement Home benefit – Will your care in retirement place a burden on your children? Or are you worried about the affordability of your parents care? Long Term Care insurance helps to cover the cost of a retirement home for you or your loved ones.