You face many challenges in the management of your business – from managing the day-to-day operations to achieving its long-term success. If you or a key person dies, these challenges may also include ensuring that your business continues to provide enough funds for your beneficiaries to cover potential capital gains taxes and the collateral needed for debt financing.

Life insurance is one of the most effective solutions for funding these types of business needs since it guarantees that money will be available when you need it most.

Term insurance can be a good choice of life insurance protection since it can meet your needs now and fits comfortably within your business cash flow. Most importantly, Business Term gives you low-cost life insurance protection that can be customized for your company’s specific needs.


Protection for You and Your Business

  • Business Term life insurance is a cost-effective way to fund a buy-sell agreement since it ensures funds are there when they’re needed
  • Business Term life insurance provides immediate tax-free cash to help a business replace a key person
  • Insurance can provide your beneficiaries with the funds needed to pay estate taxes
  • Unlike traditional term insurance plans, Manulife’s Business Term lets you save by having one plan cover you and your business partners

Flexibility to Change as Your Business Needs Change

  • Business Term coverage is available for both temporary and lifetime needs in the same plan
  • Coverage can easily be updated and changed as your business grows and changes
  • You choose the payment option and amount that suits your needs and cash flow

Easy to Understand 

  • Business Term insurance coverage is an easy-to-understand, low-cost insurance option
  • Your contract is written in plain, easy-to-read language
  • Your plan is easy to manage with statements and notices that are easy to understand



Business Term Life insurance
Business Term provides insurance coverage options to meet your long and short-term needs. Coverage can be renewed and future payments are guaranteed.

Choose one or more of the following coverages in the same plan:

  • 10 year term coverage
  • 20 year term coverage
  • Life-time coverage

Additional Protection
You can also choose additional options such as:

  • The Business Value Protector Rider is an option to purchase additional life insurance in the future without providing the normally required evidence of continued good health. The amount is customized to increase with the growth in the value of your share in the business.
  • Monthly charges waived by Manulife Financial if you were to become disabled.

Standard Benefits
The following benefits are available at no extra charge:

  • Payment for bereavement counselling for your family.
  • In case of terminal illness, you may be able to obtain a loan based on a portion of the death benefit.

Call Commonwealth Financial Today.