Corporate Life Insurance
Corporate life insurance helps business owners in Alberta protect their companies, reduce risk, and plan for the future. At SAFE CREST INSURANCE INC., we guide you through the process with clear advice and tax-smart strategies — so you can build with confidence and leave a strong legacy.
What Is Corporate Life Insurance?
Corporate-owned life insurance is a life insurance policy that your company owns. If a business owner, partner, or key employee passes away, the company receives a tax-free payout.
That money can help:
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Keep the business running
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Cover debts or lost revenue
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Fund a buy/sell agreement
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Provide a benefit to the owner’s family
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Support estate or tax planning
It’s a simple, powerful way to protect the business you’ve built.
Who Should Consider It?
Corporate life insurance is helpful for:
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Private business owners in Alberta
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Business partners with buy/sell agreements
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Companies with key employees who are hard to replace
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Entrepreneurs doing long-term tax and estate planning
It’s a flexible tool that supports growth, continuity, and peace of mind.
Raj's Story: A Business Owner Plans Ahead
Raj owns a successful construction company in Southern Alberta with his business partner, Tom. Together, they’ve built a strong team — but they knew their company could face serious risk if something happened to either of them.
SAFE CREST INSURANCE INC. helped Raj and Tom put a corporate life insurance plan in place. The policy would:
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Fund a buy/sell agreement between them
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Protect the company’s cash flow
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Help cover taxes and protect their families
Now, both owners feel confident knowing the business — and their families — would be protected, no matter what.
Frequently Asked Questions (FAQ)
Can my business own a life insurance policy?
Yes. A corporation in Alberta can own a life insurance policy and be the beneficiary.
Is corporate life insurance tax-deductible?
Generally, premiums are not tax-deductible, but the death benefit is tax-free and can offer major planning advantages. We’ll help you understand the tax rules.
What’s the difference between personal and corporate life insurance?
Personal life insurance is owned by you and protects your family. Corporate life insurance is owned by your company and protects the business.
What’s a buy/sell agreement?
It’s a legal contract that allows one owner to buy out the other’s shares if someone passes away or leaves the company. Life insurance helps fund that agreement.
Can I use corporate life insurance for estate planning?
Yes. It can help reduce taxes and leave more value in your company for your family or next-generation owners.
Let's Secure Your Company's Future
Whether you’re running a family-owned business or managing a growing company, we’ll help you protect it — with safe steps and sure direction.
📞 Call us: 403.303.2974
📧 Email: info@safecrest.ca
