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Protections to consider
According to your professional and family situation, we would recommend that you prioritize coverage as follows:
Office overhead Insurance
For your financial security
As a CPA business owner, you are aware of the financial obligations you have towards suppliers and employees. You also appreciate the effort that would be required to restart your business if no contingency plan in case of prolonged disability is in place.
Designed specifically for firms such as yours, Office Overhead insurance provides for the reimbursement of incurred business expenses during disability, without having to use personal savings or disability benefits. This allows you to concentrate on your recovery, without having to worry about your business being there when you come back.
Critical illness Insurance
To reduce the financial pressure
Although the replacement income provided by your disability income insurance allows you to meet your ongoing obligations, the additional expenses you incur during a major illness could force you to use your personal savings.
Critical Illness Insurance's lump-sum payment, which can be spent as you choose, allows you to better absorb costs related to your condition.
Critical Illness Insurance ensures that the stress of a serious disease isn't compounded by a financial one.
Life Insurance
Protect your loved ones
To protect the people you love in the event of your premature death, it is important to have adequate life insurance coverage. The insured amount should be sufficient to cover any outstanding debt as well as your funeral costs. You may also wish to leave something for a nephew, niece or preferred charity?
Determining the amount of coverage required is not a simple task and it can be difficult to find one's way through the numerous types of life insurance available. One of our experts will gladly help you determine the right amount and the right product!
Group Insurance
Attract an keep talented employees
Does your firm employ 2 or more employees?
Thanks to the purchasing power of participating firms, the Group Insurance plan designed exclusively for CPA firms provides access to professional grade coverage, substantial premium savings, additional benefits at no extra cost as well as a share of plan surpluses. Compare your plan!
Partnership Insurance
For your firm's financial security
Should one of your partners die tomorrow, would your firm have the funds needed to buy back his shares? Would you be comfortable sharing management duties with the heirs?
In order to provide the funds required for a seamless transfer of ownership, your partnership agreement should provide for an evaluation mechanism and for the purchase of the appropriate amount insurance coverage.
Protect the future of your business and your own interests!
Important: This tool is provided as a general overview of your insurance requirements. As the type and amount of coverage required can vary depending on your personal situation and goals, we recommend that you discuss your needs with a Vigilis representative by calling toll-free 1 888 682-7772 or by writing to cpa@vigilis.ca.