The Complete Guide to Key Person Insurance in Canada

Why Key Person Insurance

Every business depends on key people. Learn why the loss of a key employee — through death, disability, or departure — is one of the most overlooked financial risks a Canadian business faces.

How Much Key Person Life Insurance Do You Need?

There's no single formula for key person life insurance coverage. Learn the three methods Canadian businesses use — multiples of income, business impact, and loan coverage — and how to use them together.

How Much Key Person Disability Insurance Do You Need?

Determining key person disability coverage is different from life insurance. Learn the three ways to calculate the right disability benefit for your Canadian business.

Death of a Key Person – Life Insurance Solutions

When a key person dies, the right life insurance policy protects your business. In almost all cases, the answer is straightforward — here's what you need to know.

Life Insurance for a Business Bank Loan

Lenders often require life insurance as a condition of a business loan. Learn exactly what they ask for, how collateral assignment works, and whether your premiums are tax deductible.

Disability of a Key Person – Understanding Coverage

Key person disability insurance protects your business if a critical employee becomes disabled. Learn how premiums are structured, what definition of disability to look for, and which policy type fits your situation.

Exit from the Business - Split Dollar Insurance

Split dollar insurance combines key person life coverage with a powerful financial retention incentive. Learn how it works and why it's one of the most effective tools for keeping a key person long-term.

How Quickly Can We Get This Set Up?

Getting life insurance in place quickly for a business loan is always a rush. Here's the process we follow to expedite policy issue and minimize delays.

Tax Treatment In Canada

Key person insurance premiums are generally not tax deductible in Canada, but the death benefit is received tax-free by the corporation. Here's how the CRA rules work — including the exception for loan-related coverage.