Corporate & Small Business Overview 

why choose us

At Safeguard Insurance & Financial services, we understand that the current economic climate is challenging for all businesses. We know that it is more important than ever to reduce costs, improve efficiency and protect businesses against uncertainties.

A solid foundation built on expert advice and support is the surest way to sustain and achieve growth for the future. Our service goes far beyond placing insurance policies and retirement savings plans for your employees. We will help assure your company's stability, profitability and growth. We will give you our undivided attention as we help you to identify and analyse the risks your company faces, providing you with a competitively priced solution that is as individual as your organisation.

In addition to reviewing your current needs, we would be happy to review your existing coverage's (if any) and find the ways in which we can maximize your current investments and custom tailor solutions in order to protect you and your business and family from potential shortfalls in "Your Plan" or from financial losses.

Should you require a Commercial Lending, Commercial Insurance or Commercial Realtors, we have the developed relationships to help make you process easier


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Buy Sell Insurance 

USING INSURANCE TO FUND A BUY SELL AGREEMENT IS A SMART BUSINESS DECISIOn.
A

To protect your business, loved ones and co-owners or partners, you can implement what is known as a buy sell agreement (both Life and Disability funded), which specifies what will happen to the interests of an owner, partner or shareholder who passes away or becomes disabled.

If your company's buy sell agreement requires that the other owners or partners purchase the deceased/disabled owner's interests, we can help facilitate the funding being used for the buyout rather than using personal funds or business assets— can be used to fund the buy sell agreement.

For many business owners, the simplest option is to purchase a life or disability insurance policy on each co-owner or partner. In this way, funds could be available to complete a buyout and provide the families of each partner or co-owner a secure source of funds for the value of their interest.

Alternatively, the business can purchase insurance on each co-owner or partner and use the insurance proceeds to purchase or redeem the deceased or disabled owner's interest in the business.

If an insured owner or partner with your company were to die, the tax-free life insurance proceeds of a buy sell life insurance policy would allow the other owners or partners to buy the deceased's share of the business.

KEY FEATURES AND BENEFITS:
  • Substantial coverage amounts are available.
  • We offer several term and permanent life insurance plans that can be used to fund a buy sell agreement or provide retirement income.
  • The policy may be owned by the corporation or partnership—or each owner can own a policy on each of the other owners.
  • Premiums are not tax-deductible; however, the life insurance proceeds are tax-free to the beneficiary of the policy.

Group Benefits 

B

A well-designed group life, health and dental insurance plan is a coveted employee benefit that can make a real difference in your company's ability to attract and retain quality talent.

With Safeguard Insurance & Financial Services LTD, we can provide you with objective advice and personalized, one-on-one service to help you get the best plan at an affordable price from among Canada's leading group benefits providers. We custom tailor the perfect mix of Health, Prescription and Dental Care Benefits as well as Life Insurance, Disability Insurance and Accidental Death and Dismemberment Benefits.

A few features and benefits for your business
COMPETITIVE EDGE IN THE JOB MARKEt
  • You attract and retain employees, which helps minimize costs associated with high turnover.
  • Plans provide financial support for your plan members and their families in the event of a death or tragic accident.
  • Plans bridge the widening gap between provincial health insurance plans that your members and their families need.
ACCESS TO INSURANCE AT A REDUCED COST 
  • compared to most health and dental individual insurance plans. Group plans do not discriminate and are not anti-selective, offering all participants the same benefit plan.
COST EFFECTIVE METHOD TO PROTECT EMPLOYEES
  • Increased productivity and higher morale by providing financial security and support to employees.
Tax effective form of compensations
  • Most premiums an employer pays are tax deductible as a business expense.

Group Savings Plans 

C

Group savings plans are one of the best ways to save for your retirement. Registered plans, such as Group RRSPs and Registered Pension Plans, enable you to help your employees save consistent amounts over a long period of time, a technique known as dollar-cost averaging.

ALONG WITH THE SAME TAX ADVANTAGES AS A PERSONAL RRSP, GROUP RETIREMENT PLANS OFFER THE FOLLOWING ADVANTAGES TO NAME A FEW
  • Payroll deductions for immediate tax benefits.
  • Employer contributions enhance your employees personal contribution amounts.
  • Preferred management fees on pooled funds.
  • Educational sessions provided by Safeguard Insurance & Financial Services.
  • Tax advantage to you the employer.

We also offer Non Registered and Deferred Profit Sharing Plans.



Health Spending Account 

C

An HSA provides a way for a business to pay for medical expenses using before tax dollars. Consider a health spending account a piggy bank for your drug, dental and extended health needs. Money deposited by your business can be used to cover all CRA approved eligible personal medical expenses. By using a 3rd party administrator such as "YourHSA" all contributions are 100% tax deductible for your business and tax free to you as you make eligible expenses.

Contact us today for additional information and how an "HAS" can benefit you and your company.


Contact Us

SafeGuard Insurance &
Financial Services Ltd.
1522 Main St E. Unit 1
Hamilton On, L8K 1E8
 
Ph (905) 962-7797
E-mail: info@safeguard-ltd.com

Testimonial

John Ferguson

Key Person Protection

Why is key person insurance important for your business?
D

Does your business include someone whose contribution is vital to the survival of your company? If yes, then key person insurance should be a part of your business continuity and succession plan—especially if you're a small business owner.

If a key member of your team passes away or becomes disabled, your bottom line may suffer in the short-term, and over the long-term, you may have to find a replacement or even shut down your business. However, with the benefits payable from a key person life or disability insurance plan, you could:

  • Recruit, hire and train a replacement.
  • Pay off debt and deal with creditors.
  • Alleviate lenders' concerns about your company's financial health.
  • Reassure customers, employees and investors that the business will continue operating.

What's more, if you and your family rely on your business as a primary source of income, key person insurance can help ensure that the business will continue to provide a secure financial future.


Business Overhead Insurance

WITH BUSINESS OVERHEAD EXPENSE INSURANCE, YOU CAN BE THERE FOR YOUR BUSINESS, EVEN WHEN YOU CAN'T WORK.

E

If your business depends on your ability to generate income to help pay the bills, your absence due to a long- or short-term disability would impact the bottom line.

That's why we provide business overhead expense insurance. It's designed to help businesses with owners/partners who actively generate income (such as physicians, lawyers, accountants and engineers) pay ongoing fixed expenses—like salaries, rent, property taxes and utilities—in the event that a partner or owner becomes disabled and is unable to work.

KEY FEATURES AND BENEFITS.
  • You may apply for coverage if you are between ages 18 and 60.
  • The plan is non-cancelable until you reach age 65. After age 65, it is conditionally renewable, as long as you remain employed full-time (minimum of 30 hours per week) and are responsible for the expenses of maintaining an office or business.
  • Benefits can be paid over a period of time of either 15 or 24 months.
  • Benefits may start after as few days of disability.
  • Premiums may be tax-deductible as a business expense.
  • Various options are available, including the ability to increase your coverage at a later date.
  • If appropriate, return to work assistance may be provided to support your transition back to work.

Business Loan/Mortgage Protection

F

Would your business be put at risk if you or a key employee passed away—or if a partner became injured or disabled? Would you need to use your personal savings or other assets to help pay off your company's outstanding business loans?


yourHSA