How Business Owners Can Insure Themselves and Access Their Corporate Retained Earnings
The strategy we outline in this blog posting helps solve 2 main problems for business owners:
1) They need the insurance
2) They want to know how to pull retained earnings from their company in the future without losing 1/2 of it to taxes
Here's an infographic for shared ownership critical illness insurance (also called "Executive Health Savings Plan" or EHSP.) In this infographic, we outline the concept, how it works, sample study and how it can benefit you.
Shared Ownership Critical Illness offers business owners and incorporated business professionals a way to access the retained earnings in their corporation or provide benefits to a key employee.
Here are 2 pieces from leading Canadian providers that explain it from their viewpoint
Sun Life - Shared Ownership Critical Illness Strategy (PDF)
Desjardins Insurance - The Executive Health Savings Plan (PDF)
Talk to us to see how we can help you.
Contact Us
At Safe Pacific Financial, we specialize in helping Canadian business owners, incorporated professionals, and investors structure life insurance for maximum wealth protection, tax savings, and business growth.
If you would like to discuss whole life insurance or investments, we’re happy to chat and see if we can be a good fit to work with you. Fill out our contact form and we will get back to you within 24 hours on business days.
Related Insights
How to Borrow from Yourself Safely Using Life Insurance
High-income Canadians know the value of liquidity—but too often, accessing capital means triggering taxes, taking on debt, or selling investments at the wrong time. What...
Are You Ready for the Strategy You Want?
We've noticed a pattern in client meetings over the past few weeks that we want to talk about openly. Business owners are coming in excited about...
RRSP vs. TFSA: Which Is Better for High Income Canadians
If you're a high-income Canadian, here's the truth: using RRSPs and TFSAs the wrong way could mean paying far more to the CRA than you...
The Million Dollar Baby Plan: Grow a Legacy for your Children
What if the birthday gift you gave your child today could turn into a million-dollar asset tomorrow? That's the idea behind the Million Dollar Baby...
Before You Sell Your Investments, Read This.
Markets are down, your portfolio took a hit, and you're wondering—should I sell now and cut my losses? Stop. Because selling during a market downturn...
Why Life Insurance Isn't Just for When You Die
If you think life insurance is something you'll never personally benefit from, you're missing the bigger picture. Permanent life insurance can provide liquidity, protect your...
Whole Life Insurance vs. Universal Life Insurance
Permanent life insurance can double as a powerful wealth-building tool—but not all policies are created equal. If you're an incorporated Canadian professional or business owner...
How Dollar‑Cost Averaging Is Helping Canadians Build Wealth
Between work, family, and everything else life throws at you—who has the bandwidth to watch the stock market every day? If you're a busy Canadian...
Must-Know Strategies for Business Owners Right Now
Over the past few weeks, our client meetings have shifted into a higher gear. The conversations we're having aren't about the basics anymore — they're about optimization. Business owners who already have insurance,...
Using Life Insurance to Fund a Buy-Sell Agreement
Imagine one of your business partners passes away tomorrow. Suddenly, their spouse or their kids own a share of your company—and you're expected to buy...
5 Mistakes High-Income Canadians Make With Their Wealth Plans
If more money automatically meant more wealth, every top-earning Canadian would retire stress-free. But that's not reality. The gap between earning well and building lasting...
What are Notional Accounts and How do They Work in Canada
If you've wondered what are Notional Accounts and how do they work in Canada, this is the post for you. Most incorporated Canadians are great...
