By Pascale Hansen

Have you considered leveraging insurance as a key asset in your financial planning strategy? With the recent changes in capital gains legislation (for corporations, the capital gains inclusion rate increased to two-thirds from one-half), now is the perfect time for business owners and professionals to explore the wealth-building potential of insurance.

Traditionally seen as a safeguard against liabilities, insurance can actually be a powerful tool for generating and maximizing wealth. It offers benefits such as tax advantages, wealth preservation, and seamless wealth transfer to shareholders and beneficiaries.

As businesses navigate the changing financial landscape, incorporating insurance into wealth management is crucial. Whether it's investing in a permanent life insurance policy or setting up a buy-sell agreement supported by life insurance, there are various strategies available to protect and grow your wealth.

But insurance isn't just about accumulating wealth - it's also about mitigating risks. Long-term disability insurance and critical illness insurance can provide financial security in the event of unforeseen circumstances that prevent you from working.

The key to maximizing the potential of insurance lies in working with a financial adviser to tailor a strategy that aligns with your business goals. As your business evolves, so should your insurance policies. Regularly reviewing and adjusting these policies is essential to ensure they continue to meet your organization's needs.

Ready to unlock the power of insurance to build and protect your wealth?

Contact me today with any questions or to discuss how insurance can help you achieve your financial goals.

Pascale Hansen is the Founder, CEO, and Financial Strategist at Zada.

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