A smiling couple


It’s your business. You’ve worked hard to build it. Let us work hard to protect it!




In a sole proprietorship

The sole proprietor is the business.

  • Often the business dies too and the family’s source of income disappears.
  • The estate is responsible for all business liabilities. The family may find their personal savings depleted to cover business debts.
  • Creditors often press for immediate payment, forcing business assets to be sold at “bargain” prices. 
  • Even if the family has the ability, experience and desire to keep the business running, it could take time and in business, time is money.


In a partnership or corporation

Without a properly funded buy sell agreement in place, the surviving owners or shareholders are faced with:

  • Reorganizing the business to include the deceased owner’s heir, or buy out their share.
  • Using business earnings or selling business assets to fund the purchase of the deceased owner’s share in the business.
  • Given the uncertainty of the business’ future, banks may be hesitant to lend money, leaving surviving owners/ shareholders little choice but to dip into their personal savings.


Term life insurance from Equitable Life® can help protect your business and your family by making
funds available to pay off debts, fund buy sell agreements and keep the business running. Fund your business insurance needs today at a fraction of what it will cost to access those funds in the future. Total premiums payable for the insurance policy will vary depending on the date of death.


Term life insurance offers the flexibility to meet the needs of any business. It offers:

  • Affordable life insurance that provides immediate protection for your business.
  • Convertibility to permanent insurance as your business matures.
  • 10 and 20 year plan options with automatic renewals up to age 85.
  • A non-renewable plan with level premiums payable to the later of 30 years or age 65.


Tailor a plan to meet your specific business needs:

  • Combine multiple term coverages (term 10, 20 or 30/65) in a single life plan. Pay only one policy fee.
  • Add a critical illness insurance riderto provide  funds to help manage business and medical expenses so you can focus  on your
  • Options to purchase additional insurance as your business grows…no medical questions asked.
  • Peace of mind knowing your plan will continue even if a disability prevents you from paying your


Term life insurance can help you mitigate business risks by:

  • Providing cash to pay off business loans and debts.
  • Providing working capital to keep the business running without having to use personal savings.
  • Funding a buy sell agreement to ensure a smooth transition of the deceased owner’s interest in the business to the surviving owners.
  • Funding key person insurance to cover the costs to replace and retrain a key employee and minimize the disruption to the business.

Talk to your advisor today about Term life insurance for your business!


1Multiple lives are not available on business-owned policies. 2Provides a lump-sum benefit, following the diagnosis of one of the covered conditions, and a survival period of usually 30 days. See contract for full details. 3Guaranteed insurability option. Some restrictions apply. See policy contract for details. 4Disability waiver of premium rider. Some restrictions apply. See policy contract for details. 
While Equitable Life has made every effort to ensure the accuracy of the information presented here, the policy contract governs in all cases. The information in this pamphlet is not substitute for tax or legal advice. Please consult your tax or legal professional for independent advice with respect to your personal circumstances. ® Denotes a trademark of The Equitable Life Insurance Company of Canada.