Risk Management for Business

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Risk Management for Business

Businesses fail for a number of reasons including lack of planning, poor management, inadequate funds, downturns in the economy, debt overload, etc. Life Insurance and Disability Insurance provide cost-effective risk management solutions for many situations that could threaten a business, such as the loss of an owner or a key employee.

Life Insurance


  • Buy-Sell Agreements

    Life Insurance is used in buy-sell agreements to allow the surviving business partner to buy the deceased owner’s share of the business.


  • Succession Planning

    Life Insurance can be used to ensure fair treatment of family members and to pass control in the business.


  • Key Person Insurance


    Key Person Insurance is purchased by an employer for a key employee. If the key person were to die, a Life Insurance benefit provides the funds to compensate for their loss (ex. loss of sales) or for the cost of recruiting, hiring and training a replacement.

Living Benefits Insurance


  • Disability Insurance

    Disability Income - Disability Insurance provides you with a regular income if you are not able to work due to sickness or injury.


    Overhead Business Expenses

     Disability Insurance can help to pay for the overhead costs of the business and ongoing business expenses such as office rental, loan payments and employee salaries.


    Disability Buy-Out Insurance

     Disability Buy-Out Insurance provides the funds for the agreement for the purchase of a disabled owner’s interest under a buy-sell agreement.


  • Critical Illness Insurance

    Critical Illness Insurance provides a lump sum benefit on a tax-free basis, 30 days after the diagnosis and survival of a critical illness (i.e. cancer, stroke, heart attack, and numerous other conditions).


    • Pay for overhead business expenses
    • Hire additional help for your business while you are away
    • Job or career retraining
    • Help fund a semi or early retirement
    • Help pay for the loss of a key person
    • Pay off business loans



  • “We have been working with Gerry McKay for over 20 years, when he first took care of our group RRSP needs. As time went on and we got to know him, we turned to him for more services, including our employee benefit plan.


    It is important to seek people you can trust and then to hold on to them. That is what we did with him and that is why we are still working with him today.


    The length of our relationship with him speaks for itself. Not only does he ensure that our employees are well taken care of and that they have the best benefit plan possible, he is also very responsive to our needs, ensuring that we understand and have clarity on all matters and that we have the most up to date information.


    There are many people who can provide us with an employee benefit plan, but what makes Gerry and the Cicone/McKay team stand out from the rest is their service.”

    Kate Wighton - Elan Data Makers

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For the business owner, the death, disability or illness of a shareholder or key person can be devastating to the business from a financial standpoint. Having a plan in place to deal with these types of situations, as well as having the appropriate amount of insurance means you're well prepared for the unexpected.



Contact Us Today

Email us at info@ciccone-mckay.com or call us: 604-688-5262

About Ciccone/Mckay

Ciccone/McKay Financial Group is an independent financial services firm with over 75 years of combined experience in the areas of risk management, wealth management and employee benefits.


We specialize in providing insurance and investment solutions for our clients, helping businesses, individuals and families grow, manage, protect and transfer their wealth.

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Contact Us

  • Ciccone/McKay Financial Group
    Suite 360 - 1095 West Pender Street
    Vancouver, British Columbia
    V6E 2M6