Shared ownership - critical illness insurance

Shared ownership works when two or more parties agree to share a single asset. This way, each party pays only for the benefits they want.

Shared ownership using critical illness insurance allows a business to protect itself against financial hardship should a key employee be diagnosed with and survive a covered critical illness.

The strategy also provides the employee with an opportunity to participate in the benefits of a critical illness insurance policy.

This comprehensive set of tools will help you understand, illustrate and present this strategy.

Who to consider 

  • Need for corporate-owned CI insurance
    • Key person protection
    • Fund buy-sell agreement
  • Key employee or owner-manager
  • Ages 30 - 60

Material for your client

Education and training

Tools

  • Sample agreement