Every company has valuable assets and valuable people who need financial protection suited to their business needs.
At Banco Management Inc we provide services to large corporations and small businesses. These services range from Group Employee benefits , to funding for Buy Sell agreements and family business succession planning. We are here to help you achieve your corporate goals and objectives.
Sooner or later everyone wants to retire. But if you own a family business, retirement is not simply a matter of not working any more. Besides ensuring that you have enough money to enjoy your retirement, the question of what happens to the business when you are no longer running it becomes paramount. Who is going to manage the business when you are no longer there? How will ownership be transferred? Will you business even carry on?
Ninety percent of all Businesses in Canada are family run. Surprisingly 70 percent of family run businesses never make it to the second generation and an Alarming 90% never see a third generation, despite the genuine desire by most business owners to see continuation in the family.
We can help you avoid common pitfall and overcome these odds by careful planning.
Protecting your business is an essential part of preserving your estate. When an active shareholder in a business can no longer participate in the business, it's important that the other shareholders have a plan in place to continue the business. A Buy-Sell agreement ensures that money is available to buy a deceased partner's share of the business.
Key person life insurance protects a business from the untimely death (or disability) of a key member of the business. In the case of many home-based businesses, the entire company is one person. Key person life insurance protects the business, and the stakeholders of the business, from the loss of these key individuals.