Protect and Strengthen Your Business with Our Comprehensive Insurance Solutions

At ClearPeak, we understand that your business is more than just a source of income—it’s your passion, your livelihood, and your legacy. That’s why we offer a range of business insurance products designed to protect your enterprise from unforeseen challenges and ensure its continued success. Explore our solutions below.

Key-Person Insurance

Safeguard Your Business’s Future

Key-Person Insurance helps your business navigate the loss, disability, or illness of an invaluable team member. If a key employee is unable to work, this coverage can:

  • Recruit, Hire, and Train Replacements: Ensure you have the resources to find and onboard new talent.
  • Manage Financial Obligations: Pay off debt and manage creditors effectively.
  • Reassure Stakeholders: Ease lenders’ concerns and reassure customers, employees, and investors of your business’s stability.

Buy-Sell Insurance

Secure Your Business Ownership

For companies with multiple owners, Buy-Sell Insurance is crucial. It protects the financial interests of each owner and their families in case of death or disability. Key features include:

  • Shareholder Agreement Funding: Ensures funds are available to purchase a deceased or disabled owner’s shares.
  • Business Continuity: Keeps your business running smoothly during ownership transitions.

Business Overhead Expense (BOE) Insurance

Keep Your Business Running Smoothly

BOE Insurance helps cover your business’s ongoing expenses if you or a co-worker become disabled. This coverage supports:

  • Operational Costs: Rent, property taxes, and utilities.
  • Employee Salaries: Retain valuable employees and keep your business operational.

Wage Loss Replacement Plans (WLRP)

Protect Your Key Employees

WLRPs offer individual disability policies for key employees or management, providing:

  • Tax Benefits: Premiums are tax-deductible for the company and not taxable for the employee.
  • Cost Stability: Stabilizes costs and eliminates fluctuations associated with group insurance rates.
  • Enhanced Coverage: Stronger definitions compared to standard group insurance.

Shared Ownership Critical Illness Insurance

Collaborative Protection

This unique arrangement splits the cost and benefits of a critical illness policy between employer and employee:

  • Employer Benefits: Receives the critical illness benefit if the employee becomes ill.
  • Employee Benefits: Receives the return-of-premium benefit if no critical illness occurs.
  • Mutual Investment: A written agreement outlines the terms, ensuring clarity and mutual benefit.

Corporate Insured Retirement Plans (CIRP)

Optimize Your Corporate Wealth

CIRPs are tax-exempt life insurance strategies that reduce your corporation’s passive income exposure. Benefits include:

  • Tax Reduction: Lowers the amount of tax payable on passive income.
  • Financial Protection: Safeguards your corporation’s financial interests in case of death.
  • Retirement Income: Provides a tax-free income during retirement.

Estate Planning for Business Owners

Preserve Your Legacy

Business owners with private corporation shares face potential double or triple taxation upon death. Our estate planning solutions help:

  • Tax Mitigation: Use life insurance to reduce double taxation within the corporation.
  • Asset Preservation: Protect your hard-earned assets for future generations.

Ready to Protect Your Business?

Contact us today to learn more about our comprehensive business insurance solutions. At ClearPeak, we’re dedicated to ensuring your business thrives, no matter what the future holds.