Shared Ownership CI is a strategic collaboration between a corporation and a shareholder or key employee. Together, they purchase a CI Protect Plus policy, creating a formal agreement that outlines ownership, rights, obligations, and potential returns of premiums.

This strategy caters to small business owners and key employees seeking critical illness protection. It serves as a financial safety net for day-to-day business expenses, additional wages for new hires, and coverage for health and living expenses in the event of a covered critical illness.

The formal agreement details the rights, obligations, and benefits for each party involved. It allocates the cost of the policy, outlines scenarios for surrender and change of ownership, and ensures clarity in roles and responsibilities.

Small business owners can secure funding for daily operations, allocate additional wages for new hires, and maintain productivity with the financial safety net provided by the Shared Ownership CI strategy.

Key employees gain a financial safety net, covering health and living expenses during covered critical illnesses. The strategy ensures mutual benefit for all parties involved.

Yes, before embarking on this strategy, it is prudent for all interested parties to seek independent legal and tax advice. This ensures a secure and well-informed approach to protecting your future with Specialized Benefits.