The type of insurance you buy should be based on your needs, so that’s why my team and I work with you to find the best option for you.
Whether you have business partner(s) or are a Sole Proprietor, it is vital that your business runs smoothly no matter what health concerns you have.
Executive Insurance protects key employers/employees to minimize disruptions with your business.
If you have a partner in your business chances are you have a buy/sell agreement. Is it funded? With a Buy/Sell Agreement, if something happens to your partner, you would be working with your ex-partner’s spouse. Do they have the expertise to help you run the business? Do you have the cash flow to buy them out? You would with Buy/Sell insurance.The best part is that the insurance policy could be owned by the company so the tax free payout flows through the capital dividends account, tax free to the surviving partner
Key Person Insurance is protection on the key person in a business. In a small business, this is usually the owner, the founders or perhaps a key employee or two. These are the people who are crucial to a business–the ones whose absence would sink the company.
A company purchases an insurance policy on its key employee(s), pays the premiums and is the beneficiary of the policy. If that person unexpectedly gets sick or dies, the company receives the insurance payoff. The purpose of key person insurance is to help the company survive the blow of losing the person who is a key member to make the business work.
The company uses the insurance proceeds for expenses until it can find a replacement person, or, if necessary, pay off debts, distribute money to investors, pay severance to employees and close the business down in an orderly manner. In a tragic situation, key person insurance gives the company some options other than immediate bankruptcy.
Taking the lessons I learned in 20+ years of my career in manufacturing, I now exercise my financial
expertise as an Insurance Broker dedicated to helping my clients
I worked as a District Treasurer for the 2014-2015 terms while Allan served as a District Governor for Toastmaster District 60. Allan did a fabulous job to lead 4000+ members’ organization. Under his servant leadership style, our membership has grown tremendously. He demonstrated some of great characteristics during our journey together: generosity, patience, and collaboration. He has been an inspiration for me. Every day I applied his servant leadership style into my own business. I am sure all these great qualities he has will serve him well in whatever he does.
Trust is earned not by what we say but by what we do”. Allan Madonik is one of those rare leaders that quietly follows up any words with actions. While working with Allan during his tenure as Toastmasters International District 60 Director I witnessed how he successfully led a district of over 5,000 members. His strengths include his ability to take complex concepts and simplify them and his unceasing commitment to the people he serves. I feel truly honoured to know him as a fellow Toastmaster and a friend.
As a Club President I find you were driven and goal oriented. You give your best and expect the best, hence with you there is no room for complacency. You enjoy going the extra mile to assist others and are very respectful of people's time. As a person I find you humble, passionate about your interests, and genuinely interested other people's successes.
Allan and I met with a phone call several years ago. His phone call was one that stands out in my memory for many reasons. It was an extremely courteous call that made me feel like I knew him my whole life.. When I hung up the phone, I had a feeling that I would be seeing him again, and that we might even become friends or colleagues. Allan has a calm and accepting demeanour that makes being his colleague a privilege. He has a special way of approaching things that make you listen. And he never pressures you into anything. I am happy I picked up the phone several years ago. It was the beginning of a long lasting friendship that I am happy was formed.
I have known Allan Madonik for several years now and I would recommend him without any reservation. He is a family man that has the utmost integrity, an incredible work ethic, a servant's heart and a persistence seldom seen. He is only interested in making everything he touches better. He is always striving to bring value to everything he does. He gets it. I am proud to be associated with Allan and I look forward to having him work with me and my family for years to come.
I have known and worked with Allan Madonik as my financial advisor for several years and can say I am very impressed with his breadth of knowledge. More significantly though, is his integrity. I believe Allan genuinely listens and takes his clients' needs into consideration and sincerely recommends approaches that are in their best interests. His warm sense of humour and succinct newsletters are a nice bonus for his clients!
I wanted to thank you for setting me up for success! I feel much better now that I know my family will be safe if I am sick or worse! I will be in touch with you to discuss my investments as I am not happy dealing with my bank!
Thanks for helping me with my investments. I appreciate you coming to my work to review my information and then again for the recommendation. I look forward to consistent growth in the next several years!
I was frustrated with my advisor and I knew I had to make a change. Allan approached me and asked if I wanted to sit down and review my financial plan. He was able to come up with something that was simple and easy to follow. He also greatly reduced the premiums I paid but made sure the amount of coverage stayed the same! I am happy I started working with Allan and look forward to doing so in the future.
I have known Allan for several years and have always found him to be a kind and sincere gentleman. I was looking for guidance on protection for my family. Allan spent a lot of time both on the phone and in person to ensure he understood my situation. He put together an excellent proposal which I adopted immediately. Thank you Allan for your patience and guidance!