Wescan Insurance Brokers is an independent brokerage based in Calgary, Alberta. We specialize in Employee Benefits for small/ medium businesses & Group Benefits in Calgary AB. The challenge today for the Employer or, the Plan Sponsor in the small/medium business segment of the market is the escalating cost and reducing benefits for their Employees.
Wescan Insurance Brokers has the knowledge and experience in implementing various strategies, which can be applied to your current plan , so that we make it more cost-effective and sustainable.
Why do you need Employee Benefits?
Providing a comprehensive benefits plan helps attract and retain skilled employees in today’s competitive market. As workforces become more diverse and multi-generational, employers must offer flexible, modern benefits—those who rely on limited, traditional plans risk falling behind in recruiting and retention.
The insurance broker in Calgary Here are just a few of the advantages of offering benefits to your employees:
As an Employer / Plan sponsor, if your Employees can feel a sense of pride and satisfaction with their Benefits package that is a major accomplishment of providing Employee Benefits, including comprehensive group benefits plans in Calgary, and we offer strategies and processes to achieve the end goal of making your Employees feel that sense of pride and satisfaction working for you.
Group Insurance Benefits Plans in Calgary
Customized group insurance solutions for Calgary businesses that help attract and retain talent, manage rising benefit costs, and provide employees with meaningful financial security.
Group Benefits
Customized health and dental plans that help employers attract talent, manage costs, and support employee well-being.
Living Benefits
Protection that supports employees during life’s unexpected moments, including disability, critical illness, and income replacement coverage.
Group Retirement Savings
Flexible retirement savings solutions that help employees plan confidently for the future while supporting long-term retention.
Advanced Corporate Life Insurance Planning Solutions
Corporate-owned life insurance on an owner-manager is a powerful planning strategy for Canadian-Controlled Private Corporations. Policy proceeds can be used to fund a shareholder buyout, cover estate tax liabilities, or offset financial losses resulting from the death of a key employee. It can also strengthen a corporation’s position when securing bank financing.
This approach offers significant tax advantages, including tax-free receipt of the death benefit by the corporation and credits to the Capital Dividend Account. Premiums can be funded using tax-deferred corporate dollars, while businesses in Calgary and across Alberta can also leverage this strategy as part of a broader, well-structured group benefits plan.
Using Corporate Funds to Fund Life Insurance Premiums
One of the key advantages of corporate-owned life insurance is the favourable tax treatment available to holding or operating companies, which are generally taxed at lower rates than individuals. Instead of paying out earnings as taxable dividends, businesses can retain and invest those tax-deferred funds or use them to pay life insurance premiums, allowing the policy’s value to grow on a tax-exempt basis.
When the shareholder passes away, the corporation receives the death benefit tax-free, with most or all of the proceeds credited to the Capital Dividend Account. These amounts can then be distributed to beneficiaries tax-free, helping eliminate the additional tax that would otherwise apply if the funds had been withdrawn as dividends.
Build Your Own Plan (BYOP)
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What Our Clients Say About Us
Real stories from businesses and individuals who trust us for expert guidance, reliable coverage, and lasting peace of mind.
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