Zlcvancouver

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Coronavirus – Considerations for Employees

Zlcvancouver25 Aug, 2020Health

Employees would be eligible for disability coverage if they are unable to work after contracting this virus or any other infectious disease, both under short and long term disability contracts. However, we note that coverage has historically not been available if an employee is able to work but has been quarantined due to exposure to an infectious disease.

Planning Tips to Consider During COVID-19

Zlcvancouver25 Aug, 2020Health

If you are looking at business succession, this could be an excellent time for a share freeze. A freeze exchanges common shares of a business for fixed value preferred shares. The planned successor(s) to the business would then subscribe for new common shares which effectively transfers the future growth on the business to them

Life Insurance Financing and the Great Wealth Transfer

Zlcvancouver25 Aug, 2020Health

At the time of death, Canadians are generally deemed to have disposed of and reacquired their assets at fair market value, and this deemed disposition has the effect of taxing accrued gains to prevent tax on these gains from being deferred indefinitely. For Canadian business owners, this often means that the wealth they accumulate within their corporations will lead to a hefty tax bill for their estates. Accordingly, they must consider how to fund the tax in the most efficient way possible.

Structured Settlements - ZLC Financial

Zlcvancouver27 Jul, 2020Business

A structured settlement is a means of paying or settling a claim for damages (usually against a casualty insurer) so that all amounts paid to the claimant in the future will be tax-free. The casualty insurer purchases a non-assignable, non-transferable, non-commutable annuity contract and irrevocably assigns the payments to the injured party.

COVID-19 Premium Relief – Have Insurers Done Enough?

Zlcvancouver27 Jul, 2020Business

Let�s give credit where credit is due. Insurers who provide employee benefits plans are not required to provide discounts on premiums (premium relief) for any reason, other than during the annual rate renewal process, but they did! The COVID-19 premium relief, now announced by all insurers, is welcomed news during a time when many employers are struggling to pay bills while maintaining benefits for employees and their families.

ZLC Foundation’s 35th Charity Golf Tournament Has Been Postponed to 2021

Zlcvancouver27 Jul, 2020Business

Given the ongoing uncertainties presented by the COVID-19 pandemic, we made the difficult decision to postpone ZLC Foundation�s 35th Annual Charity Golf Tournament to July 12th, 2021. The safety of our players, vendors, speakers, supporters, and staff volunteers is our top priority. Additionally, it�s clear that we wouldn�t be able to deliver the first-class experience you�ve come to expect with the mandated protocols and limitations outside our control.

The Emergence of Spending Accounts for Employees

Zlcvancouver27 Jul, 2020Business

It is hard to believe that flexible benefits plans have been around for over 30 years but they have not increased significantly in prevalence. How could that be when employees have consistently indicated that they are looking for more choice and flexibility in their employee benefits plans? As well, this trend is hard to understand given that employers have also been looking to derive more value from their employee benefits plans in order to better attract and retain high quality employees.