If you are a shareholder of an incorporated business and considering life insurance, you may have wondered “Should my life insurance policy be personally owned, or through my corporation?”  Unfortunately, the only true answer to this question is “it depends”.  Unless specifically restricted, all individual life insurance policies can be personally owned or corporately owned and the correct choice for you will depend on the following factors: What is the purpose of the insurance? Who will ultimately receive the proceeds of the insurance? How quickly will the funds be required after death? Are there creditor protection concerns within the company? Are there any liability concerns? Are there any family law concerns? Let’s explore some of the reasons a business would require life insurance: Key Employee Protection – companies will buy life insurance to protect the business in the event that there would be a financial loss if a key employee were to die or become disabled. Buy/Sell Funding – ...