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BUSINESS INSURANCE PACKAGES
LIFE INSURANCE
LIFE INSURANCE
With established relationships with numerous carriers, we can put together a reliable and inexpensive life insurance policy that offers the highest level of protection for you. Get in touch to book a free estimate from one of our experienced consultants.
KEY PERSON INSURANCE
KEY PERSON LIFE INSURANCE
Life insurance is usually the cornerstone of a key person protection strategy. It provides an instantaneous injection of capital into the business when the key person dies. The company receives death benefits tax-free.
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Renewable term insurance is usually the most economical option over the short-term. However, there are situations in which a more permanent insurance solution should be considered. For example, when protection is expected to extend over a longer time frame, or there is a need to create a funded supplemental compensation structure for the insured person.
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If the parties intend to use life insurance policy values to provide retirement income for the insured person, care must be taken to ensure that the policy will not be deemed to be a retirement compensation arrangement. If it is, adverse tax consequences may apply. The parties should speak with their tax advisors if they want to use the policy to provide retirement income for the insured person.
GROUP INSURANCE
GROUP LIFE INSURANCE
Group life insurance as part of a benefit plan allows our clients to provide their plan members with the peace of mind knowing that their family and financial obligations will be met in the during an unforeseen misfortune.
By offering employer-sponsored life insurance as part of a group benefit plan and providing plan members with access to additional (optional) employee life insurance, our clients can help ensure that their employees hold the right amount of Life Insurance to meet their specific and unique financial obligations.
BUY-SELL AGREEMENT
BUY-SELL POLICY
With the demise or critical sickness of an owner/partner/shareholder, the harmony of the company is put into jeopardy.
The work done by the missing person becomes work for remaining healthy partners. This causes a loss of income and resources, uncertainty for the stake holders and undue stress amongst the partners and surviving family heirs. If the surviving family is not aware of the business and can not bear the load due to the loss of their family member, the other partners, over a period of time, start to feel the load heavily and can cause bigger setbacks in the finance, health and growth of the company.
BUSINESS LOAN PROTECTION
INCOME PROTECTION
Credit Insurance provides income protection for your mortgage, personal loans, lines of credit and even rent. Credit Insurance can be purchased from a bank or from an individual insurance provider to save up to $5,000 in premium payments.
BUSINESS CONTINUATION PLANNING
BUSINESS CONTINUATION PLANNING
Many business owners rely on their company to provide family income, personal financial security and a legacy for the next generation.
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Business continuation planning considers the events that could jeopardize the viability of the business and offers strategies to protect against these eventualities. Such risks include death, disability or critical illness of a key employee or shareholder.
BUSINESS SUCCESSION PLANNING
BUSINESS SUCCESSION PLANNING
Business succession planning is a comprehensive process designed to assist the business owner in planning for the eventual transition out of business management and the transfer of business ownership upon retirement.
ESTATE PLANNING
ESTATE PLANNING PERSONAL OR BUSINESS INSURANCE
Insurance coverage for you and your business, both during your lifetime and upon your death, will form an important part of your estate plan. Life insurance guarantees tax-free cash at exactly the time it's most needed to:
protect your business against loss caused by the death or disability of you or a key employee
fund a buy-sell agreement
create or equalize a legacy for family members
cover the anticipated capital gains taxes that will arise upon your death
fund charitable giving, either by donating an insurance policy on your life to the charity or by designating the charity as a beneficiary of a policy you own
Other forms of insurance, such as disability insurance, critical illness insurance and long term care insurance, should also considered.