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Hello

Planning with your business in mind

 

Many business owners rely on their company to provide family income,  personal financial security and a legacy for the next generation.

Business planning

considers  the events that could jeopardize the viability of the business and  offers strategies to protect against these eventualities. Such risks  include death, dis

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Affordable Health Insurance Plans

Buy - Sell agreements

Shared ownership - critical illness insurance

Shared ownership - critical illness insurance

Shared ownership - critical illness insurance

Shared ownership - critical illness insurance

Shared ownership - critical illness insurance

 

hared ownership works when two or more parties agree to share a  single asset. This way, each party pays only for the benefits they want.

Shared ownership using critical illness insurance allows a business  to protect itself against financial hardship should a key employee be  diagnosed with and survive a covered critical illness.

The strategy also provides the employee with an opportunity to  participate in the benefits of a critical illness insurance policy.

Group Health Insurance

Shared ownership - critical illness insurance

Shared ownership - life insurance

 

Attracting and retaining key employees in a competitive marketplace  is an important strategic issue for many businesses. Providing  innovative employee benefit packages and deferred compensation plans is  one of the ways to reward and retain these key individuals.

Executive Benefit Planning is the process of uncovering these needs, and developing effective solutions

Shared ownership - life insurance

Shared ownership - life insurance

Shared ownership - life insurance

 Corporations, key employees and families can benefit from sharing  ownership of a life policy. In return for sharing the ownership, each  party to the agreement pays only for the benefits of interest to them. 

Key person protection

Shared ownership - life insurance

Business Succession Planning

Take care of your eyes and save money on eyeglasses, contact lenses, and other vision-related expenses with our vision insurance plans.

Business Succession Planning

Shared ownership - life insurance

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.

Business succession addresses all eventualities, including the possibility of death or disability of an owner.

Shared ownership

Shared ownership - critical illness insurance

 

Who to consider 

  • Need for corporate-owned CI insurance
    • Key person protection
    • Fund buy-sell agreement
  • Key employee or owner-manager
  • Ages 30 - 60
  • <ore Information go to forms.

Group Health Insurance

Provide your employees with comprehensive health insurance coverage through our group health insurance plans. Choose from a variety of options and save money on your healthcare costs.

Shared ownership - life insurance

 Typical Scenario

 

Age 40+ in a business scenario

Age 18+ in a family scenario

Interested in increasing personal retirement savings on a tax-deferred basis

Wants additional life insurance to protect the business against the loss of a key person

Family scenario: Child or grandchild needs additional life insurance  while parent or grandparent is interested in helping them build up their  savings for the future


Key Person Protection

  

A business continuation strategy using life and critical illness insurance

Meet Owner. This person owns Product Co, a manufacturing  corporation that owes much of its success to the efforts of general  manager,  As a key person in the company, The GM  (age 45) has  established relationships with clients, suppliers and the bank. He is  largely responsible for the company’s rapid growth. If Product Co were to  lose the GM the company could suffer lost revenue plus the costs  associated with finding a replacement and getting back on track.

   

After speaking with his advisors, the Owner realizes that the loss of  the GM’s expertise could mean a loss of about $500,000 due to:

  • Reduced profit from lost revenue and potentially increased costs –  a loss of confidence might cause suppliers to restrict credit or demand  cash payments. Uncertainty may cause the bank to call loans or charge  higher interest rates on the remaining debt.
  • Additional costs to find a replacement general manager – including recruiting expenses and above-market compensation.

If the business can’t absorb these expenses, its value could be  seriously reduced and its very existence may be threatened. The business needs a  financial strategy to protect against these risks.

 Key person protection uses life and critical illness insurance policies  to help you protect your business from the costs that result from death  or critical illness of a key person. 

Business Succession Planning

  See Forms Section


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