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Succession Planning

Succession Planning


There is no greater test of a business than the loss of an owner or partner. How an organization handles this crucial transition will often shape its entire future. We can help you make sure that your business is ready to thrive, even in the face of the most fundamental and unexpected changes.

Life Insurance for Business


Life insurance can have many uses for a business owner, from rewarding key employees to protecting the financial security of your organization. Choosing the right insurance options can be one of the most important decisions you will make in building and operating a successful business.

What type of life insurance is right for your organization? Here are the facts:

There are many different types of life insurance, each with its own unique purpose and benefits. Some of the most important types are:

  • Executive group life insurance can help an employer cover their executives and other key employees. These plans are designed to reward your most important team members, which can lead to an increased sense of loyalty from the employees that matter the most to your organization.
  • Corporate-owned life insurance can be used to help insure the lives of employees who are essential to the operation of a business. It can also be used as a way to fund retirement benefits.
  • Term insurance can be a cost-effective way to cover your employees’ immediate insurance needs, while giving them the opportunity to convert to a permanent insurance plan in the future.
  • Whole life insurance offers the most guarantees of any kind of life insurance. The premiums will never increase. The death benefit will never go down. In addition, whole life insurance policies have a guaranteed cash value, which can be borrowed against. This living benefit can be used as emergency fund or to supplement retirement income.
  • Universal life insurance provides a guaranteed death benefit while also offering flexibility with premiums. The policy holder can vary the amount paid each month, as long there is enough money in the account to pay for certain minimum insurance and maintenance charges. Depending on how much money accumulates in the account, the policy may also accumulate tax-deferred cash value.
  • Variable life insurance allows a high degree of flexibility with premiums, including the option to direct a portion of premium payments to a separate account, which can serve an investment vehicle. This can allow for the possibility of greater growth in cash value, but it can also entail a greater risk.

Disability Income Insurance for Businesses


Disability income insurance can help make sure a person is taken care of in the event that they become unable to work due to serious injury or illness. A business owner can use this type of insurance to attract and keep the best talent, or to protect the business against unforeseen circumstances, such as a crucial employee’s injury or illness.

Is disability income insurance right for your company? Here are the facts:

  • Offering disability income insurance to your employees can be a great way to show them how much you value them. There are several types of plans you may want to consider:
    • Plans that cover your employees in the event that they become unable to work. (Long-Term Disability Group Plans)
    • Plans that cover the salaries of key employees, supplementing your existing group plans. (Executive Carve-Out Plans)
    • Plans that cover employee retirement benefits. (RetireGuard)
  • Disability income insurance can also be used to protect your business in the event that you or another key employee becomes unable to work due to serious injury or illness. Plans that fall into this category may include:
    • Plans that cover your income during an injury or illness. (Individual Disability Income Protection Plans)
    • Plans that ensure your businesses overhead is covered if the business owner becomes disabled. (Business Overhead Expense Plans)
    • Plans that cover the purchase of an owner’s share of the company in the event that an injury or illness forces them to retire. (Buy-Sell Plans)
    • Plans that make sure any wages paid to sick or injured employees can be treated as business expenses. (Qualified Sick Pay Plans)


Disability income insurance can be the cornerstone to building and protecting a great business.

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