Running a company is a challenge. Business life insurance enables smooth operations after the death of a business owner or key employee. As an independent insurance agency, we offer many insurance companies providing key man insurance, buy sell agreement insurance, and life insurance for business owners. We also offer tools and resources for you to effectively manage your business. We not only help you plan for succession, but for success!
Look for a sales executive in your region. If out of state, contact any.
Executive Bonus plans provide ways for employers to reward key executives by helping them fund insurance products in a cost-effective, deductible manner that presents the executive with alternatives to help meet their financial goals. Some employers create restricted access to policy values, creating a “golden handcuff” benefit to help retain key executives.
Over one in four of today’s twenty-year-olds will become disabled before retirement. The largest financial asset most of us possess is our ability to earn an income. This is why it is important to safeguard it with disability income insurance. Many group disability income plans are capped and do not fully cover high wage earners. We can design a plan to help meet your business’s income protection needs.
The life insurance industry recently experienced a drop in investment returns, and interest rates are at historical lows. At the same time, a new generation of products is in the market which offer lower mortality charges, lower expenses, and lower cost guarantees. Let us review your existing policies today to ensure they are performing to their potential.
Long term care insurance can address many wealth protection needs. Traditional long term care policies are deductible to your business and new hybrid designs create a guaranteed asset that can be used for care or passed on to the people or organizations you care about most.
With proper planning you can protect the value of your assets from income and estate taxes. Several strategies can grow your estate and pass on a legacy to your loved ones. With an ever-changing tax code, it’s important to begin planning today.
Protect against the loss of a key employee with key person insurance.
Business owners aren’t the only one whose death would hurt day-to-day operations or the business’s long-term profitability. Key person life insurance protects the business against the loss of key employees, partners, or owners. It is simple to set up and easy to implement. Examples of these key people can include:
Key person insurance is purchased by the employer and protects the business from financial loss resulting from the death of a key employee. It also helps creditors, employees, and shareholders remain comfortable about the business’s long-term stability. Proceeds may be used to offset financial losses as well as recruit, hire, and train a replacement.
With key person insurance, the business receives death benefit proceeds free from income taxes. However, it does not receive a tax deduction for premiums paid because it has beneficial interest in the policy. Potential tax issues, such as alternative minimum tax, may arise under circumstances if the business is a “C” corporation.
Is Yours Funded?
A buy-sell agreement ensures your business continues after a major event, such as a business owner’s death or disability, and can be funded using buy-sell agreement insurance. Such events often come suddenly and create a crisis. But a well-planned buy-sell agreement, properly funded, ensures the business continues – employees retain jobs and clients receive service. It maintains the benefit of years of hard work, not allowing them to go to waste. A financially secure retirement and the orderly passage of the business can be planned today, using time to your advantage, through buy-sell agreement insurance.
Unless the funds to complete the buy-sell agreement are available when needed, the agreement may not be carried out. But funding a buy-sell agreement is easier than you’d expect and begins the minute the agreement is adopted, not when a crisis arises. Buy-sell agreement insurance funds such transitions for a fraction of the cost of other means. With proper funding you can:
Contact a buy-sell agreement insurance specialist.
You owe it to your business to review your current policies.
If you are like many companies, you purchased life insurance for your business’s benefit and then never gave it much thought afterward. But these business life insurance policies are important financial assets, whether they cover key employees, fund a buy-sell agreement, or act as a deferred compensation plan. Periodically review your policies to ensure they are providing the best value for your dollar.
Ensure your policies are performing the way you intend. Contact a business life insurance specialist today.
Anyone can be an order-taker. Bankers Insurance is different.
We don’t expect clients to be business life insurance experts. Take advantage of our experience. We can explain options and help you determine coverage that suits your needs.
As your insurance agent, we strive to know you. Only then can we suggest coverage that fits your specific business. We look for coverage gaps and offer protection. With us, you get the benefit of:
Each of our clients is assigned a specific insurance agent in our office and provided a phone number that rings on their desk. And each agent has a backup in case they are out for any reason. Though any one of our agents can help, nothing beats speaking with the person familiar with your account.
Bankers Insurance is local. Our agents live in the neighborhood. No one enjoys talking to a call center or exchanging email when in urgent need of service or if a claim arises.
We serve our clients with dignity and respect.
Want to pay for your business life insurance directly to the company? Monthly? By credit card? We can find a billing option that suits you.
Product and service are important, but with Bankers Insurance you also get low pricing. Our insurance companies compete for your business, resulting in low prices for you.
We primarily represent “A” rated insurance carriers, verified by AM Best. Our business life insurance products are designed to meet a variety of needs. We tailor insurance coverages to your business.
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