Business insurance can provide creative and cost-effective solutions for business succession, risk prevention, and executive compensation. We specialize in three types of business insurance:
- Key Person Insurance provides a popular means for protecting the company in the event of an executive's or partner's death. The benefit gives the company time to hire a suitable replacement.
- Buy/Sell Policies are designed to give surviving partners the funding necessary to buy out a deceased individual's share in the company.
- Deferred Compensation Packages enable companies to offer a significantly larger retirement benefit to key persons. These plans offer cost-effective retirement benefits beyond those of a typical pension or 401(k) plan and pay a benefit when the individual retires or leaves the company.
Since every business is different, there is no one-size-fits-all insurance solution. It makes sense to create a customized plan and then review it regularly, at least once a year, to make sure the policies are providing the right coverage for your company's changing needs. Contact us today to learn more about how your business may benefit from insurance.