Business Owners

We have several options for business owners to help them grow and protect their companies:

Key-Person Insurance is a life insurance policy that a company purchases on the life of an owner, a top executive, or another individual considered critical to the business.

Buy-Sell Agreement is a contract that stipulates how a partner’s share in a business is to be transferred if the partner were to die, leave the business, or become disabled and unable to carry out work obligations. These are important because they protect the business’ shares from being sold to another person without the other partner’s or partners’ consent.

IULs can help businesses expand and grow their business by providing tax-free loan options that do not need to be paid back. IULs can also be used to pay out executive bonuses.

Retirement options for business owners that are protected from market loss, while getting all of the market gains, and there is no limit to the contribution amount. All of this while being tax-free.

We also have several options to help businesses attract and retain employees:

Simplified Employee Pensions allow businesses to contribute to traditional IRAs for their employees. SEPs are easy to set up, there are no filing requirements, low admin costs, and the annual contributions are flexible. With SEPs, only the business can make tax-deductible contributions.

Simple IRA is an account that is available to small businesses. Employees and employers are allowed to make tax-deductible contributions to these retirement accounts.

IULs are taken out on an employee by the business. The business makes contributions and the employee is covered with permanent life insurance. The cash that grows inside of an IUL can be used for executive bonuses and other incentives for the employee and is deductible for the business. When the employee leaves the company, the company can then transfer the IUL to the employee and the employee would then have a tax-free retirement account that is protected from market loss while being covered with living benefits.

Contact us to learn more.