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Business Life Insurance from Term Life America
More term companies
equals the best opportunity to obtain the lowest term quote!
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For the serious shopper who would like a seasoned
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"how term life insurance
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insurance" will be explained on this page.
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Business Life Insurance can fund untimely events to key business
persons or owners that can cause critical financial disruptions
to the business. It can be used to fund the impact of a death.
The most common uses for Business Insurance are:
-Buy/Sell agreements funded with life insurance.
-Corporate stock redemption funded with life insurance.
-Key employee insurance
Overview
The Most Important Types of Arrangements Are:
Transfer Coverage "a will for your business"
Owners can execute a buy-sell agreement and fund the agreement with life insurance. A buy-sell agreement is an arrangement for a business to continue in the event of the owner's death, disability, retirement, or early withdrawal from service. Life insurance, through the death benefit or cash values (if a permanent policy is used), can provide the funds for the surviving or new owner to purchase the interests.
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Business Buy-Sell
Partnership Buy-Sell
Corporate Buy-Sell
Debt Coverage
Coverage can provide funds to payoff debts in the event of the owner's premature death. The policy is taken out on the life of the owner when the debt is first incurred. Other policies can be obtained for disability.
Business Debt Coverage
Key Employee Protection Plans
The loss of a key employee can severely impact the financial health of a business. Lost sales; costs of recruiting, hiring and training a replacement; costs to continue the salary to the employee or the family; or loss of credit are examples. Deteriorating financial health can lead to the loss of customers and harm a good reputation. Life insurance can provide funds to temporarily replace lost profits, strengthen the business's working capital, reassuring other employees, creditors, and investors about the continuity of the business, and provide funds to recruit and train a suitable replacement.
Key Employee
Non-Qualified Deferred Compensation (NQDC) Plans
NQDC plans funded with life insurance can help attract and retain key employees. Such plans are contracts between employers and key employees to pay future compensation for work performed now. Most NQDC
plans provide for a stream of payments to be made to the
employee following retirement. The payments typically
come from the cash value of a permanent life policy. The
employee is not taxed on the money until it is received.
Non-Qualified Deferred Comp
Executive Bonus Plans
With this plan, the employer gives a bonus to a key employee who then pays taxes on the money and uses the remainder to purchase a life insurance policy. The employee has all ownership rights in the policy, such as access to the cash value and the power to designate beneficiaries, while the employer receives a tax deduction for the disbursement. The loss of a key employee can severely impact the
financial health of a business. Lost sales; costs of
recruiting, hiring and training a replacement; costs to
continue the salary to the employee or the family; or
loss of credit are examples. Deteriorating financial
health can lead to the loss of customers and harm a good
reputation.
Employer Executive Bonus
Supplemental Executive Retirement Plans (SERPs)
SERPs provide key employees with supplemental retirement income generated by the cash value of a life insurance policy. Qualified defined contribution plans are limited to considering only the first $200,000 of compensation when arranging retirement benefits for highly compensated employees. SERPs layer in on top of such defined contribution plans, allowing for the key employees to have a total retirement plan package.
Supplemental Executive Retirement |
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Related:
We have a highly trained and licensed professional staff. We specialize in all aspects of this discipline.
Included are, Term, Universal, and Permanent Policies, as well
as Final Expense. We guide our clients on issues involving
Personal Family Protection, Estate Planning and Estate Conservation, Business Planning
to include, Buy Sell Agreements, Deferred Compensation, and Executive Compensation. We offer spreadsheets
for
Term Life Insurance Quotes from Top Rated Companies.
We help you decide what type of policy is best for your goals and objectives.
Companies offer 5, 10, 15, 20, 25 or 30 year policies that can include a return of premium plan options. Some plans offer no exam underwriting for your convenience.
We provide consumers with helpful information, find the right life companies, and gives them the opportunity to receive free instant quotes.
The content contained on this insurance website is for informational purposes only. It
is intended for consumers who are shopping and wanting to learn more. We do not endorse any particular carriers. We
work for you and simply provide factual
insurance information. We let you decide if you want to speak with a professional agent to help with your needs. Premium rates displayed on this website are for informational purposes only. Actual rates
are based on many factors one of which is the applicants health.
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