Products and Services for Corporations
The professionals in our Life and Disability practice specialize in implementing creative insurance solutions that enhance a company's operations, protect business owners whose personal and business wealth is intertwined, and help attract, retain and reward valuable employees.
Corporate funded and controlled planning tools
Business/corporate succession planning strategies
There is a variety of strategies available to protect the future financial security of your business should an unforeseen event require a change in ownership. We have first-hand experience with these strategies and are able to recommend those that will best suit the needs of your business. The most common method is:
- Buy/Sell funding strategies: life and disability insurance-funded programs to work in conjunction with a buy/sell agreement. The insurance provides immediate liquidity – cash to the business and/or surviving owners/shareholders – allowing for a smooth transition. Insurance funding can also guarantee economic security to the family and loved ones of the deceased owner.
We can design corporate-owned life and disability plans to protect the economic loss to the company that may occur in the event of the untimely death of the owner or other key executives. Plans may include:
- Corporate-owned life insurance to insure the lives of key executives. If a death occurs, the policy death benefit provides the company with the cash necessary to make the changes/adjustments required for business continuity.
- Corporate-owned life insurance on the life of the owner, to be used as collateral for corporate debt needs.
Corporate funded plans to attract, retain and reward executive talent
Supplemental life and disability plans to complement group benefit programs
Our corporate-funded plans are portable and are designed, where appropriate, to be layered on top of non-portable group benefit plans to maximize protection and wealth preservation.
- Executive-owned life and disability insurance plans
- Executive-owned long-term care plans
Executive bonus plans
Incentive plans designed to provide a benefit to key executives. The company funds this benefit as long as the executive is employed with the company. An important executive retention tool, these plans are 100% portable and the executive has 100% control and ownership of the policy.
- Corporate-funded/executive-owned life and disability insurance plans
- Corporate-funded/executive-owned long term care programs
Corporate-funded specialty executive benefit plans
- Jumbo life and disability policies to protect large incomes and honor specific contractual corporate arrangements with key executives
Life Settlements in the corporate environment
We provide options for the disposition of older, unwanted, corporate-owned cash value policies. Cashing in the policy may create a large taxable event for the company; whereas selling the policy to institutional buyers may provide a more attractive alternative.
