Business Succession Planning
Comprehensive Risk Management for Executives Sep 8, 2008
Your career rise can create new risks for financial loss. A comprehensive risk management approach can fill gaps you never new existed. As your career grows, your compensation, assets and lifestyle often follow suit – and so has your risk exposure. Have your insurance relationships and policies kept pace? |
Successful Succession Planning Sep 8, 2008
Before you can choose a successor, you need to know what your business needs to succeed after your departure.Entrepreneurs often spend so much time building their business, they give little thought to how they’ll leave it and often get blind sided by the amount of time it takes to create and execute an effective succession plan. |
Business Overhead Expense Insurance Sep 5, 2008
Business overhead expense insurance is a type of disability insurance that's designed to protect your business if you become disabled. Specifically, it provides monthly payments to your business for a specified period of time so that your business can meet its routine expenses and remain open while you're disabled. Though you're the insured under the policy, the business is the owner and the beneficiary.
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Funding a Buy Sell Agreement with Disability Insurance Sep 5, 2008
You may have a great buy-sell agreement in place at the company where you are a partner or co-owner--one that clearly stipulates how much your family will be paid for your share of the business interest in the event of your death. It may also cover early retirement and the buyout terms under those circumstances. But what if you become disabled long before you are likely to die or retire? Insurance industry statistics show that the chance of you or one of your co-owners sustaining a long-term illness or injury (over one year) before age 65 is much greater than the odds of any one of you dying prematurely. Disability income insurance may provide a solution.
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Funding a Buy Sell Agreement with Life Insurance Sep 5, 2008
As a partner or co-owner (private shareholder) of a business, you've spent years building a valuable financial interest in your company. You may have considered setting up a buy-sell agreement to ensure your surviving family a smooth sale of your business interest and are looking into funding methods. One of the first methods you should consider is life insurance. The life insurance that funds your buy-sell agreement will create a sum of money at your death that will be used to pay your family or your estate the full value of your ownership interest.
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Key Employee Life and Disability Insurance Sep 5, 2008
You've got a great group working for you now, and business is good. You know that much of that success is due to one or two key people with both skills and personalities that are hard to match. Suppose they were injured and out of work for a while, or suppose they died? Would your business survive? Key employee life and disability insurance coverage can help make sure that it does. |
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