Life Insurance Consultant
As we approach the end of tax season, many business owners are evaluating financials and the state of their business. Now is a great time to discuss the unique planning opportunities for business owners as they relate to Life Insurance, Disability Insurance, and Long-Term Care Insurance. Here are some areas to discuss with your business owner clients:
Key person life insurance: Review the key/specialized members of the operation and ask about the financial impact on the business if something were to happen to those key employees.
Buy/Sell Life Insurance: How do the business owners most effectively sell their shares of the company to others when they are ready to retire, and/or what happens to their shares if they were to pass away?
Executive Benefit Life Insurance: If the business has high performing individuals who they want to reward and retain, offering life insurance as an additional compensation benefit is a great option.
Disability Overhead Expense: If the business owner is unable to work, will their fixed overhead expenses still be covered? There are disability policies designed to cover monthly expenses if the owner is unable to work.
Long-Term Care Insurance: A portion or all of LTC premiums paid can be deducted by businesses, and classes can be created to cover only specific employees. Benefits are still tax-free to insureds, and policies can be completely paid-up so the executives / key people can retire knowing the policies will always be in place for them.
These are just a few of the concepts available to today’s businesses to help provide a robust benefit package to their employees and protect the business interests. Contact the Experts at Wholehan Marketing to discuss how we can help you deploy these concepts with your business clients!