Business Planning

You know what it takes to build a successful business. It takes vision, preparedness, skills and desire – not to mention a focused dedication to achieving your goals. If you are like most business owners, you’ve worked hard and made many sacrifices to grow your business. That’s why you should put just as much energy into protecting it as you did building it.

Ask yourself these important questions:

  • Do I have a plan for my business when I retire?
  • Is my business capable of continuing its success in the event of my or my partner’s untimely death or disability?
  • Is my family adequately protected if something were to happen to me?
  • Have I done everything I can to attract, retain and reward the key employees that are critical to my business?

If you answered “no” to any of these questions, you may want to consider implementing a formal business planning strategy. Proper planning can help you protect your business, attract and retain key employees, and help ensure that your business transfers in the manner in which you choose.

No business plan is complete without a financial strategy for the unexpected. Start by exploring all your protection options. Then develop a long-term strategy that can help protect the continuity of your business should you, a partner, or key employee decide to retire, leave the business, or unexpectedly dies or becomes disabled.

Most business owners spend the majority of their time working in their business instead of on their business. We can help ensure that the business protection needs that are critical to the long-term success of your business are taken care of.

Employee Benefits

In today’s highly competitive marketplace, it’s becoming increasingly difficult for business owners to attract and retain top talent. Salary is no longer the sole compensation driver. Employees are also looking at an employer’s overall benefits package and its potential to help address their real concerns of financially protecting their families in addition to adequately planning for retirement.

You probably already have a standard benefits package in place, one that includes medical and dental coverage, disability income insurance, and a retirement plan. However, your competitors more than likely offer a similar benefits package. These days, employees are looking for benefit plans above and beyond the standard packages that most employers already offer. These benefits often provide the primary incentive for key employees to join and remain loyal to your company.

Designing an attractive employee benefits package may seem expensive, but the tax considerations1 can help offset the overall cost, and its impact on current and prospective employees could be rewarding. Through our network of Financial Services Representatives, we can help you provide an attractive employee benefits package for the employees that are most valuable to the success of your company.

Consider a few of the following options for your employee benefits program.

Establishing individual retirement arrangements funded by annuities is easy for a small business. Offering this type of benefit may help you retain and motivate your company’s employees.

Disability Income Insurance
Provide employees with income protection that supplements your company’s group long term disability plan in the event of a disability.

Executive Benefit Programs
We offer solutions that are designed to assist in recruiting and retaining executives.

Executive Group Life Insurance
Gain a competitive edge by providing valuable life insurance benefits to your executives and senior professionals.

Long Term Care Insurance
Help retain your employees and enhance your company’s benefits while taking advantage of tax savings.

Retirement Plans
Offering your employees a retirement plan is a way to help them save for the future and is a great incentive as part of an employee benefits package.

1 The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. We are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.

Financial Management

Financial management is as much about managing operational risks as it is about managing business objectives. Whether you’re a fresh start-up or well-established enterprise, continued operational foresight can help ensure your success and your roadmap for the future. Thankfully, an array of insurance products exists to help meet your needs.

Consider a few of the following options for good financial management:

Disability Income Insurance 
Disability income insurance can help provide financial protection for both the owners and the company in the event of a disability.

Life Insurance
Find out how life insurance can help you create strategies to meet the short- and long-term financial goals of your business.

Protect Your Business

As a business owner, you know being prepared for anything is part of who you are. If one thing is certain today, it’s that you can’t be certain about what will happen tomorrow. You can, however, be certain that you’ve taken action to help protect yourself and your business from the unexpected.

Think about what would happen to your business if you, your business partner, or a key employee were to unexpectedly die or become too sick or injured to work. There’s no doubt that this would have a tremendous impact on your business and its continued success. But there’s good news: this is something you can plan for.

Having the foresight to protect your business against the loss of an owner or an essential employee—perhaps the company’s most valuable asset—can mean the difference between business as usual or closing up shop. Just as you would insure your business property, you should also consider insuring the people who have the biggest impact on your company’s success. We can help with business planning strategies that are designed to protect your business from the unexpected and help ensure the business you’ve worked so hard to build withstands the test of time.

Consider a few of the following options to help protect your business:

Disability Income Insurance
Most likely, your company has already taken the appropriate steps to protect the business in the event of the death of an owner or partner. But have you protected the business in the event of a more common scenario – an owner’s or partner’s long-term disability?

Life Insurance
Learn how life insurance can help you protect your business from the unexpected death of a key employee.

Long Term Care Insurance
Having long term care insurance is part of smart business planning and can help protect your business and family if a long term care need should arise.

Retirement Planning

In today’s highly-competitive marketplace, it is becoming increasingly difficult to attract and retain top talent. Salary is no longer the sole compensation driver. Employees are also looking at an employer’s overall benefits package and its potential to help protect their families and adequately prepare them for retirement. These concerns are heightened by ever-changing tax laws, pension plan uncertainties, and Social Security shortfalls. As a business owner, you can offer insurance and retirement benefits that can make a difference for both your executives and your business.1

Providing for your employees’ retirement can create a loyal and dedicated community around your business. A variety of retirement-planning products exist to provide the benefits that support your employees’ commitment to your business.

Consider a few of the following retirement planning options.

Establishing individual retirement arrangements funded by annuities is easy for small business owners. It may also help you and your employees achieve your retirement savings objectives.

Disability Income Insurance
Disability income insurance can replace a portion of an employee’s earnings in the event of a disability. It can also help protect an employee’s ability to plan and save for retirement.

Life Insurance
Learn how life insurance can supplement2 your employees’ retirement planning strategy to help align with the goals of their golden years.

Long Term Care Insurance
Long term care insurance helps protect an employee’s assets and retirement plan, and is part of a complete financial strategy.

Retirement Plans
Reward and attract talent to your company by helping them prepare for retirement. A wide range of group retirement products and services can help you maintain a long-term retirement strategy.

1 There may be implications under the Employment Retirement Income Security Act (ERISA) depending on how certain types of insurance policies are made available to employees and whether such an arrangement constitutes an “employee benefit plan” under ERISA. Employers should consult their own tax and legal advisors for further information on potential ERISA implications.

2 Distributions under the policy (including cash dividends and partial/full surrenders) are not subject to taxation up to the amount paid into the policy (the cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to a 10% tax penalty. Access to cash values through borrowing or partial surrenders can reduce the policy’s cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.

Succession Planning

The death or disability of an owner is one of the greatest threats to a business. Not only can it severely impact the day-to-day operation of the business, but it can raise all sorts of business succession and estate tax problems – proper succession planning can help.

Succession planning affects everyone who has an interest in the business—business partners, family members, and key employees. It is critical that you have meaningful discussions about often overlooked issues, such as who the ideal successor should be, what is the value of the business, and what is the timetable for transition. No matter what event occurs, either expected or unexpected, we can help you develop a succession plan that can help ensure a smooth transition according to your vision for the business’ future.

Consider the following options for succession planning:

Disability Income Insurance
A disability Buy-Sell policy is a great way to help ensure the orderly succession of a multi-owner business in the event of a long-term disability.

Life Insurance
Business succession plans using life insurance can help ensure that your business is protected.

Contact one of our Financial Consultants for More Information