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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 exist to help meet your needs.

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 in financial management and succession planning:

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 a few of the following options:


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. Also find out how life insurance can help you create strategies to meet the short- and long-term financial goals of your business!

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.

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.

Consider a few of the following retirement planning options.


Annuities

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.

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.

CRN201903-208966