What if one of my key people gets sick or dies?
What kind of incentives can I offer to my employees?
What if one of my key people gets sick or dies?
Many business owners insure their physical assets from destruction. But how would your business cope if a key person died, became disabled or suffered a life-threatening illness?
Insurance coverage is a great way to fund future succession or business continuation plans. The unexpected loss of a key person, particularly one who is a driving force behind business operations, may create numerous problems that threaten the viability of your business. Key person insurance can reduce the financial impact by insuring that there is an injection of liquid capital.
Key person insurance helps protect your business in many ways. If a key person dies prematurely, becomes critically ill or disabled, your business receives funds at the time they’re needed. You can use these funds to:
- Help keep your business running
- Find and train a replacement
- Compensate for lost revenues
- Assure creditors and suppliers that funds are available to meet commitments
- Assure customers your business has the means to continue
Consider a top salesperson who is unsurpassed in harnessing client relationships, or an executive whose operational know-how helps the business flourish. Insurance on your key people can help prevent an unexpected loss from financially harming the business you’ve worked so hard to build.
What kind of incentives can I offer to my employees?
Whether you run a sole proprietorship or own a business with 35 employees, we can help you provide various benefit solutions for your business. Employers who offer group benefit plans are more likely to have a competitive advantage with both new and existing employees, leading to better performance overall.
Highly customizable group benefits plans can include services such as life insurance, group critical illness insurance, prescription drug coverage, long and short-term disability insurance, dental care- including basic, major and orthodontic coverage, employee assistance programs and more.
Health & Welfare Trusts assist self-employed individuals and incorporated companies through paying their health and dental claims in a tax-effective and cost efficient manner. These plans work much differently than a traditional individual or group health and dental plans and usually do not have an ongoing premium.
Health Care Spending Accounts (HSAs) are available to professionals or incorporated companies with as few as one employee. HSAs are not an insurance product, and are fully funded by the employer and/or employee on a monthly basis. Because they are not an insurance contract, virtually all health treatments are eligible for coverage, providing incredible flexibility.
We can provide employers with a selection of retirement and savings vehicles which include registered pension plans (defined contribution), registered retirement savings plans, deferred profit sharing plans, employee profit sharing plans, non-registered savings plans, employee stock purchase plans, tax-free savings accounts, and investment-only plans.
We also offer to meet with employees one-on-one to provide members with a full analysis of their needs to build a personal investment strategy.
