Sacramento Small Business Owner Programs
To a small business owner, their business is often their most valuable asset. The loss of a key employee or partner can leave them financially vulnerable. A business needs to be able to leverage their employee benefits to attract and retain the right personnel.
Fortunately, many of Finish Line Insurance Services carriers offer business protection and valuable accumulation for small business owners through an array of options to cover their needs.
A Buy / Sell Agreement protects the business in the event of an owner’s death. As part of a business continuity strategy, it allows an orderly transition of ownership and management.
A Buy/ Sell Agreement:
- Preserves the value of the business interest for the owner’s heirs by establishing a fair market price for the business
- Has the ability to provide cash for survivor income and settlement payments
- Determines who can buy the departing partner’s share of the business
A Key Person Plan protects the business from the financial impact and loss of experience of a key employee. This plan is owned by the business and helps provide cash to the company in the event of a key employee’s death. It can also be used as a source of emergency funds and as collateral for loans.
A Key Person Plan:
- Can be designed as an incentive for key employees
- Compensates for the time spent replacing the loss of the insured
- Remains with the business if the key employee is terminated or retires.
An Executive Bonus Plan allows owners to reward their talented employees with a tax-deductible bonus of insurance. The business determines which employees will participate and offers them an enhanced retirement package and / or survivor benefits at little or no cost to the employee.
An Executive Bonus Plan:
- Is a great employee recruitment and retention tool
- Does not require IRS approval
- Is easy to implement and can be altered at any time
To learn more about the opportunities available for your small business, contact the Finish Line Insurance Services today.
