Business Planning

Ensuring continuity of your business assets

What is an Executive Bonus Plan?

An executive bonus plan is a strategy that allows businesses to reward and retain top talent by providing life insurance benefits as part of an employee’s compensation package. The business pays the premiums, and the executive owns the policy, receiving both protection and potential cash value growth.

Provides life insurance coverage as an employee benefit
Helps attract and retain key executives
Allows executives to access potential cash value in the policy
Deductible business expense for the employer (in many cases)
Flexible design tailored to the business and executive’s needs

What is Key Man Insurance?

Key man insurance is a life insurance policy a business takes out on a vital employee, owner, or partner whose knowledge, skills, or leadership is critical to the company’s success. The business owns the policy, pays the premiums, and is the beneficiary if the insured person passes away.

Protects the business from financial loss if a key person dies
Provides funds to cover hiring and training a replacement
Helps maintain confidence with clients, lenders, and investors
Can be structured to support business continuity planning
Safeguards company value during times of transition

What is a Buy - Sell Agreement?

A buy-sell agreement is a legally binding contract that outlines what happens to a business if an owner or partner dies, becomes disabled, retires, or decides to leave. It ensures a smooth transition of ownership while protecting the business and all involved parties.

Defines how ownership interests will be valued and transferred
Provides a clear plan for buying out a departing owner’s share
Prevents unwanted outside ownership or disputes
Often funded with life or disability insurance for liquidity
Protects both the business and the departing owner’s family

What is a Succession Plan?

A succession plan is a strategy that ensures the smooth transfer of leadership, ownership, and responsibilities when a business owner or key leader retires, steps down, or passes away. It protects the future of the business and provides clarity for employees, clients, and family members.