At Precision Benefits Group (PBG), we understand the unique needs of executives. They are the driving force behind your company’s success, and their well-being is paramount. Standard employee benefits may not provide the level of coverage executives require.
PBG can create a customized executive benefits package that includes:
- Comprehensive Coverage for Executives: Life insurance, disability insurance, and medical benefits tailored to meet the specific needs of your key personnel.
- Attraction & Retention: Competitive benefits packages help attract and retain top talent, giving your business a significant edge.
- Peace of Mind: Knowing your executives are well-protected allows them to focus on achieving company goals.
Examples:
- 162 Bonus Arrangements offering tax-advantaged retirement benefits.
- Life Insurance with potentially higher benefit amounts and relaxed underwriting requirements.
- Disability Insurance including tax-free supplemental plans to address the limitations of group plans for high earners.
Buy-Sell Disability & Life Insurance
A company is often owned by more than one person and protecting your business ownership is crucial. A buy-sell agreement backed by insurance policies solidifies the proper transfer of ownership should an event like this happen. Let the experts at Precision Benefits Group guide you to the policies that best fit the needs of you and your partners.
Financial Valuation:
PBG can help you obtain a fair and accurate valuation of your company. This is crucial to determine the appropriate policy size.
Buy-Sell Agreement:
Our team can guide you through the creation of a legally binding agreement outlining the terms of ownership transfer in the event of a disability or death.
Life and Disability Buyout Policy:
PBG will help you secure life and disability insurance policies on each owner. In the event of a covered event, the payout from the policy will be used to fund the buyout of the disabled or deceased owner’s share, ensuring a smooth business transition.
Two business partners decide to look into a Life and Disability Buyout Policy in case anything were to happen to one of them. First, they must get an accurate valuation of the company in order to value the policy fairly. After both partners agree that the valuation is a fair market analysis, they enter into a Buy-Sell Agreement. This is a legally binding document with conditions set by both parties in the event that one is disabled or dies. After the agreement is set, both partners take out a Life and Disability Buyout Policy on each other. Now, they have a legal set of guidelines to follow and a death/disability benefit to collect if either partner were to become disabled or die.
Clarity & Security:
A buy-sell agreement eliminates confusion and potential conflict in the event of a partner’s disability or death.
Financial Protection:
Disability or life insurance benefits provide the remaining partners with the funds to acquire the other owner’s share.
Business Continuity:
A buy-sell agreement ensures the smooth transition of ownership, minimizing disruption to the business.
Contact PBG Today
Let our team of experts guide you through the process of creating executive benefit packages and buy-sell agreements. We’ll help you secure the future of your business and your key people.