Financial Representative
Daniel B. Tercero
Tel: 786-246-4411
Business Solutions & Financial Services Inc
E-Mail: tercero@allstate.com
Business Life Insurance
Business owners
could get
business tax deductions
by getting
business life insurance to protect their families
or give
employees benefits.
In today’s competitive job market, keeping the people who matter most to your company may require providing more than traditional benefits. An Executive Bonus Plan is a fringe benefit worth considering for key employees who are continually making significant contributions that add to your company’s success.
If you’re looking for a plan to selectively reward key employees, including yourself, an Executive Bonus Business Life Insurance Plan may make sense for your business.
Company Benefits: What we offer
We offer a range of business life insurance policies. From business term life policies that help protect your Family or Employees for a specific period of time to business permanent policies with a
cash value component.
Protect the business from the death of a key employee with a
KEY PERSON INSURANCE
Why should be concerned?
-
Loss revenue
-
Business disruption
-
Financial burdens of hiring and training a replacement
Retaining rewarding, and recruiting top talent with an
EXECUTIVE BONUS 162 LIFE INSURANCE
Why should be concerned?
-
Loss of revenue
-
Competition for skilled executive talent
-
Larger businesses better positioned to offer more robust benefits
Efficiently transferring business interest (BUY-SELL PLANNING) with a
BUY-SELL FUNDED WITH LIFE INSURANCE
Why should be concerned?
-
Protection in the event of death/disability of a
co-shareholder -
Make sure business passes to a suitable owner
-
Established fair market value
Without proper advanced planning, the disability or death of a business owner can result in many costly consequences, including:
-
Sale of the business or business assets at “fire sale” prices
-
Loss of primary source of income for the disabled or deceased owner’s family
-
Demand by creditors for debt settlement
-
Possible need to liquidate estate assets to pay business debts
FAILURE TO PLAN WILL BE A COSTLY MISTAKE
(Business owners who want Current Tax Deductions when offering additional benefits to key employees)
KEY PERSON INSURANCE
EXECUTIVE BONUS BUSINESS LIFE INSURANCE (Section 162 Bonus Plan)
BUY-SELL AGREEMENT LIFE INSURANCE
What is an Executive Bonus Business Life Insurance Plan?
An Executive Bonus Plan offers a way for employers to provide the additional benefit of life insurance for selected key employees. As a benefit, it can also attract top-level people to the company. By offering a bonus plan, businesses can use tax-deductible corporate dollars to selectively meet individual employees’ life insurance needs while allowing for cash value accumulation.
• The policy is an additional fringe benefit that makes it easier to recruit and retain quality employees.
• Business owners may freely select the employees who will participate in the plan.
• Bonus plans can be simple to implement. The arrangement does not have to be prequalified by the IRS nor is it subject to annual reporting (other than W-2 reporting).
• The bonus payments are deductible as long as the total compensation is reasonable.
What about taxes?
Term vs. Permanent Life insurance VIDEO
Personal Life Insurance information
Life Insurance average cost
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