Life Insurance

Just as a personal life insurance policy protects your family if you should die or become disabled, so can life insurance help your co-owner or colleagues secure your business and keep it going in your absence. If you’re the sole business owner and your family inherits your business, life insurance can protect them against being rushed into selling the business in a distressed situation.

Buy-sell agreement 

Upon the death of a co-owner, this policy provides funds for the remaining owners to buy the portion of the business held by the deceased co-owner, at a previously agreed-upon price. The buy-out money goes to the deceased’s family, or to the person(s) who inherited the business shares.

Individual Life Insurance

This is insurance for your family and a defense against a distressed sale. Your family may need to sell the business to pay the loan obligations, which could pressure them to sell the business for less than it is worth. An individual life insurance policy for an amount equal to obligations can help protect your family from this situation.

Voluntary Term Life Insurance

This policy is available as an add-on option to an employer-paid program and provides coverage up to $500,000. Portability options allow employees to retain coverage after leaving their jobs.

Insurance for short- and long-term disabilities

Group disability insurance protects your employees’ most valuable asset: the ability to earn a living, even if illness or injury keeps them from working. Employers can choose to pay all, part or none of the employees’ premiums. Individual disability protection is also available to wrap-around group disability insurance, to help protect more of a key employee’s income.

Worksite Benefits

Worksite Benefits offer multiple products and a variety of plans on a voluntary, employee-paid basis. Coverage options include:

  • Universal Life
  • Term Life
  • Cancer and Specified Disease
  • Long and Short Term Disability
  • Dental
  • Accident
  • Hospital Indemnity Plans
  • Critical Illness
  • Major Medical Complement (Deductible or GAP plans)