Business insurance financially protects an enterprise from unforeseen problems; each potential problem requires a unique insurance package. Business continuation insurance is a kind of enterprise life insurance, purchased by an organization to guarantee a source of funds for maintaining operations. It generates financial coverage should an individual essential to the business be disabled or die unexpectedly. The insured may be owner or partner of the enterprise, or a person with financial, management, marketing or technical expertise critical to its performance and continuance. These are individuals whose loss would have a substantial impact on the enterprise’s capacity to function successfully and according to plan.

Policies of business continuation insurance specifically assign a named: (1) owner, (2) insured party and (3) beneficiary. Unlike most business insurance, business continuation polices are written only after the insuring company has approved the medical information of the specified insured party; this may require medical testing.

Two varieties of business continuation insurance are prominent. With cross purchase insurance, policies are written with individual enterprise owners named as beneficiaries, should a partner(s) or co-owner(s) die or become incapacitated; individual enterprise owners are the recipients of policy benefits. The entity purchase policy names the actual business as owner and beneficiary of benefits; in this case, policy payouts are made directly to the organization. As with most business insurance, continuation policies are funded by the organization; generally policies are written so that beneficiaries – corporate or individual(s) – are paid income tax-free, although a portion of the payout is paid to a tax deferred cash accumulation account.

A cost-effective, easy-to-manage employee benefits program has become increasingly important to many businesses. Our knowledge of the ever-changing employee benefits and healthcare arena, combined with our strong relationships with key benefits providers, allow us to offer our clients the highest quality benefits programs at the most competitive prices. We provide our clients with a high level of pre- and post-sale support (enrollment meetings, customized benefit statements, employee benefit websites, claims management, etc.) while maintaining the attentive, responsive service that is so crucial to the effective implementation of an employee benefits program.

• Group Health
• Group Life
• Dental
• Disability – Short & Long-Term
• AD&D
• 401K
• 529 Plans
• Voluntary Benefits

Finding and retaining the right talent is a key to the success of many companies today. Do you have a strategy to help attract and keep highly talented and driven employees in your organization? It is a fact that 83% of publically-held Fortune 1000 companies offer some type of non-qualified deferred compensation plans to their key executives.

Lewis Salgado Consultants, can help you compete in the market when it comes to providing executive benefits to your key employees. There are a number of ways you can use life insurance as a means to fund an executive benefit plan to make the most of the dollars you put towards the plan. Today, it’s not a matter of can you afford to fund a plan, it’s now a matter of can you afford not to?

• Types of Executive Benefits:
• 401(k) Look-Alike Plans
• Nonqualified Deferred Compensation Plans
• Supplemental Employee Retirement Plans (SERP)
• Executive Bonus Plans
• Split Dollar Plans

Insurance that is intended to serve the insurance needs of business owners. Usually used in conjunction with a buy/sell agreement this defines the transfer of the shares of a business from one owner to the remaining owner(s) in the event of death or total & permanent disability. A buy–sell agreement, also known as a buyout agreement, is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business.

It may be thought of as a sort of premarital agreement between business partners/shareholders or is sometimes called a “business will”. An insured buy–sell agreement (triggered buyout is funded with life insurance on the participating owners’ lives) is often recommended by business-succession specialists and financial planners to ensure that the buy–sell arrangement is well-funded and to guarantee that there will be money when the buy–sell event is triggered.

Life insurance purchased by a business on the life of a person (usually an employee) whose continued participation in the business is necessary to the firm’s success and whose death or disability would cause financial loss to the company.