Protecting Your Business

Protecting Your Key Employees


Do you run a business, firm or practice? Do you have any valuable "Key Employees," you simply can't do without, that are key to the success of your business? Would your business suffer without them? What if they simply failed to show up to work one day, without notice, when you really needed them? That's what happens when there's a sudden death or disability. What if they get attracted to the competition for a better benefits package? We can help you with Key Person Insurance, that protects your business from a Key Employee's death or disability and pays your business a tax-free death or disability benefit. This money can help you to weather the storm, pay bills and provide you the money and time to attract and hire a replacement. Do you have a business partner, with special, unique skills and vice versa? If there is a premature death or total disability for either of you, will it cause a strain on the living partner and the business? We have solutions! 

Protecting Your Partnership


Do you have a business partnership? What if your partner dies or becomes totally disabled? Do you want to be in business with their spouse or would you prefer to buy them out?  Where will you get the cash? Most businesses don't have this kind of liquid cash at their disposal; it's often tied up in brick and mortar and account receivables. How much more gross income will your business need to generate to net enough after-tax money for the buyout? A LOT. What bank will loan you the money, with a key partner now missing from the equation? If you do get a loan for the buyout, you will still owe all that principal AND interest. Wouldn't it be much easier to purchase policies for pennies on the dollar. With Buy/Sell Life and Disability insurance policies, the very even that causes the problem, is the very thing that triggers the right amount of cash right when it's needed. 

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Disability Business Overhead and Commercial Loan Protection


Do you have business or practice with a  lot of overhead? Do you have  any commercial loans? If you get sick or hurt and become totally disabled, how will you cover your business expenses like payroll, utilities and your business lease or rent? How will you stay in the black and maintain your good credit rating? How will you make your commercial loan payments on time? We can help you with Business Overhead Expense Policy or "BOE" that reimburses you for your regular business expenses. We can also add a "Business Loan Repayment Rider" or "BLRR" that makes your commercial loan payments for you on your behalf right to the lender. The premiums for these policies are even tax-deductible! Call us today. We have solutions.  

Golden Handcuffs Incentive Plans for Top Executives


Are you a business owner looking for additional ways to attract, hire, retain and reward top executive key employees? Unlike a 401K where you have to do something for everyone, would you like to have the flexibility to pick and choose who you reward? Would you like to provide them additional retirement income, but also attach "Golden Handcuffs," as an incentive to keep them around and from going to the competition? Would you like to save money to create tax-free retirement income, but you earn too much to contribute to a Roth IRA? Are you or your top employees "top heavy," and therefore considered ineligible to contribute to your 401K? Are you interested in a powerful concept where you can build loyalty among your top employees, and get a double tax advantage by having your business receive  tax-free income distributions, and be able to pay this money out to your top employees as a tax-deductible expense?  We can help you with ideas to hire, reward and retain the best talent for your business. Additionally, these plans capture the upside of the market when it does well, with zero downside market risk. When the market goes up, your money goes up, but it doesn't go back down when the market does. Also, unlike qualified plans like 401Ks, funds can be tapped before age 59 1/2 for emergencies and opportunities without early withdrawal penalties. Give us a call or book an online meeting to learn more about how to reward and compensate your best employees in the most tax-advantaged ways possible.

Sean Cresap, President, Cresap Orthotics & Prsothetics

Sean is one of our very top valued clients. Listen to Sean share why he feels disability insurance is so important to protect his income, his family, his business and his employees and how he feels about working with us at Radwick Financial Group. 

Check out this great video on Business Overhead Expense Protection "BOE" by Ameritas Life

Another great video on BOE by Principal Life

Key Person Video by Principal


Tax-Free Retirement Planning for your O&P or Medical Practice

Key Employee Retirement Incentives


Disability Insurance Vs L&I Worker's Comp


Disability Insurance for Business