We offer the following services for business owners:

  • Executive Bonus Plans
  • Key Man Insurance
  • Buy Sell Agreement Funding
  • Premium Financing
  • LegalShield - Family and Business Legal Plans
    ​​

Executive Bonus Plan 
How would you like a tax-advantaged strategy that allows you to...

  • Reward yourself and your key employees
  • Help contribute towards a secure retirement
  • Some executive benefit plans can provide benefits in case you die too soon, live too long or become ill


Benefits to Business

  • Flexible contributions and multiple designs are available
  • May select among employees and may include business owner employee as a participant
  • Bonused dollars are tax-deductible to the company as compensation
  • Simple to implement: no IRS approval required
  • Provide incentives to reward and retain key employees Benefits to Business Owner and Key Employees
  • Receive a valuable benefit
  • Participant owns the life insurance policy and selects their beneficiary
  • Potential for retirement income through tax-free loans and withdrawals
  • Some policies have accelerated benefit riders that offer access to the death benefit in the event of a qualifying terminal, chronic, critical illness or critical injury
  • Pick  the amount and time of distribution
  • Beneficiaries can receive an income tax-free death benefit


Key Man Insurance

What would happen to your business if your most important employee/employees died? Would your business be ok? How long would it take you to train and replace your most important employees? Key man insurance may be the solution to this problem.


Benefits Include:

  • Death Benefit Paid to the business owner
  • Business Owner is the owner of the policy
  • Can provide cash to pay for lost profits and training of a new key employees
  • Some policies can provide accelerated benefit riders that offer access to the death benefit in the event of a qualifying terminal, chronic, critical illness or critical injury. This can provide money for your employee when they become ill. This can be a benefit to your employee in their time of need.
  • Policies can be designed to build cash, so if additional money is needed for the business, the business owner will have access to this.


Buy Sell Agreement 

  • ​What will happen to your business if you or a business partner dies, becomes disabled, or severely ill? ​
  • What will happen to your family if you are no longer able to work/run your business due to a disability, severe illness, or even your death. Will your family still be able to benefit from the cash flow of business?


Many businesses may go out of business following one of these events and the families of these business owners may be left unprotected and in a bad place.  A business succession strategy using a properly structured buy-sell agreement can help you protect your family and your business. Life insurance is one of the lease expensive and easiest ways to fund this agreement.  

​A buy-sell agreement may:

  • Provide liquidity for your family
  • Create a guaranteed market for your business interest
  • Allow those who are interested in continuing your business to do so without interference
  • Set the purchase price and terms of payment in advance 
  • Establish the value of your business for federal tax purposes
  • Specify how the transfer will be funded
  • Improve access to credit
  • Provide greater retirement security


Premium Financing
The life insurance industry and the banking industry came together to design a benefit  for individuals and or business owners that have a net worth in excess of 5 million. Someones network allows them to leverage their money, without taking away their cash flow. If you are looking to leave 10 million or more behind for your loved ones or build cash for retirement than premium financing maybe for you.


How premium financing works:

  • Bank loans the money for the life insurance policy premium
  • Interest earned from the life insurance policy (usually using an Indexed Universal Life Policy) pays the bank back
  • Once the bank is paid back, what left is a fully paid for life insurance policy
  • Individual/business owner, own the policy
  • Choose who will receive the death benefit
  • Use the cash value from the policy for tax free income through loans, or whatever you choose to use the money for
  • Some policies can provide accelerated benefit riders that offer access to the death benefit in the event of a qualifying terminal, chronic, critical illness or critical injury.


For more information on any of the above products. Contact Secured First Financial and schedule a free consultation or email us by filling in the blanks below:​

Business Owner Life insurance Hewitt, Woodway, Waco, Texas
Secured First Financial - Life Insurance in Waco, Texas

Business Owners Life insurance In Waco, Killeen, Temple, and Belton, Texas