Many small and medium-sized business owners are overwhelmed with the day to day operations of their business and have very little free time to handle non-revenue generating items. They often have one or two in-house employees that help with Human Resources and Bookkeeping and although these administrative employees do the best they can, there is usually no way for them to keep up with changing regulations or advise on employment law issues. Because we have advised business owners for the last 23 years, our services are designed to help enhance our client’s businesses, while coaching their administrative staff on the things they don’t know they need to be doing too. At Hershenberg Stone-Walsh Insurance services we specialize in helping businesses in a variety of ways. Below are some of the following:
Attract and retain quality employees with the following:
Split-dollar life insurance is another benefit you can offer your employees while investing in your company. Here, the business purchases a life insurance contract on the life of an employee and shares the cost. If the employee dies, your business receives an amount equal to the premiums paid, and the employee’s beneficiary receives the remaining death benefit. If the policy is surrendered for any other reason, your business receives the cash value.
Deferred compensation that supplements a retirement plan is another option you might consider. Your company would buy a life insurance policy on the life of a key employee. The business is the owner and beneficiary. If the employee dies, the business receives the death benefit tax-free. From the benefit proceeds, your business pays an annual sum to the employee’s survivors fora specified period.
Providing group life insurance as an employee benefit can also help your business by attracting and retaining employees. Group insurance is less expensive to purchase than individual insurance. Also, no medical exam may be required, depending on the size of your company. Here, the premiums are tax-deductible to your business, and the benefits are paid directly to your employee’s beneficiary.
To learn about all the ways we can support businesses, CLICK HERE!
ABOUT HERSHENBERG & STONE WALSH INSURANCE
We are an insurance agency contracted with multiple insurances we are able to simplify the insurance buying process. Our ability to offer most lines of insurance provides our clients with one contact to help with any insurance or service needs. If you have any questions about any of the insurance services we offer and or wish to schedule an appointment, send us an email or give us a call at (480) 526-9124.
Recent Comments