September is Life Insurance Awareness Month, and it’s a great time for business owners to step back and think about how life insurance can protect not only your family but also your businesses and employees. At The Yurconic Agency, we understand that your people and the plans you make for the future are your most valuable assets. That’s why many business owners offer life insurance options: to safeguard your company and provide real peace of mind.
Buy-Sell Agreements
For business partners, a buy-sell agreement funded with life insurance ensures the business can continue smoothly if one partner passes away. Without a plan in place, surviving partners and family members may face tough financial and legal challenges. A properly structured agreement protects everyone’s interests and helps keep the business running.
Key Person Insurance
Every company has those individuals whose knowledge, skills, and client relationships are irreplaceable. Key person insurance provides financial protection if one of these crucial team members were to pass away unexpectedly. It helps cover potential revenue losses, expenses for recruiting and training, and can reassure clients and stakeholders that the business remains stable.
Voluntary Life Insurance for Employees
Offering employees access to voluntary life insurance is an affordable way to enhance your benefits package. There’s no cost to the business, since premiums are deducted directly from the employee’s paycheck each pay period. This makes it easy for employees to protect their loved ones while strengthening your company’s overall benefits offering.
Guaranteed Voluntary Life with Long-Term Care
The most attractive option for many owners is Guaranteed Voluntary Life Insurance with built-in Long-Term Care benefits. With as few as six employees enrolled, your team can access this powerful coverage. Here’s how it works:
- Life Insurance Coverage: Available in amounts from $10,000 to $150,000.
- Long-Term Care Benefit: Equal to 2x the life insurance amount (from $20,000 to $300,000).
- One Simple Premium: Employees pay just one premium for both benefits.
A Guaranteed Voluntary Life Insurance plan is an excellent way for employees to secure their future, protect their families, and plan for potential long-term care needs all through a convenient payroll deduction.
Protect Your Business with Life Insurance
Life insurance isn’t just about planning for the unexpected. It’s about ensuring the stability of your company, protecting your key players, and offering your employees meaningful benefits. As your trusted partner, the Yurconic Agency is here to guide you through your options and find the right solution for your business.