Business Planning
Proven planning techniques tailored to meet the specific needs of business owners by efficiently funding buy-sell agreements, implementing key person insurance, coordinating retirement planning, and establishing executive benefits to help retain talented employees.
Let’s craft your tomorrow.
Closely held businesses have a variety of different planning needs. Some look to keep the business within the family for generations while others explore various timetables and exit strategies. Life insurance serves as an efficient funding solution for buy-sell plans, key person insurance, and executive benefits.
Buy/Sell Funding
Life insurance is often used to fund a Buy/Sell Agreement, because it can provide the immediate liquidity necessary to buy out interest in the business upon death, ensuring that heirs receive a cash inheritance while allowing the remaining owners to continue to run and maintain the business.
Cohesive Planning for Business Owners
Business planning, retirement planning, and estate planning often intersect, and a cohesive strategy should be developed that addresses all these needs.
CUSTOM PLANNING
Life Insurance Acquisition Process
1
Establish Medical History
Heirmark will use medical evidence and insurance carrier relationships to negotiate for optimal tentative offers on your behalf.
2
Determine the Best Option
Heirmark will evaluate the tentative offers and products to complete a comprehensive analysis for review, so all parties can make an educated decision about the life insurance need.
3
Implement Coverage
Heirmark will prepare and submit the application then finalize negotiations for approval, coordinating delivery requirements and providing ongoing monitoring of policy performance.
Business Succession
Planning an efficient and cost-effective way to fund a Buy/Sell Agreement and create immediate funding at the exact point in time it is needed.
Key Person Coverage
Planning structured to provide a company with funding to offset the value that an employee provides. These funds are received at a highly emotional time to protect the company as a new employee is hired and trained for the vacant role.
Executive Fringe Benefits
Planning that can be used to retain executive employees by providing them with fringe benefits such as Executive Bonus Plans, Non-Qualified Deferred Compensation (NQDC), and Supplemental Executive Retirement Plans (SERP).
Connelly Decision
Planning that considers the Supreme Court ruling on Connelly v United States.
Faqs
Frequently Asked Questions
Find answers to your questions about Heirmark's life insurance solutions, underwriting process, and advisory services.
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Life insurance uses discounted dollars via premium payments to create immediate funding when it is needed most. A comprehensive business plan that includes life insurance creates a source of funds for buyouts, provides benefits to retain executive team members, and bolsters a business if they lose a key employee to an unexpected passing.