Click on the following links for informational videos:
| Life Insurance for Businesses (2 min) |
|Disability Insurance for the High Wage Earner (1.5 min)|
|Disability Insurance for Small Businesses (2.5 min)|
|Self-Insuring vs. LTC Insurance (4 min)|
Life insurance has evolved from the most simple of term life
policies to complex cash value policies with disability and long term care
riders. As a business owner, life
insurance plays a critical role in providing collateral for future growth,
funding for a buy-sell or key person agreement as well as provides opportunities
for golden handcuffs and tax free retirement income. Life insurance can be a creative option to get
income out of the tax cycle.
Often disability insurance is overlooked with regards to key person
and buy-sell agreements. But one is more
likely to become disabled than die at any age.
Overhead disability insurance is an extremely valuable and versatile asset that enables business owners to collect based on the expenses of the business such as rent, heating, and payroll, when they become disabled. This type of insurance is less expensive than traditional individual disability insurance and less reliant on the owner’s net income.
Ideally, individuals and business owners would want a
comprehensive individual disability policy to replace their income for the
duration of their working years. But for
business owners who reinvest most of their income back into your business or
are thinking about disability insurance at older ages, the premium may seem
A 2 year
disability policy provides the business owner the peace of mind at about half
the cost. Two years is the critical time
period for filling the gap until government social security (SS) disability pays. The 2 year benefit may be all that
is needed with a recoverable disability.
SS disability insurance is the government plan for total
disability. It is only for those who can
prove or have already been disabled, unable to work in any profession, for 12 months, which is often too late for a small
business to survive.
Long term care insurance is an increasing important protective benefit that has the unique tax benefit that even when premiums are paid by the business the benefits are still received tax-free by the owner and/or employees.
The first step is identifying the insurance protection your
business has in place and then calculating your business needs. With over 30 years of experience as a health
care professional, insurance agent and licensed insurance adviser, Linda Thalheimer
helps businesses through this process. Linda’s
knowledge and experience in understanding medical and contract language enables
her to provide the most appropriate and competitive quotes and options based on
health, age, gender and need with the most appropriate companies.
Many business owners already have a relationship with their insurance provider. As a Licensed Insurance Adviser in Massachusetts, Linda offers a fee-based option to provide comprehensive, unbiased reviews and recommendations.