Business life insurance helps the preservation of your business and its employees should the unexpected occur. The Farmers Insurance suite of life insurance products for business owners will also help you recruit, retain, reward and retire employees through tailored solutions that meet the specific needs of your business.
Most employees are concerned about protecting their families from financial burden if they pass away, and you can help by providing life insurance options. We offer the best business life insurance products available — executive bonus plans, group life insurance, and key person insurance. Also available are funded buy-sell agreements and debt liquidation coverage.
Under the executive bonus plan, you can allocate funds to select employees for the purchase of a life insurance or annuity product. Your employees will appreciate the quality life insurance, and you’ll receive an immediate tax deduction and freedom from further administration and benefits tracking.
Group life insurance allows business owners to offer cost-effective life insurance plans to employees — plans they wouldn’t be able to afford otherwise. By offering this benefit to your employees, they will have a peace of mind that could only come as the result of your generosity.
If you have employees with special skills, knowledge or relationships that would be difficult or expensive to replace, key person insurance is for you. You can use the death benefit or cash value provided by the policy to fund replacement and retraining programs. This will ensure that business lost during the transition is minimized.
Our trained commercial lines representatives have insured businesses in every industry, and we know exactly what your business needs when it comes to life insurance. We’ll personally evaluate the needs and budget of your business to help you find the best and most appropriate group life insurance package. Contact a B.W. Baker Insurance agent today to schedule your no-obligation appointment.
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