Small Business & Life Insurance
Life insurance can assist your business in recovering from the death of a key employee. But did you know it can also play a critical role in your compensation plan? The right Life insurance policy can help you recruit, retain and reward your employees! At Farmers Insurance, our agents are also small business owners themselves, so they understand the challenges you face. Here are some situations in which your Life policy could help your business:
- You found the perfect candidate, but she gets a better offer elsewhere. Executive bonus plans that include Life insurance or annuities can help you create compelling job offers!
- Your operations manager is injured by a covered event and cannot work. Key person insurance can help if a partner or top employee dies or becomes disabled. The policy’s benefit or cash value can be used for lost income as well as candidate searches and training expenses!
- Big expansion plans for your business? Life insurance proceeds can help liquidate outstanding business debt and help protect your family’s personal assets.
- Your partner unexpectedly dies, and her spouse wants to sell their portion of the business. A funded buy-sell agreement can help with a smooth settlement between the owners and their heirs.
However, Life insurance isn’t the only coverage you’ll need! Farmers also offers Business Liability, Business Property, and Cyber Liability and Data Breach insurance. Additionally, we can even combine your individual policies into a Business Owners Policy (BOP) that we can tailor to your industry!