Business Solutions

Strengthen Your Small Business

Careful planning can help you maintain a strong workforce and ensure that, in the future, ownership of your business will transfer in the manner you choose.

Our financial professionals will take the time to listen, help you compare employee benefits and insurance solutions, and create a long-term strategy.

Attract and Retain Key Employees

In today’s highly competitive marketplace, securing top talent is a challenge. You can help attract valuable employees, boost retention, and stand out from other employers by offering attractive incentive benefit arrangements including supplemental insurance and retirement benefits. CourseMark can tailor a program to your needs.

Solutions Include:

  • Nonqualified Deferred Compensation Plans

    NQDC arrangements are designed to provide additional retirement benefits for key employees beyond their regular 401(k) or other retirement plan. These arrangements are often supported by life insurance that is paid for and owned by the business.

  • Executive Bonus Arrangements

    In this incentive plan, your business provides an executive with funds to purchase a life insurance policy that they executive owns. In addition to providing a death benefit for the employee’s beneficiaries, this versatile executive benefits arrangement can be structured to provide bonus incentives and retirement income that are generally tax-free to employees.

  • Split Dollar Life Insurance

    Split dollar plans are a cost-effective and tax-efficient way to provide benefits using a cash-value life insurance policy. As the name implies, split-dollar plans involve splitting the benefits of a life insurance policy between your business and a key employee. The arrangement can be structured in different ways, depending on the incentive you want to provide, and the death benefit received by the employee’s beneficiary is income-tax-free.

  • Supplemental Disability Income Insurance

    One in four people will become disabled at some point in their career, according to the Council for Disability Awareness. Support your employees by offering supplemental disability income insurance on either a voluntary or employer-paid basis. This supplemental coverage can augment existing group long-term disability income insurance (LTD), helping reduce the gap between LTD benefits and your employee’s pre-disability income.

    Learn more by reading our guide for business owners.

Protect What You’ve Built

What would happen to your business if you, your business partner, or a key employee unexpectedly died or couldn’t work because of an illness or injury? Our team can help you design a strategy to prepare for such emergencies and support your company’s continued success.

Solutions Include:

  • Buy-Sell Agreements

    In the event of a business owner’s death or disability, a buy-sell agreement defines the terms of the buyout of the owner’s interest in the business. This helps minimize disruption to the company’s day-to-day operations and ensures a smooth transition of ownership. Life and disability buyout insurance can be used to fund the buy-sell agreement.

  • Business Overhead Insurance

    This insurance reimburses business owners for existing overhead expenses – such as employee salaries and rent – while they are disabled, keeping the company up and running while the owner recovers. BOE premiums are generally tax deductible as a business expense.

    Learn more by reading our guide for business owners.

  • Key Person Insurance

    Support your business’s financial stability in the event of a valued employee’s death. Under this type of arrangement, your business purchases a life insurance policy to cover that individual, naming your business as the beneficiary. If the key employee dies, the policy proceeds are paid to the business to help keep it going while you work to replace the deceased employee.

It All Starts With a Conversation

Together, we will discuss your needs and compare your options. Then, we will provide a no-strings-attached proposal based on your specifications.