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Small business

Small Business Products & Services
You’ve achieved your dream of owning a business. But as you know, the boundless opportunities of business ownership come with plenty of planning and risks. Have you thought about your retirement, or how to attract and retain good employees? What about what would happen to your business in the event of your death or long term disability? Kairos Insurance Services can provide solutions and help you manage your risks so you can focus on keeping your business on the road to long-term success.

Buy/Sell Agreements

The death or long-term disability of a business owner may lead to internal turmoil, customer erosion and disruption in revenue flow. A buy/sell agreement funded with life insurance may help prevent these problems from arising and potentially damaging your business. Most business owners implement one of two plans – the cross-purchase plan or the entity purchase or stock redemption plan

– Cross purchase plan

Each business owner purchases a life insurance policy on each of the other owners. When an owner dies, the surviving owners use the death benefit to purchase the deceased owner’s share of the business.

– Entity purchase or stock redemption plan

In an entity redemption plan between owner-employees, each owner enters into an agreement with the business for the sale of their respective interests to the business. As a part of this agreement, the business will purchase separate life insurance contracts on the lives of the owners. The business will pay the premiums and will be the owner and beneficiary. When an owner-employee dies, his or her share of the company will pass to the heirs of his or her estate. The business may use the proceeds from the policy to purchase the interest from the estate.

Key Person Insurance

Replacing a key person takes time and money – and could cost the business valuable clients during the transition. Key person life insurance offers a death benefit that can help cover financial losses that occur at the death of a key person. This helps assure continuity of the business for employees, customers and creditors.

Other features of key person insurance
  • The death benefit can be used to recruit and develop a replacement for the previous key employee
  • Coverage is a business asset that enhances your company’s creditworthiness for commercial borrowing
  • The policy’s cash value may be available to your business through a withdrawal or loan if needed
  • The business pays the premiums, and they are non-deductible

Group Life Insurance

Protecting our families and providing support for the people who depend on us may be one of the most important accomplishments of our lives. But funeral expenses, medical bills, taxes and debts can quickly create a financial burden when a family provider is permanently disabled or passes away unexpectedly.

Group Term Life Insurance can provide peace of mind for family members after the loss of a loved one. Dependents will have the financial support they need to help cover final expenses, support daily financial obligations or even assist with a child’s education.

Retirement Plans

A small business employee retirement plan can be a smart way to provide for one of your key assets – your people – as well as benefiting you and your business. Whether you are self-employed, looking for a 401(k) for your small business or need a tailored IRA plan (SEP, SIMPLE, Keogh..), Kairos Insurance Services can help you create a forward-thinking retirement plan.

Short Term Disability Insurance

Most people aren’t prepared to cover their daily living expenses, let alone ongoing financial obligations, if a disability would prevent them from working. Short Term Disability Insurance can help provide peace of mind for your employees and their families. The financial consequences of disability can be devastating. Not many people could manage without a regular source of income, even for a short time. Protecting your employees’ ability to earn an income is a valued component of a complete benefits program. Kairos Insurance Services provides solutions that can help small businesses like yours compete for and retain top talent.

Vision Insurance

Incorporating a vision plan into your employee benefits program can be a high-value, low-cost way to help you better meet your company’s objectives of managing benefit costs, increasing employee productivity, and attracting and retaining employees. Vision benefits are valued by employees and do more to address employee health and productivity than just correcting vision problems and treating eye diseases.

Dental Insurance

Good oral hygiene means more than just a bright and attractive smile. Common oral problems have been linked to conditions as serious as heart disease and diabetes. The simple habits of regular brushing, flossing, a healthy diet and regular dental checkups could help prevent significant health concerns – and higher medical bills. Kairos Insurance Services offers competitive and flexible dental plans for employers who offer dental coverage to their employees. Available dental insurance benefit plans include those that are 100% employer-paid, 100% employee-paid or a shared cost between the employer and the employee.

Disclosure

Federal income tax laws are complex and subject to change. This information is based on current interpretations of the law and is not guaranteed. Neither the company nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.
Insurance Services offered through Kairos Insurance Services, CA Insurance License #0H15005, a wholly owned subsidiary of Kairos Financial Group, Inc.