Small Business Products & Services
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
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.
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.