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What You Need to Know About Executive Benefits
Benefit Plans for Unique Risks
Key management employees and executives face unique personal, financial, and business planning concerns. Often, their needs exceed the level of available group benefit plans and require a custom benefit strategy. Since the recruitment, retention, motivation, and protection of this elite group is critical to the long-term success of the company, you don't want to leave this planning to the inexperienced.
Griffin Owens Insurance works with executives and business owners to meet these needs with professional attention paid to the unique tax issues and opportunities that face this group.
Key person insurance, buy/sell planning, individual disability carve-out plans, and other high-quality programs are an important aspect of significantly improving the perceived value of total compensation for the executive and protecting your business in the event of the retirement, death, or disability of selected key executives.
Some of the consulting and policies providing executive benefits offered by Griffin Owens Insurance include:
- Key Person Protection
- Estate Planning
- Supplemental Executive Retirement Plans (Deferred Compensation)
- Personal Financial Planning
- Business Succession Planning
- Buy/Sell Planning
- Stock Redemption Planning
- Selective Executive Life Insurance
- Comprehensive Policy Review Services
- Individual Disability Protection
Every co-owned business needs a buy-sell, or buyout agreement the moment the business is formed or as soon after that as possible. A buy-sell, or buyout agreement, protect business owners when a co-owner wants to leave the company (and protects the owner who’s leaving). If a co-owner wants out of the business, wants to retire, wants to sell his shares to someone else, goes through a divorce, or passes away, a buyout agreement acts as a sort of “premarital agreement” to protect everyone’s interests, setting the price and terms for a buyout. Every day that value is added to a business without a plan for future transition, it increases the owners’ financial risk