Keeping your business secure and growing

Meet Jamie and Sarah. They started their home design and remodeling business together during college and have grown it steadily over the past 20 years. They are ready to expand. They are both essential to the current operation, though they just hired a new executive to lead their scale up.

Their life insurance solution

As Jamie and Sarah evaluate the right life insurance for them, here's how they decided which policy is the right fit:

  • Build a solid transition plan. Early on, we knew that we had to plan for the unexpected, like what would happen if one of us was unable to be involved. Having this plan makes our families feel secure that they won’t have to worry about who runs the business.
  • Ensure business continuity. Our key employees are directly responsible for much of our success.  In the event of a loss of a key employee or owner, we can use death benefit proceeds to fund recruitment and training efforts for a new employee, replace profits, or help settle any loans due or for other expenses as our company transitions.1
  • Retain, reward and recruit talent. To lead our scale up, we needed a proven executive. Using life insurance in an executive bonus plan, in addition to compensation, was a game changer in our ability to win top talent.

Looking to protect and grow your business like Jamie and Sarah?

Here are some strategies to discuss with your financial professional:

  • Buy-sell plans
  • Key person coverage
  • Executive bonus plans
     
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How will you continue to find business success?

Gain advantages for your business and your employees.

See Lincoln Business Insurance Solutions' client guide

Life insurance offers an efficient way to help protect your company, compete for top talent, reward your employees, and plan for a financially secure future.

Laura Teter
Protect your business and your family

Hear from a financial professional on why life insurance is so important to the financial planning process.

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Are you a business owner looking for individual coverage?

Life insurance provides a tax-advantaged way to protect, build and transfer wealth for yourself and your loved ones.

See how to plan with life insurance

Are you getting the most out of your life insurance?

Life insurance provides many creative and unique benefits and is often under-utilized.

See the possibilities of life insurance

1 Annual increase in policy cash values and death benefit proceeds may have corporate alternative minimum tax implications.

 In New York, Lincoln LifeElements® One-year Term and Lincoln LifeElements® Level Term (10-year) will only be available for contractual obligations. Lincoln Financial Group® affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide estate, tax, accounting, or legal advice. Please consult an independent professional as to any tax, accounting, or legal statements made herein.

It is possible coverage will expire when either no premiums are paid following the initial premium, or subsequent premiums are insufficient to continue coverage.