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Business Solutions
A wide range of business solutions tailored to your specific business needs.
Business & Executive Solutions
We work with business owners and executives to implement strategic insurance and financial solutions that help protect their company’s financial health, retain key employees, and maximize tax advantages.
Key Person Insurance
Protects your company from financial loss if a key employee, executive, or founder passes away or becomes disabled.
Buy-Sell Agreements
Ensures a smooth transition of business ownership in the event of an owner’s passing, disability, or retirement.
Executive Bonus Plans
A tax-deductible way for businesses to offer life insurance as a benefit to key employees, helping attract and retain top talent.
Deferred Compensation Plans
Allows executives to defer a portion of their income into a tax-efficient retirement vehicle.
Corporate-Owned Life Insurance
A powerful financial tool that allows businesses to fund executive benefits, secure tax advantages, and protect against financial loss from the death of key employees. COLI can also serve as a strategic investment for businesses seeking long-term growth.
We partner with you to ensure you have the right financial tools in place to protect your assets, employees, and legacy.
Life Insurance Retirement Plan (LIRP)
Life Insurance Retirement Plan (LIRP) instead of a traditional 401(k) for a private corporate company is a highly specialized strategy. A LIRP serves as an excellent supplemental benefit tailored specifically for owners and key executives. While a 401(k) is designed to provide broad, tax-advantaged retirement savings for the entire workforce, a LIRP uses an overfunded permanent life insurance policy to accumulate tax-deferred cash value that high earners can access tax-free during retirement.
Direct Comparison: LIRP vs. 401(k)
Primary Purpose
Broad employee retirement accumulation.
Executive benefit & tax-free wealth transfer.
Tax Treatment
Pre-tax contributions; taxable withdrawals (or Roth options).
After-tax contributions; tax-free loans/withdrawals.
IRS Limits
Capped annually ($23,500+ depending on age).
No IRS contribution limits (based on policy design).
Discrimination Rules
Must pass strict testing to benefit all employees equally.
Can be offered exclusively to select executives/owners.
Costs & Fees
Low to moderate administration and fund fees.
Monthly or yearly premiums, insurance costs, and fees.
Why Private Companies Use LIRPs
Executive Discrimination
401(k) plans are bound by ERISA non-discrimination rules. A LIRP allows a private company to selectively reward key executives or owners without offering the same benefit to all staff.
Skins the “Top-Heavy” Problem
In private corporations, highly compensated employees (HCEs) are often limited in their 401(k) contributions if rank-and-file employees don’t participate enough. A LIRP bypasses this issue entirely.
No Contribution Ceilings
For business owners generating significant cash flow, the 401(k) limit is often too small to fund their desired lifestyle in retirement. A LIRP allows them to shelter much larger sums.
Business Continuity Tool
The policy can be structured as “Key Person” insurance or tied to a Buy-Sell Agreement, protecting the private corporation if an owner passes away, while accumulating cash if they survive to retirement.
Looking to secure your retirement?
Need a plan to protect your business and key employees?
Want to maximize wealth with tax-free strategies?
Let’s connect and explore the best solutions for you.
Premium Financing
Insurance premium financing is a way to pay for life insurance premiums by borrowing money. There are a number of benefits to this, including:
- Eliminating the need for large up-front premium payments.
- Keeping your own capital invested in other assets.
- Avoiding the high cost of paying premiums with after-tax dollars.
Premium financing is an effective strategy used by many types of purchasers, such as high net worth individuals, entrepreneurs, corporations, trusts and business owners. Financing the majority of the upfront cost of an insurance policy means business owners do not need to cash in or sell their assets to pay for the entire cost of the policy upfront, so the business can enjoy the protection of the policy without negatively impacting cash flow or assets.