Farmers has provided generations of business owners with the security that only life insurance protection can bring for you and your employees.
People may be the most important asset to your business. Farmers New World Life Insurance Company offers many options for business owners. Your Farmers agent can help you plan for business succession, survive the loss of a key employee or partner, as well as retain and reward your top performers.
Determine how much life insurance you may need by entering your current business assets, expenses and income in the calculator.
Life insurance and annuities issued by Farmers New World Life Insurance Company, Mercer Island, WA 98040
Keep Your Best Employees and Preserve Your Achievements
- Executive Bonus Plan
Recruit and keep your best and brightest employees with a win-win Executive Bonus Plan. Under this plan, you provide select employees a motivational incentive by paying additional funds by means of a bonus so they can purchase a life insurance or annuity product. Your employees will appreciate the opportunity to obtain a life insurance product they control. You will benefit from the immediate income tax deduction that comes with the employee bonus as well as freedom from further administration and benefits tracking.
- Group Life Insurance
A key concern for many employees is protecting their families if they pass away. Farmers Life can help you meet this core need by helping you find a cost-effective Group Life Insurance plan for your business. Your employees are rewarded with an affordable group rate for individual life insurance plans.
- Variable Universal Life Insurance*
Variable universal life insurance is a type of permanent life insurance that offers premium and death benefit flexibility, and allows you to direct the investment of your policy’s contract value to suit your individual needs. The growth of your contract value is generally income tax-deferred, and life insurance proceeds usually pass tax-free to your beneficiary. Variable universal life insurance is subject to insurance related charges and fees.
- Key Person Insurance
Select employees with special skills, knowledge or relationships that would be difficult or expensive to replace are the backbone of your business. If one of these key employees becomes disabled or dies, you can use the death benefit or cash value from the policy to fund replacement and retraining expenses and help make up for lost business during the transition.
Think Ahead and Prepare for Future Success
- Funded Buy-sell Agreement
Your business has progressed and prospered due to your savvy planning and dedication. Farmers Life can help move your business forward should the unexpected happen. If you or one of your partners dies before retirement, a Buy-Sell Agreement drafted by an attorney and funded with Life Insurance can help provide financial security for heirs, strengthen future credit positioning and assure business continuation.
- Debt Liquidation
Many business owners consider debt liquidation to be essential to their business insurance because personal assets could be affected if they pass away. If you don’t want to burden your family with business debt in the event of the unexpected happening, Farmers Life offers a variety of coverage options to address your needs.
You can also talk to your Farmers insurance professional
about personal Life
Insurance as well as Auto
and Recreational Vehicle