Business Life Solutions for Restaurant Owners

No restaurant owner wants to think about how his or her restaurant would survive  without a fellow owner or a key employee.  Yet these things do, unfortunately happen.

As a busy restaurant owner, you can prepare for that possibility

Coverage What it does Who it’s for Benefits
Life insurance for a buy/sell agreement Helps facilitate the transfer of ownership in the event a restaurant co-owner passes Anyone who shares ownership of restaurant with one or more owners Smooth transition of ownership and business continuity
Key person protection Provides financial assistance to a restaurant in the aftermath of a key employee’s passing Any restaurant owner whose business relies on the talents or skills of key employees, such as a general manager or and executive chef. Federal income tax-free policy proceeds to cover financial losses, cash value you can borrow against if needed, business continuity and an employee retention tool when combined with a cash value life insurance policy

 

Business Life Insurance can also help you attract and retain valued employees.

Deferred compensation plan An insurance-based retirement plan in which a restaurant owner purchases life insurance policy that accumulates cash value and can provide income later in life for employees Any restaurant owner looking to attract and retain key employees You choose the participants and level of benefits and defer taxes to the time the employee receives the income while your employee receives retirement income and a tax free death benefit
Executive bonus plan Individual life insurance to help protect the families of select key employees. At retirement, the employee  may choose to use the policy’s cash value as supplemental retirement incomeor to continue the life insurance protection Any restaurant owner looking to recruit strong candidates, retain expert employees and design a benefit plan with tax-deductible costs. An easy, cost-effective and flexible benefit program for restaurant owners to offer that offer employees retirement income from a policy that grows on a tax-deferred basis.