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Business Owners Life Insurance



We offer the following services for business owners:

  • Business Owners Life Insurance
  • Executive Bonus Plans
  • Key Man Insurance
  • Buy Sell Agreement Funding
  • Premium Financing
  • LegalShield - Family and Business Legal Plans

Business Owners Life Insurance

We offer many different forms of life insurance for business owners. Life insurance can be used to pay debt, loans, insure a key employee, fund a buyout or buy/sell agreement to make sure the business owners family is taking care of. You can read up on the different types of business owners life insurance below.

Term Life Insurance

​Term life insurance has long been the financial product to which businesses, families and individuals have turned when they need large amounts of life insurance coverage at a minimal initial expense. Term life insurance provides coverage for a period of time, most common coverage periods are for 10, 20, and 30 years. Because it is “pure” insurance coverage –there is no buildup of cash value – term life insurance may be an ideal way to meet current, and often critical, insurance needs at affordable rates. This can be especially true for young families or new businesses just starting out. Lots of policies offer a built-in conversion feature and this is why term life insurance is often used as a stepping – stone to a permanent plan. Before purchasing this type of coverage, however, be sure that the term policy – and the company you select – can protect your options for both the short and long duration. 

Indexed Universal Life Insurance

​Indexed universal life is a form of universal life insurance and is considered to be one of the most flexible types of life insurance. This flexibility allows you to adjust the amount of your policy coverage, (also called the face) amount, and the premiums you pay. You also have the potential to build cash value in your policy and if enough value accumulates, you may even be able to stop paying premiums. Or, you can continue to pay additional premiums to accumulate even more cash value that you can access through policy loans and withdrawals later in life. Indexed Universal life polices can offer:

  • Tax Free Retirement
  • Double digit upside potential in good years and downside protection from loss in bad years.
  • Income for Life
  • Living Benefits
  • Death Benefit​

Key Man Insurance

What would happen to your business if your most important employee/employees died? Would your business be ok? How long would it take you to train and replace your most important employees? Key man insurance may be the solution to this problem.

Benefits Include:

  • Death Benefit Paid to the business owner
  • Business Owner is the owner of the policy
  • Can provide cash to pay for lost profits and training of a new key employees
  • Some policies can provide accelerated benefit riders that offer access to the death benefit in the event of a qualifying terminal, chronic, critical illness or critical injury. This can provide money for your employee when they become ill. This can be a benefit to your employee in their time of need.
  • Policies can be designed to build cash, so if additional money is needed for the business, the business owner will have access to this.

Buy Sell Agreement

  • ​What will happen to your business if you or a business partner dies, becomes disabled, or severely ill? ​
  • What will happen to your family if you are no longer able to work/run your business due to a disability, severe illness, or even your death. Will your family still be able to benefit from the cash flow of business?

Many businesses may go out of business following one of these events and the families of these business owners may be left unprotected and in a bad place.  A business succession strategy using a properly structured buy-sell agreement can help you protect your family and your business. Life insurance is one of the lease expensive and easiest ways to fund this agreement.  

​A buy-sell agreement may:

  • Provide liquidity for your family
  • Create a guaranteed market for your business interest
  • Allow those who are interested in continuing your business to do so without interference
  • Set the purchase price and terms of payment in advance 
  • Establish the value of your business for federal tax purposes
  • Specify how the transfer will be funded
  • Improve access to credit
  • Provide greater retirement security 


Executive Bonus Plan

How would you like a tax-advantaged strategy that allows you to...

Reward yourself and your key employees

Help contribute towards a secure retirement

Some executive benefit plans can provide benefits in case you die too soon, live too long or become ill

Benefits to Business 

Flexible contributions and multiple designs are available

May select among employees and may include business owner employee as a participant

Bonused dollars are tax-deductible to the company as compensation

Simple to implement: no IRS approval required

Provide incentives to reward and retain key employees Benefits to Business Owner and Key Employees

Receive a valuable benefit 

Participant owns the life insurance policy and selects their beneficiary

Potential for retirement income through tax-free loans and withdrawals

Some policies have accelerated benefit riders that offer access to the death benefit in the event of a qualifying terminal, chronic, critical illness or critical injury

Pick  the amount and time of distribution 

Beneficiaries can receive an income tax-free death benefit

Premium Financing

The life insurance industry and the banking industry came together to design a benefit  for individuals and or business owners that have a net worth in excess of 5 million. Someones network allows them to leverage their money, without taking away their cash flow. If you are looking to leave 10 million or more behind for your loved ones or build cash for retirement than premium financing maybe for you.

How premium financing works:

  • Bank loans the money for the life insurance policy premium
  • Interest earned from the life insurance policy (usually using an Indexed Universal Life Policy) pays the bank back
  • Once the bank is paid back, what left is a fully paid for life insurance policy
  • Individual/business owner, own the policy
  • Choose who will receive the death benefit
  • Use the cash value from the policy for tax free income through loans, or whatever you choose to use the money for
  • Some policies can provide accelerated benefit riders that offer access to the death benefit in the event of a qualifying terminal, chronic, critical illness or critical injury.

For more information on any of the above products. Give us a call or fill your information in below.

Business Owners Request for More Infomation

Business Owners Life Insurance Request form

Secured First Financial

7215 Bosque Boulevard, Suite 104, Waco, Texas 76710, United States




09:00 am – 05:00 pm


09:00 am – 05:00 pm


09:00 am – 05:00 pm


09:00 am – 05:00 pm


09:00 am – 05:00 pm