Insurance Services for Business Owners








Planning Services for Business Owners

For many business owners, their business is their primary retirement asset.  After many years of building a successful business they expect to convert it to an income for retirement by selling it. 

Business owners today must prepare for retirement with the same level of diversification recommended for any retirement plan. Business owners have access to a number of qualified and nonqualified retirement plan options that can provide a cornerstone for their retirement income needs.

Employee Retirement Benefits

Group of men

While you focus on encouraging your clients and business associates to establish profitable business relationships with your company, employee benefits will motivate your workforce to work hard and stay committed to your ideals.  Our emphasis is always on:

Personalized solutions - no cookie-cutter out-of-the-box plans

Solutions that help reduce benefits management & administrative cost

Plans that are low on red-tape & high on delivering real value

Plans that continue to evolve as your business grows & matures

Business Succession

When a business partner dies, the business loses a valuable asset and could suffer in the short term.  The long term issue for surviving business owners is whether the business can survive when the partner’s family members show up for their interest in the business. 

For the families of business partners, the business interest is often their biggest asset and they become the rightful owner of that interest at the death of the partner.  They will want to receive their share of the business, either in direct compensation or through their participation as an active partner in the business.

If the surviving partner does not have the capital to compensate the family for their share, their options are limited and not very attractive.  A business succession plan can provide for the orderly transfer of the business interest from the deceased’s family to the business.

Executive Compensation

Compensation Update – University of Tennessee System Human Resources

Executive talent is hard to come by, and it is even more difficult on the business when it walks out the door in pursuit of another opportunity. 

When key executives are presented with a strong monetary incentive package, they are more likely to stay and utilize their talents where they feel appreciated and appropriately rewarded.  . 

Plans such as the ones listed below enable the business to offer current and future benefits to their key executives in exchange for their continued service for a specified period of time. 

Nonqualified Deferred Compensation

Executive Bonus

Split Dollar Life Insurance

Key Employee Protection



Buying life insurance coverage on a key employee makes good business sense. The amount of coverage should be enough to cover the costs of recruiting and paying a replacement, loss of earnings to the company, any redemption of stock or a salary continuation plan arrangement with the surviving family.

To discuss your business insurance and planning needs with Hogan Financial Services, please click here or contact us by phone at 801.474.1234

Registered Representative of and securities offered through Securities Management & Research, Inc. (SM&R). Member FINRA/SIPC. Investment advisory services offered through BFC Planning, Inc. Hogan Financial Services, American National family of companies, BFC Planning, Inc. and SM&R are independent entities.  Our firm does not provide specific tax/legal advice and this information should not be considered as such. You should always consult your tax/legal advisor regarding your own specific tax/legal situation.  Separate from the financial plan and our role as a financial planner, we may recommend the purchase of specific investment or insurance products or accounts for which we may receive a commission. These product recommendations are not part of the financial plan and you are under no obligation to follow them.  Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods.

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