Your business is your legacy. You've built it, nurtured it and poured your life into it. Life insurance can help keep your business going if you're gone, providing coverage for buy-sell agreements and, in some cases, build a cash value that you can borrow against if things get tough.
Click on the considerations below to learn how you can protect your great American dream with life insurance.
Buy-sell agreements
Coverage for key employees
Retirement accounts for employees
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Term life insurance
When a business partner dies unexpectedly, the remaining partners are often faced with difficult decisions. If you and your partners have a buy-sell agreement, you may need to consider purchasing the deceased partner’s share of the business from his or her heirs. In the event of an unexpected loss, would your business have funds available to keep your business going?
Gleaner Life Succession Term provides coverage for multiple business partners with one premium payment. The loss of a partner can be difficult, but succession term provides security for buy-sell agreements, giving you and your business partners the confidence that funds will be available should the need arise. Succession Term eliminates excess expenses, providing maximum coverage at minimum cost.
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Succession Term
Gleaner Life Succession Term provides coverage for multiple business partners with one premium payment.
Secure Life
Secure Life provides all the benefits of whole life insurance, including permanent coverage, cash value and dividends.
Flexible-Premium Annuities
Flexible-premium annuities allow you to contribute funds over time, slowly building income for retirement.
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Whole life insurance
Partners are not the only people integral to your company’s success. You may also have talented individuals on your team in whom you’ve invested. If they were to pass unexpectedly, would you struggle to keep business moving forward without them? Do you have a succession plan to deal with the unexpected loss of a key employee?
Whole life insurance provides permanent coverage for employees. In addition, whole life insurance also builds cash value. When the insured employee nears retirement, you could roll this cash value into his or her retirement account. You could also use the cash value to fund a signing bonus for his or her successor. Either way, Gleaner’s Secure Life provides you with peace of mind knowing that your key employees have permanent life insurance coverage.
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Succession Term
Gleaner Life Succession Term provides coverage for multiple business partners with one premium payment.
Secure Life
Secure Life provides all the benefits of whole life insurance, including permanent coverage, cash value and dividends.
Flexible-Premium Annuities
Flexible-premium annuities allow you to contribute funds over time, slowly building income for retirement.
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Fixed annuities
A balanced retirement plan features both variable and fixed assets. While your employees’ 401(k)s may provide both variable assets (like stocks) and fixed assets, only fixed annuities can provide both the guarantee of a minimum interest rate and a permanent stream of retirement income.
Fixed annuities provide a guaranteed minimum interest rate. If you offer your employees a 401(k) retirement account, Gleaner’s Foundation 9 annuity can be an integral add-on, providing the fixed portion of your employees’ retirement. Even more, annuities provide guaranteed income for life. That means that if your employees choose the income for life option when they annuitize, they will continue to receive retirement income even if they have exhausted the funds from their annuity.
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Succession Term
Gleaner Life Succession Term provides coverage for multiple business partners with one premium payment.
Secure Life
Secure Life provides all the benefits of whole life insurance, including permanent coverage, cash value and dividends.
Flexible-Premium Annuities
Flexible-premium annuities allow you to contribute funds over time, slowly building income for retirement.
