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Key Person Insurance: Life and disability insurance on the founder and key executives of the company, paid for by the company. The insurance benefits are payable to the company, providing funds to recruit new executives and deal with other disruptions to the business that result from the loss of a key player.

Buy-Sell Agreement: An agreement among business owners regarding how to dispose of the business in the event that one or more of the owners predeceases the other(s). It essentially guarantees¹ a buyer for the interest in a business or asset, especially when it is not likely to pay dividends to heirs. Under an Entity Plan, the corporation (or partnership) buys the interest of a deceased owner while a Cross-Purchase Plan is such that the surviving owner(s) agrees to buy the interest.

Disability Buy-Out Insurance: Insurance designed to provide the cash necessary to fund the buy-out of a disabled partner's interest in the event of a pre-defined long-term disability.

Business Overhead Expense Coverage: Insurance designed specifically to cover overhead expenses of a business, such as rent, utilities, salaries and more, in the event an owner is disabled. If the disability is determined to be permanent, this type of insurance often gives owners time to make critical decisions about the future of the business.

Insurance Consulting Services: Fee-based insurance consulting services for both personal and business needs.

Business Continuation Planning: A written agreement that helps guarantee the orderly transfer of a business in the event of a business owner's death, taking into account a mutually agreed upon sales price and mutually agreed upon terms of sale. This protects the interests of both the heirs and surviving owners, not to mention customers and staff, and avoids any potential conflict.

Employee Stock Ownership Plans (ESOPs): Plans that allow employees to buy shares of stock in the company, often at a favorable price and subject to restrictions on resale. Sometimes also called an employee stock option plan, where employees earn or are awarded options to purchase shares at a specified price.

Property & Casualty Insurance and Consulting Services: Corporate risk management and insurance coverage for a wide variety of situations.

¹ Guarantees are subject to the claims paying ability of the issuing insurance company.

Securities offered through Registered Representatives of NFP Securities, Inc. (NFPSI), Member FINRA/SIPC.
Investment Advisory Services offered through Investment Advisor Representatives of NFPSI.
The Ganim Group, Inc. is a member of PartnersFinancial, an affiliate of NFPSI.
The Ganim Group, Inc. and NFPSI are not affiliated.

NFP Securities, Inc. does not provide tax or legal advice. Any decisions whether to implement these ideas should be made by the client in consultation with professional financial, tax, and legal counsel.

This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFPSI may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact the NFPSI Compliance Department at 512-697-6000.