Business Insurance
Let North Central Investment Services help you protect your family and company’s financial future. Some of the types of business insurance you may consider:
The owner of a business holds the most important position in a company and his or her status must be protected with business owner life insurance. If that principal business member dies, life insurance can be used to cover estate taxes and help protect a company from bankruptcy. By owning a business owner life insurance policy, you can provide for the needs of your employees, your business, and your family.
Many companies with more than one owner establish a buy-sell agreement which determines how ownership of the business transfers if one owner dies or becomes disabled. Buy-Sell Life Insurance and Disability Insurance is a type of business insurance used to fund buy-sell agreements.
Key person insurance is needed if the sudden loss of a key executive would have a large negative effect on the company's operations. The payout provided from the death of the executive essentially buys the company time to find a qualified person, or to implement other strategies to preserve the business. The company pays the premiums and is the beneficiary of the policy.
These plans help you recruit, retain and reward your top talent. Many of these non-qualified plans (including supplemental executive retirement plans (SERP), Split Dollar Arrangements, Executive Bonus, and Business Owner’s Bonus Plans) use life insurance to fund the benefit; oftentimes in a tax efficient manner to either the business or the beneficiaries.
Having a competitive benefits package can help your company attract and retain valuable employees. One of the ways to do this is by providing your employees an affordable way to purchase life or disability coverage. Contact us for more information about incorporating cost-effective group life and/or disability insurance into your benefits package.
For more information about North Central Investment Services, Business Succession Planning, and Business Insurance, contact Lou Wasilewski at 815-894-2386.
You Should Know
Check the background of investment professionals associated with this site on FINRA's BrokerCheck.
North Central Bank "Financial Institution" provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services. https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html
The North Central Investment Services site is designed for U.S. residents only. The services offered within this site are offered exclusively through our U.S. registered representatives.
Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. North Central Bank and North Central Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using the name North Central Investment Services and may also be employees of North Central Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of North Central Bank or North Central Investment Services. Securities and insurance offered through LPL or its affiliates are:
Not Insured by FDIC or Any Other Government Agency | Not Bank Guaranteed | Not Bank Deposits or Obligations | May Lose Value |
LPL Financial registered representatives associated with this site may only discuss and/or transact securities business with residents of the following states: IL, AZ, CO, CT, FL, GA, IN, MD, MN, NC, NE, and OH.
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