How Key-Person Life Insurance Fits in a Business Succession Plan

How Key-Person Life Insurance Fits in a Business Succession Plan

A buy-sell agreement is a contract among business owners which, upon the death of one of the owners, requires the remaining owners or the company itself to purchase the deceased’s interest in the company according to the agreed upon terms of the contract. In addition, the deceased’s heirs are required to comply by selling their inherited interest at the previously agreed-upon price. Although there are other options for funding a buy-sell agreement, the smartest method for doing so is through life insurance, most often a key-person life insurance policy. This... Read More

Protect Your Home and Health From Radon

protect your home and health from radon

Though you cannot see, smell or taste radon, it can still be present in your home. According to the U.S. Environmental Protection Agency (EPA), when you breathe radon-contaminated air, you increase your risk of developing lung cancer. In fact, the U.S. Surgeon General warns that radon is the second-leading cause of lung cancer in this country next to smoking. This problem is not isolated to one geographic area or to a certain type of house. It is estimated that nearly one out of every 15 homes in the United States... Read More

How Key-Person Life Insurance Can Protect Your Business

How Key-Person Life Insurance Can Protect Your Business

Jeff Moses, president of Auto Custom Carpets, was on his way home from a business trip in Ohio when tragedy struck. The small airplane he was riding in lost control and crashed into a creek near Talladega, Ala. The plane exploded upon impact, killing everyone on board. Jeff Moses’ death left a huge void in the company’s leadership team. Not only was Moses the president and co-owner of Auto Custom Carpets, he was also a charismatic sales leader whose product knowledge and extensive industry experience were integral to the company’s... Read More

How to Work Safely in Cold Weather

How to Work Safely in Cold Weather

Winter has officially arrived in Colorado and with it, freezing temperatures and snow. Winter weather brings with it significant health risks, especially for those who may need to work outdoors in cold weather. Among those risks are hypothermia, frostbite, dehydration and muscle injuries. Frigid temperatures can also cause additional pain for those who suffer from arthritis and rheumatism. To prevent injuries and illness as a result of winter weather, it’s important to learn about the causes, symptoms and safety considerations to take so you are prepared to handle winter’s worst.... Read More

Why You Need Cyber Liability Insurance

Why You Need Cyber Liability Insurance

One of the biggest stories of the 2013 holiday shopping season had nothing to do with the hottest toys or the increased reliance on online shopping: Hackers infiltrated Target’s point-of-sale system in December and gained access to the credit and debit card information of 40 million customers and the personal information of 70 million more. Fortunately, the Minnesota-based chain had over $100 million of cyber liability insurance, according to sources.   As technology becomes increasingly important for successful business operations, the value of a strong cyber liability insurance policy will... Read More

What to do First When a Worker is Injured

What to Do First When A Worker is Injured

When one of your employees is injured, it sets in motion a sequence of events that can last for weeks or even months. But no matter how prolonged the recovery period, the first 24 hours after an injury are the most crucial. To respond effectively to an incident, the majority of the action items should occur within 24 hours.It is essential that both you and your staff know what to do first when a worker is injured. Your supervisors may already be experienced in handling injuries. Still, a clearly defined... Read More

What You Need to Know About the ABCD’s of Medicare Benefits

What You Need to Know About the ABCD's of Medicare

Medicare is the government medical program for seniors. Medicare was instituted in 1965 to ensure that older Americans would have access to the health they needed in their retirement years. You will become eligible for Medicare at 65 and may enroll for Medicare Benefits three months prior to the month of your 65th birthday, during the month of your 65th birthday, and three months after your 65th birthday. Medicare has four parts: A, B, C, D Part A is given to you by the government and covers 80% of your... Read More

Protect Your Business with Employment Practices Liability Insurance

Protect Your Business with Employment Practices Liability Insurance

According to a recent study, more than half of all claims filed for employment-related liabilities are against employers with fewer than 50 employees. Alarmingly, the study also reveals that not even 2 percent of small businesses have employment practices liability insurance (EPLI) coverage. Employment Claims Can Be Costly Employment-related claims can be extremely costly, especially in cases that drag on for years. With a slow economy and increasing adoption of worker-friendly laws, these cases are on the rise—in fact, discrimination claims have increased significantly in the last 20 years. According... Read More

‘Tis the Season to Be Thankful–Expressing Gratitude to Your Customers

'Tis the Season to Be Thankful--Expressing Gratitude to Your Customers

This week is Thanksgiving. Thanksgiving was the first American holiday. Though it’s also celebrated in Canada, it’s pretty uniquely American.  We all know the story of the Indians and the Pilgrims and the first Thanksgiving and how it was an expression of gratitude for surviving that very difficult first year. Thanksgiving is the time when we traditionally focus on gratitude for all the good things in our lives. When you’re in business, you surely count your customers among those good things. Have you taken the time lately to let them... Read More

What Happens If I Miss Open Enrollment?

What Happens If I Miss Open Enrollment

It’s open enrollment time for health insurance and other employee benefits.Open enrollment is the time when you can enroll for the first time in your employer’s health insurance plan, change insurance coverages, and add or remove dependents. This is your opportunity to take advantage of important benefits, such as health, vision, dental and life insurance, a health savings account (HSA), and a retirement plan. If you miss your employer’s open enrollment deadline you could lose coverage for you and your loved ones and  be unable to make changes or enroll... Read More