Business Life Insurance

Best Life Insurance Houston provides a full range of business life insurance plans.

Most small businesses offer medical and prescription insurance benefits to their employees but not life insurance. Although it may seem like it only helps your employees, life insurance policies provide critical protection to your business, too.

At Best Life Insurance, we offer policies for buy/sell agreements, keyman life insurance, living benefits, and more. Our experienced agents will personalize your policy to ensure it perfectly fits your business needs.

Which business life insurance is right for you?

Buy/Sell Agreement

Ensure your company’s legacy is held with those you trust following an owner’s death, disability, or other life-changing events.

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Keyman Insurance

Protect your business from potential losses that may arise if an executive or top-performer passes away.

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Executive Bonuses (Life Insurance)

Reward your executives and foster company loyalty with a permanent life insurance policy that builds cash value.

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Living Benefits

Offer your employees an add-on to their life insurance policy that provides financial assistance during their final days.

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Employee Life Insurance

Offer life insurance policies to your employees that will encourage company loyalty and put their minds at ease.

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Affordable, valuable policies

At Best Life Insurance, we offer life insurance policies for more than just personal reasons. We provide coverage that protects your business from potential financial crises. From securing your company’s future as a whole to covering employees, we will work with you to create the best policies for your company.

Typical reasons companies buy life insurance policies include:

  • Secure company’s legacy
  • Protect the company from losing money
  • Create a financial buffer in the event of a key employee or owner’s death
  • Reward executives with tax-deductible bonuses
  • Foster company loyalty
  • Encourage recruits to sign with the company

There are many more benefits to enrolling in life insurance policies, and Best Life Insurance is here to help. Give us a call today to find out how life insurance can protect your company and foster working relationships.

Buy/sell purchase agreements

If you’re starting up your company, you’ll need to look into creating a buy/sell agreement. These purchase agreements are legally binding contracts that serve two purposes. First, the contract delineates what will happen to an owner’s market share if they become disabled, die, or leave the company. Second, it creates funding to buy back a deceased or disabled owner’s market share.

Using life insurance as funding for your buy/sell agreement is the best way to guarantee your company gets a return on its market share. Should an owner die, your company or all remaining owners would receive a payout large enough to buy the market share directly from the owner or the deceased owner’s heirs.

Best Life Insurance can guide your company through life insurance options that fund your buy/sell agreement. Together, we’ll create an entity-owned, co-owned, or hybrid life insurance policy. Visit our Buy/Sell Agreements page to see how Best Life Insurance can help you today.

Key employee insurance

Your company’s key employees are your top performers or critical employees. They are considered so important that the company’s financials could be in jeopardy if they should die. For example, if the key employee is critical enough, your company may go bankrupt.

Common examples of keyman employees include executives, brand representatives, loan holders, primary design contributors, and more. If one of your key employees should suddenly pass away, a keyman life insurance policy would give you a payout. That way, your business can gather its bearing while working to find a replacement.

Find out more information about our Keyman Insurance policies here.

Executive bonuses via life insurance

Traditional bonuses are placed directly into an employee’s bank account. With an executive bonus life policy, or section 162 policy, you give bonuses through a life insurance policy. Usually, employers choose either whole life or indexed universal policies. By definition, bonus life policies are an incentive to retain your executives.

Your company will pay the bonus policy’s premiums, and your executive will both own the policy and be the direct beneficiary. As they are permanent, the plans will build up cash reserves. However, you can create restrictions to prevent your top team from withdrawing the cash value until they reach specific goals or retirement.

Best Life Insurance can help you decide and create the best policy restrictions that will reward and retain your executives. Visit our Bonus Life Insurance page to learn more.

Living benefits

Another way to retain employees and encourage recruits is to offer a living-benefits life insurance add-on, or rider. The plan provides a payout to those who qualify for help cover care expenses during an employee’s final days.

Living benefits are provided to someone who has gone through a trigger or major life event. A physician must submit information that verifies your employee qualifies for the assistance. There are three ways an employee can be eligible for living benefits:

  • Terminal illness
  • Critical illness
  • Chronic illness

Further, your employee must already have a life insurance policy in place. The living benefits payout is drawn from their current life insurance plan. In brief, a living benefits policy allows your employee to withdraw some of their death benefits before they pass away. More information on our Living Benefits plan is available here.

Employee life insurance

Most of the time, employers offer their full-time employees healthcare and prescription insurance benefits and skip life insurance. However, adding life insurance benefits to your package can attract recruits and encourage your current employees to stay with the company.

With group life insurance, you’ll provide life insurance at a low cost to your employees. Many employees love the convenience of a company-created life insurance plan. Further, they can choose to increase their coverage options at no additional cost to you. Visit our Employee Life Insurance page to learn more about our coverage options.


Enroll in life insurance for company-wide peace of mind

At Best Life Insurance, we know choosing whether to buy life insurance for your company can be difficult. Further, you may wonder which policies to choose for your company’s unique needs.

Best Life Insurance is here to help. Our team has over 15 years of collective experience in the industry and will guide your business down the right path. We are passionate about helping our clients, and we know no two companies are alike. That’s why we work with you to personalize your life insurance policies.

Not sure where to start? Fill out our unique form and we will find the best life insurance for you.