Succession planning allows owners to leave their business on their own timeframe while preparing their company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business.

Key person life insurance offers a death benefit that helps indemnifies an employer for the loss of one of its most important assets - the key person. This can help assure continuity of the business for employees, customers, creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the employee.

A buy–sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money when the event is triggered.

Deferred compensation is a written agreement between an employer and an employee where the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed back to them at a pre-determined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees.

Through New York Life's employee benefit products, we can help you invest in a strong workforce. Our suite of group and voluntary products help offer employees and their families financial security and peace of mind. The plans include flexible options, affordable protection and the best-in-claims servicing.

We offer all of the education courses listed on our site as a corporate financial wellness benefit. Below are links to our courses:

Financial Strategies for Successful Retirement
Taking Control Financial Strategies for Women
Financial Management Six Steps to Financial Success
Tax Favored Investing
Saving and Investing 20/20

401(k) Plans
SIMPLE Plans
SEP IRA Plans
Roth 401(k)