Other Products
NYLIFE Securities
MainStay Mutual Funds
Retirement Plan Services
Quick Links
If your business needs have changed over the past year, you may want to consider updating your insurance and retirement plans. Learn more about insurance for small business owners and other options.
Your key people are your greatest assets. Life insurance for your small business can reimburse the company for loss of services if a key person dies. If you don’t have key person coverage on your most valuable people (and that includes you), you ought to at least explore its advantages. If you already have this valuable insurance, it may be time to review it.
Questions to ask:
If you, a partner, or a key employee become disabled, the loss to the company could be just as great as if one of you died. In fact, it could be worse, because the disabled person would still require an income.
Questions to ask:
A fire, vandal, or storm can wipe out your business in minutes. Another risk is being sued. That’s why it’s important to make sure your assets are protected.
Questions to ask:
If you don’t have such a plan, perhaps this is the year to implement one. This type of employer insurance plan helps ensure that your family is appropriately compensated for the business if anything happens to you.
Questions to ask:
Deferred compensation allows you to pay a portion of an employee’s compensation at a future date. It’s an attractive incentive for select employees as well. By deferring a current raise, you can potentially get a tax break for yourself. Plus, you will be providing for your own future. As always, check with a tax professional about any potential tax implications.
Questions to ask:
Many small businesses are looking for ways to provide a retirement plan for their employees and for themselves. There are several options, including Profit Sharing Plans, Simplified Employee Pensions, and SIMPLE Plans that can help you build a retirement plan for your business.
Questions to ask:
1 Property and liability is not offered through New York Life.
This material is for informational purposes only. Neither New York Life nor its agents provide tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.