Identifying, assessing and prioritizing risk remains an essential ingredient in all successful corporate planning. The Bay West Group Inc. corporate Clients rely on our expertise in assisting them on critical issues such as salary continuation planning and corporate critical illness arrangements.
The Bay West Group Inc. works with trusted advisors as part of our Corporate Services Team. Each team member brings in-depth understanding and specialized experience in building and protecting corporate wealth.
Our corporate risk management services include:
- Salary continuation planning – we help employers design and execute a plan that ensures an owner's or employee's continued income at retirement, disability or death. We also help employees understand the features and benefits of this kind of program, and what it means to them and their families.
- Corporate critical illness insurance – we develop this corporately owned policy for employers to offer to their shareholders or partners in the event that they develop an unexpected illness or disability that would cause financial strain on the company.
- Health Care Spending Accounts/Private Health Services Plans
- Employee benefits programs – a key to attracting and retaining valuable employees. We work hand in hand as benefits consultants to the business owner and their employees to design and implement effective and dynamic health & wellness and dental plans.
- Buy-sell funding – for both owners and key executives to ensure the continuity of a business in the event of disability, critical illness or death. We design and implement plans as part of the buy-sell agreement where the business itself buys separate life, disability &/or critical illness insurance policies on the lives of each of the co-owners/key executives. This ensures a smooth transition of ownership, funded by insurance claims should the need arise.
- Key person funding – similar to buy-sell funding for business owners and key executives, this insurance plan is taken out on employees who are critical to running the business. These plans help minimize the disruption in business which could lead to a drop in sales and profits.
- Tax and estate planning – as part of the plans we put together for our clients tax and estate needs, we often incorporate life insurance as a source of support and coverage to fund final taxes payable, expenses, funding for buy-sell agreements and even retirement plans.