Leave Something To Protect Your Family and Business

Life insurance is typically spoken about in the realm of protecting
your family household income, but not mentioned as much in business. We’d say it
is a critical component that businesses often overlook so we look to help bridge the
gap and shore up vulnerabilities. We know that well protected businesses thrive
under adversity, so we provide the strategies and tools that allow our clients to win
in all circumstances.

Life Insurance Solutions That Meet You Were You are at.

Key person insurance is simply life insurance on the key person in a business. In a small
business, this is usually the owner, the founders and perhaps a few highly coveted. They are
crucial to a business–the ones whose absence would tank the company. You should consider
implementing a key person life insurance policy on the people drive the success of your
company.

How Does it work?
Essentially what happens is this. A company purchases a life insurance policy on its key
employee(s), pays the premiums and is the business in named as the beneficiary of the policy. If
an insured person unexpectedly passes away, the company receives a tax-free death benefit equal to the policy coverage. The purpose of key person insurance is to help the company survive the setback that occurs when losing the person who is responsible for keeping the business operational. Small businesses often cannot afford to lose the major revenue producer, the subject matter expert or the director of operations. Hence the importance of life insurance coverage.

The Benefit
The company can use the insurance policy proceeds to cover a loss in revenue or operations until it can find a replacement person. Policies can additionally pay off debts, distribute money to investors, pay severance to employees and close the business down in an orderly manner. In a tragic situation, key person insurance does give a company a viable alternative to filing for
bankruptcy.

Insurance Solutions For Your Business

Cost-Effective Payroll Services For All Businesses

Employers trying to entice workers to remain loyal may want to focus their efforts on providing benefits which are simply too good to surrender. The overall goal is to keep your employee happy and keep them focused on being productive in your company, not someone else’s. You don’t necessarily have to throw more dollars toward benefits. By being creative, you may be able to offer more coverage for a lower cost. 

Our Core Solutions

Health Insurance

Surely you have seen advertisements for affordable health insurance and have been let down. Learn how to structure your health insurance policy to receive a refund for unused benefits, reduce overall costs and increase access to care.

Disability Insurance

Employees and ownership can have peace of mind and financial security knowing they’ll have income during incur a devastating injury or illness. Protect your investment in your business by protecting your ability to generate income. A health crisis can compromise your business and your lifestyle.

business consulting

Workers Compensation Insurance

Workers' compensation insurance provides income replacement and medical benefits to employees injured on the job. Relieving employers of the liability associated with being sued to to incidences occuring on the job.

Life Insurance

Employers can offer deep dish saving for insurance coverage every family cannot afford to do without. A huge perk for employees. Additionally, these insurances can increase in monetary value as an employee’s tenure increases.

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customer success stories

  • 5 star review  Bryon is very knowledgeable and helpful. He provides alternatives to my business own individual needs and that goes a long way. He is always motivated and works very hard for us. Would definitely recommend and give an A+ rating.

    thumb Daysi r
    4/26/2018
  • 5 star review  I’ve been working with Next Generation Payroll for about a month now and I must say this a great company. They are Convenient, Reliable, and Affordable. This company will go above and beyond to make sure your business is moving forward in the right direction! I was always told if you want your business to grow invest in it and I must say Next Generation Payroll has been a great investment for me!!

    thumb On the go Labs
    6/25/2019
  • 5 star review  Next Generation Payroll is an excellent and professional financial company. The President, Byron Jennings offers more than payroll services, and his assistance extends to financial planning, financial management, growing businesses, investments, and more. He is patient, kind spirited, informative, knowledgeable, and ahead in technology and ideas. Next Generation Payroll prices for it's services beat out all other competitors. You won't leave with unanswered questions or uneasiness in doing business with this great company.

    thumb Raquel Jones
    3/15/2017
  • 5 star review  Wonderful service, attention, and knowledge when you have payroll, HR, and other small to medium-sized businesses needs! Byron Jennings and his company, Next Generation Payroll, not only makes dealing with everyday business matters interesting and fun, but Byron's knowledge and personal attention that he gives his customers is nothing short of amazing! Thank you, Byron, for coming into our business world!! We're so happy to be your customer!

    thumb charlotte rowell
    9/01/2017

Knowledge is Power

Get informed with insights and resources from NexGen Payroll.

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Driving HR Efficiencies With Technology
How a Biden Administration Might Impact HR and the Workplace
Payroll 101: Calculating Payroll Liabilities
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