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.

A Payroll Solution For Your Business

Cost-Effective Payroll Services For All Businesses

Make payroll processing hassle-free with the help of Next Generation Payroll. Discuss your businesses needs with us and we will gladly work with you to develop a customized solution to help you to streamline your operations and improve administrative efficiency. Schedule a consultation today! Contact us to learn about the unique benefits we offer and what makes us different from the other payroll companies.

Our Core Solutions

customer success stories

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.

Raquel Jones
3/15/2017
Superior service and unparalleled commitment to doing what's best for their customers!

TJ MCDOW
2/18/2019
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.

Daysi r
4/26/2018
I recently started doing my payroll with next generation and I have had no issues every since switching to this service. Brian has been fantastic about any questions or concerns that I had, I strongly recommend his service to any company large or small who wants to spend less time and money doing payroll. They aren't just limited to payroll, they also helped with my H.R. and insurance issues! great company!!!!

Ray J
7/20/2017