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
Our Core Solutions
Payroll
We give you the ability to securely manage and process your payroll 24/7. Working on government-funded projects? We submit your payroll reports in the appropriate format so you can meet reporting requirements in a hurry.
Taxes
Spend more time growing your business, let us file your taxes and remit payments automatically. We will promptly handle and file all federal, state, and local tax deposits. We file the following forms: 940, 941, W-2’s, W-3, 1099 + State & Local
Human Resources
HR roles can be customized and assigned to anyone by access level, role, or location.
Time Management
Record all aspects of employees/contractor time, salary, bonus/commission structure and PTO.
customer success stories
-
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!! 
On the go Labs
6/25/2019 - These guys were very helpful. I just started my own business and I get paid 1099 as a contract workers. They calculated the estimated taxes I will owe the IRS this year and showed me how to pay them online free of charge. I didn't even sign up for payroll and the still helped me anyeah. Great company, thanks for the support.
Zachary Horace
8/02/2017 - 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!!
On the go Labs
6/25/2019 - Superior service and unparalleled commitment to doing what's best for their customers!
TJ MCDOW
2/18/2019
Knowledge is Power
Get informed with insights and resources from NexGen Payroll.
