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Helping You Master the Many Challenges of Small Business Ownership

As a small business owner, you wear many hats: human resources, marketing, technology, customer service, accounting, payroll and management — just to name a few. Western & Southern can lend a helping hand by offering you assistance with insurance, retirement planning, employee benefits and more.

Small Business: Financial Solutions That Work Hard for Hard-Working Owners Like You

As a small business owner, you fuel the economic engine of our country. According to the U.S. Small Business Administration Office of Advocacy, 28.8 million small businesses made up 99.7 percent of U.S. employer firms and employed 56.8 million people, or 48.0 percent of the private workforce, in 2013. Small businesses are the backbone of our economy.

Western & Southern appreciates your unique challenges. Whether it's being able to retain talent, maximize the value of your business or manage rising healthcare and health insurance costs, our financial professionals are ready to work with you. We can help you create a strategy for how to prepare for your retirement, develop a contingency plan if the unexpected happens and exit your business while preserving its value. Let us help you work through challenges every small business owner may have to face:

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Key Person Insurance: Protecting Your Business in Case of Unexpected Loss

Every business has essential employees who drive its success. Some people are truly irreplaceable. What would you do without your Chief Financial Officer for instance? Experiencing the sudden loss of a key staffer can have dramatic repercussions on your day-to-day business operations and profitability. By helping protect your business from the unexpected death or disability of a principal employee, key person insurance can help your business to continue running smoothly.

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Retirement Plans: Taking Care of Your Own Financial Security

How will you plan for your own personal security in retirement as well as the future success of your business? If you are the original owner who started the business from the ground up, you probably feel quite attached to it. You might experience reluctance about retiring and letting go of your active role in the business. But you deserve to retire at some point, too. After all, you've earned it. Our retirement planning strategies can help support your taking the plunge.

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Pension Risk Transfer: A Solution to Dealing With Pension Plan Uncertainties & Volatilities

Employee pension plans can be risky, expensive and time-consuming to manage. How would you like to have extra time and money to focus more on the main activities of your business? Pension risk transfer may help you accomplish just that. We can help you consider an alternative to a traditional pension plan in which pension benefits typically paid to your pension participants are replaced with annuity payments. Doing so can help reduce investment risk and administrative time and expense for your company.

HOW IT WORKS

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IMPORTANT DISCLOSURES

1A Buy-Sell Agreement identifies actions to take in the event a co-owner dies, is forced-out or chooses to leave the business. An attorney can assist with the Buy-Sell Agreement to ensure it is legally binding and a financial representative can assist with product selection. Each business owner purchases a life insurance policy on each of the other owners. When the owner dies, the surviving owners use the death benefit to purchase the deceased owner’s share of the business. Products issued by The Western and Southern Life Insurance Company and Western-Southern Life Assurance Company and other life insurance member companies of Western & Southern Financial Group can help meet these needs.

2Key Person Insurance provides a death benefit to employers in the event of the death of a key employee to ensure the business can continue. A financial representative can assist with product selection and help to determine the amount(s) needed on each key employee to help ensure business remains operational. Products issued by The Western and Southern Life Insurance Company and Western-Southern Life Assurance Company and other life insurance member companies of Western & Southern Financial Group can help meet these needs.

3A Business Transfer allows the ownership of a business to be gradually transferred to other individuals. Attorneys and Tax Accountants would be able to assist with this concept. A financial representative could assist if the need for life insurance, annuities or investments would be required. Products issued by The Western and Southern Life Insurance Company and Western-Southern Life Assurance Company and other life insurance member companies of Western & Southern Financial Group can help meet these needs.

4Retirement Plans create a plan for retirement funding. Life insurance and annuities can help with retirement planning. A financial representative can assist with product selection. Products issued by The Western and Southern Life Insurance Company and Western-Southern Life Assurance Company and other life insurance member companies of Western & Southern Financial Group can help meet these needs.

5Pension Risk Transfer allows a company to transfer their pension risk to another financial institution for handling. The PensionAssistTM product is handled only by the Financial Planning department. No financial representatives are allowed to sell this product. This product is a single premium group annuity issued by Western-Southern Life Assurance Company.

6BenefitsPLUS can provide life insurance to small businesses and help the business retain employees. A financial representative can help the employees with product selection. Small businesses can allow a financial representative to visit employees to sell life insurance to them. Products issued by The Western and Southern Life Insurance Company and Western-Southern Life Assurance Company can help meet these needs.  

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