Discover financial solutions that protect your future and provide peace of mind. Whether you're exploring annuities, life insurance, or understanding employee benefits through your workplace, Pacific Life offers resources and products designed to meet your personal and family goals.

Support your workforce with innovative employee benefits and retirement solutions. Pacific Life partners with business owners, benefits administrators, and pension fund managers to create customized programs that attract and retain top talent while securing their financial future.

Simplify complex retirement and pension risk management with our tailored solutions for large organizations. Pacific Life specializes in working with institutions to address their unique challenges, offering expertise in pension de-risking and strategic retirement planning for a more secure future.

Empower your clients with confidence by leveraging Pacific Life’s comprehensive portfolio of financial products. From annuities to life insurance, we provide the tools, resources, and support to help financial advisors and brokers deliver exceptional value and long-term results.

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  • Individuals

    Discover financial solutions that protect your future and provide peace of mind. Whether you're exploring annuities, life insurance, or understanding employee benefits through your workplace, Pacific Life offers resources and products designed to meet your personal and family goals.

  • Employers

    Support your workforce with innovative employee benefits and retirement solutions. Pacific Life partners with business owners, benefits administrators, and pension fund managers to create customized programs that attract and retain top talent while securing their financial future.

  • Institutions

    Simplify complex retirement and pension risk management with our tailored solutions for large organizations. Pacific Life specializes in working with institutions to address their unique challenges, offering expertise in pension de-risking and strategic retirement planning for a more secure future.

  • Financial Professionals & Brokers

    Empower your clients with confidence by leveraging Pacific Life’s comprehensive portfolio of financial products. From annuities to life insurance, we provide the tools, resources, and support to help financial advisors and brokers deliver exceptional value and long-term results.

How do I…

Protect and grow my business?

You want your business to maintain its competitive edge. Attracting talent and building a succession plan for the future means you can help ensure your business stays in stable hands.

You want your business to maintain its competitive edge. Attracting talent and building a succession plan for the future means you can help ensure your business stays in stable hands.

Your business represents countless hours of planning and plenty of hard work. You want to protect it—now and after you’re gone, from retaining your workforce and improving operating expenses to writing a succession plan. We have resources that can help promote the growth, success and longevity of your business.

What constitutes a strong protection plan for my business?

A business protection plan guards the enterprise against the unexpected. It also lays out a clear plan for the future. Your plan addresses the following: lining up the next generation of leadership; a buy-sell agreement, which leaves no ambiguity about future ownership of the company; and protections and benefits for employees, so your company attracts—and retains—a strong workforce.

Source:
Deloitte Business Succession Planning

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Does my business really need a formal succession plan?  

Yes. It’s as tempting to put off crafting a succession plan as it is to put off writing a will. But you cannot assume everyone knows your wishes about the future of your company. Not spelling things out could lead to confusion and frustration that ultimately harms the business—and tarnishes your legacy as a business owner. So, move succession planning up on your to-do list. 

Source:
Wilmington Trust, “Wilmington Trust Survey Reveals Vast Majority of Business Owners Unprepared to Sell Business or Transition, Even as Many Approach Retirement Age”

How can I ensure a smooth transition after I’m gone?

A buy-sell agreement makes things clear and easy. This document is a legally binding contract that smooths the transition of business ownership. It also protects your family and the business by outlining a clear path for distribution of the business owner’s share. Getting such an agreement in place eases everyone’s minds and infuses the leadership group with confidence about the future of the business. 

Source:
Deloitte Business Succession Planning

Customer Story

5 Elements of a Strong Succession Plan

Could your company thrive without you? Keep your business growing and strong—and your family protected during the transition.

View our infographic illustrating 5 elements of a strong succession plan.

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Products to Protect Your Business

Cash Value Life Insurance

Offers death benefit protection with tax deferred cash value build up, and tax-free access to the cash value via policy loans and withdrawals.

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Find a Financial Professional

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Frequently Asked Questions

How may I transition the ownership of the business?

Without proper planning, the sudden death or disability of a small business owner may have a devastating impact on the business, the business’ employees, and the other business owners. It may also have a significant financial impact on the business owner’s family. A properly structured business continuation plan (i.e. a buy-sell agreement) funded with life insurance may help to minimize the impact for both the business and the business owner’s family. Talk to your financial professional to learn more.

What is a business continuation plan for a business with many owners?

Because a business with multiple owners may need flexibility, there are a variety of ways to structure a buy-sell arrangement, including Entity Purchase Buy-Sell, Cross-Purchase Buy-Sell, Wait-and-See Buy-Sell, and a One-Way Buy-Sell. Talk to your financial professional to help you discover what strategy may be right for you based on your business planning needs.

How do I help protect my business against the loss of a key employee?

The success of a business may hinge on the ideas and leadership provided by a key executive. The sudden death of that key executive may have a severe economic impact on the business due to the loss of that executive’s unique skills and abilities. Additionally, the business may have to spend substantial amounts of cash to recruit and train the replacement executive. A prudent strategy to protect the business during the transition period is key person life insurance. Talk to your financial professional for details.

How can my business stand out in today's competitive climate?

Whether you are looking to provide your employees a comprehensive 401(k) or a plan that incentivizes key employees only, you may fund a variety of customized solutions with our mutual funds, annuities, and life insurance. We offer professional, consultative support and quality financial products to help you complete your employee benefits package. Talk your financial professional and qualified and independent tax and legal advisors for details.

How can I help provide a comfortable retirement for my employees?

Inadequate retirement savings is not only a concern for the owners and employees of a business but also for their families. For those close to retirement, the problem can be two-fold: how to provide for their families and how to save for retirement in a limited timeframe if the employee dies prior to retirement. A split-funded defined benefit plan funded with life insurance and other assets/investments may be able to provide both meaningful death benefit protection and supplemental retirement benefits. Talk to your financial professional to help you discover if this or another strategy using life insurance or another financial product may be right for you based on your business planning needs.

What if I want my business to end up being employee-owned?

One way to plan is with an Employee Stock Ownership Plan (ESOP). An ESOP is a special type of qualified profit-sharing plan that invests primarily in employer securities. If an S- or C-Corporation owner doesn’t have an heir, co-owner, or outside buyer interested in taking over the business, or wants the business to end up being employee-owned, an ESOP may be an effective vehicle for creating a source of funds to purchase the owners’ interest in the company. Not only does the ESOP create a buyer for the business owner’s stock but a C-Corporation business owner (but not an S-Corporation owner) can use the sale proceeds to purchase “qualified replacement property” [IRC Sec. 1042(c)(4)(A)] and defer taxation on the sale of the stock to the ESOP. This allows a C-Corporation owner to sell part or all of the business to the ESOP without immediate taxation and use the proceeds to diversify assets through the purchase of qualified securities. Consult with your independent legal and tax advisors for additional details.

How can I protect my business from estate taxes?

Typically, there are two ways to plan. One is the use of life insurance within an irrevocable life insurance trust (ILIT) and the other is the use of business assets to pay life insurance premiums and hold the life insurance as a business-owned asset used in a buy-sell arrangement (entity redemption). The determination is generally based on your estate tax liability and other tax considerations. Consult with your independent legal and tax advisors for additional details.

INSIGHTS TO HELP YOU MEET YOUR GOALS

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Family / Estate Planning

Ensuring a Smooth Transition for Your Family Business

A plan that includes life insurance can help provide liquidity and equality in a family business succession.

Readschedule 4 MINS
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Estate Planning / Family

Finding a Way to Hand Over a Family Business

Creating a detailed succession plan is paramount for a smooth and profitable transition.

READschedule 7 MINS
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Estate Planning / Family

Protect Your Loved Ones With an Estate Plan

Taking a proactive approach to passing on your assets can help bring peace of mind to you and your family.

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Life insurance is subject to underwriting and approval of the application and will incur monthly policy charges.

In order to sell life insurance, a financial professional must be a properly licensed and appointed life insurance producer.

The primary reason for life insurance is death benefit protection.

Pacific Life, its affiliates, their distributors and respective representatives do not provide tax, accounting or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor or attorney.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product/material availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues.

Pacific Life's Home Office is located in Newport Beach, CA.

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