919 S. 25th East, Suite 130, Ammon, Idaho 83406

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Requesting A Call: (208) 529-1522

Eagle Cap Insurance

An independent agency providing personalized health, life, Medicare, and business insurance solutions, helping individuals and businesses find the right coverage for long-term protection and peace of mind.

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Ammon Office: 919 S. 25th East, Suite 130, Ammon, Idaho 83406
Preston Office: 655 South 4th St., East, Suite 102, Preston, Idaho 83263
(208) 529-1522 (for both locations)

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Not all health plans are created equal, featuring a comparison of comprehensive coverage versus exposure, illustrated by healthcare professionals and insurance symbols, with Eagle Cap Insurance branding.

Business Insurance · Idaho Falls & Preston

What is business continuation planning?

Simply, business continuation planning is developing – and then implementing – a plan of succession. Usually called a “buy-sell” agreement, proper business continuation planning answers the question: Who will take over my business should I die prematurely, become disabled, or simply decide to retire.

Business continuation planning

Start with a buy-sell agreement

If you’re a business owner and you don’t have a buy-sell agreement, you may not have planned sufficiently for the future.

Depending upon how your business is owned, a buy-sell agreement can be established between:

You and your parents.
Your business and its owners.
You and other family members.
You and key employee or employees.

A properly structured buy-sell agreement will:

Pre-determine who will receive your business.
Set the purchase price and terms of payment.
Establish the value of your business for federal tax purposes.
Specify how the transfer will be funder.
Provide the cash needed to pay federal and state death taxes, debts, and other estate settlement costs.

Other Planning Options

Here are a couple other business planning options:

Executive Bonus Plan

Reward and retain a key employee with a taxable bonus the employee may use to own and fund a life insurance policy.

Nonqualified Deferred Compensation

Promise selected employees compensation that will be paid in a later year, with retention and retirement-planning uses.

Kyle Bennett
Licensed Agent · Eagle Cap Insurance

Talk to a business insurance advisor

Business Continuation Planning: Buy-Sell Agreements Explained

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Health Insurance

Plan comparison, preventive care guidance, individual and family plans, and Medicare support.

Life Insurance

Term, whole and universal life options, and Economic Life Value planning for families and owners.

Disability Insurance

Income protection, disability plans, business continuity, and self-employed coverage.

Medicare

Medicare plans, prescription coverage, enrollment guidance, and annual reviews.

Google reviews

What clients say about working with us

      EXCELLENT  
   Based on 17 reviews 
    
 
 
 
   
 
 
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   Greg Harvey 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kyle Bennett made my whole experience easy to understand and he literally walked me through the process to find the best plan for my family. Thanks again Kyle!
  
 
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   Jeff Munn 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kyle handles our medical insurance extremely well.  It’s great for us because we don't worry about it being taken care of, it’s just done for us. Kyle also gives us options and keeps us updated with changes and cost increases.

Highly recommend!
  
 
      Posted on Google  
   
   Sam Leesch 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kyle at Eagle Cap Insurance is more like a friend to me than just my insurance agent. He genuinely cares about my well being and is not just trying to sell me insurance. He was great at helping me navigate the transition from my work provided plan to Medicare at a time when I was having major health issues. He proactively calls me every year to check in and go over my options during open enrollment, insuring I have the best, least expensive coverage for my specific needs. He truly is a pleasure to work with and I greatly appreciate everything he has done for me.
  
 
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   Laurie Blood 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kyle Bennett at Eagle Cap Insurance is so awesome.  He is always so on top of my insurance needs and compliance and he is so kind, patient and helpful.  I am really lucky to have him as my insurance agent.
  
 
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   John Carpenter 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kyle and his staff are extremely knowledgeable and helpful.  I appreciate all they have done to make sure I am aware of the best insurance values for me.
  
 
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   Troy Terry 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kyle Bennett is our agent and  he is great to work with. We explain our situation, Kyle gives us a few different choices plus makes suggestions for us to consider. Then he takes care of the on-line  paperwork. Just  push the easy button! Use Kyle at Eagle Cap Insurance.
  
 
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   Bruce Nyborg 
 
 
 
 Trustindex verifies that the original source of the review is Google. My agent is always ready to help in anyway and has taken of my insurance needs. He is very knowledgeable and understands what is needed for my security and protection.
  
 
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   kate jones 
 
 
 
 Trustindex verifies that the original source of the review is Google. Eagle cap insurance is awesome to work with.  Kyle is very thorough in going thru my options for health insurance every year.  I feel very confident in choosing as I know what each one offers. Thank you so much for always staying in touch and helping me each year to decide.
  
 
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   Ralph Perez 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kyle at Eagle Cap is very conscientious, and careful with all the details. He provides excellent service and lets us choose the best options for our own individual circumstances. Friendly and welcoming is my sentiment.
  
 
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   Cozzett Allen 
 
 
 
 Trustindex verifies that the original source of the review is Google. Kyle Bennett has been helping us with insurance for a long time now. He is pleasant to work with and has my best interest in mind.
The office is always very friendly and helpful!

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Protect what you’ve built

Group benefits, buy-sell funding and key-person coverage tailored to your operations and team.

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Importance of Business Continuation Planning

Business continuation planning is crucial for ensuring that a company can survive and thrive in the face of unforeseen events. This type of planning not only prepares for the transition of ownership but also safeguards the interests of employees, clients, and stakeholders, making it a vital aspect of responsible business management.

Without a well-structured plan, business owners risk leaving their companies vulnerable to chaos during transitions. For instance, a sudden death or incapacitation of a key owner can lead to disputes among heirs or mismanagement, potentially jeopardizing the business's future. Thus, having a solid buy-sell agreement is essential for maintaining stability and continuity.

Understanding Buy-Sell Agreements

A buy-sell agreement is a legally binding contract that outlines how a business will be transferred in the event of an owner's death, disability, or retirement. This agreement ensures that the remaining owners can buy out the departing owner's share, providing a clear roadmap for succession and preventing disputes.

Typically, these agreements can be structured in various ways, such as cross-purchase agreements or entity purchase agreements, depending on the ownership structure. By defining the terms of the buy-sell agreement, business owners can establish fair valuation methods and payment terms, which can significantly reduce stress during challenging transitions.

Executive Bonus Plans Explained

Executive bonus plans are a type of nonqualified deferred compensation plan that provides additional benefits to key employees or executives. These plans can serve as an effective tool for attracting and retaining top talent while also contributing to business continuity by incentivizing key personnel to stay with the company during ownership transitions.

In practice, an executive bonus plan allows business owners to offer bonuses that are taxable to the employee but tax-deductible for the business. This arrangement can be particularly beneficial for small businesses looking to enhance their compensation packages without the complexities of qualified retirement plans.

Nonqualified Deferred Compensation Plans

Nonqualified deferred compensation plans are flexible retirement savings plans that allow business owners to provide additional benefits to select employees beyond what is offered in traditional retirement plans. These plans can be tailored to meet the specific needs of a business and its key personnel, making them an attractive option for companies aiming to enhance employee retention.

Unlike qualified plans, nonqualified plans do not have to adhere to strict IRS regulations, allowing for greater customization in terms of contribution limits and eligibility criteria. This flexibility enables businesses to structure benefits that align with their strategic goals while also ensuring that key employees are financially secure during ownership transitions.