CORPORATE LIFE INSURANCE
KEY-PERSON INSURANCE
Most companies have at least one person who is key to the success of the business. How would your business be affected if a key employee died? Key-Person Insurance is an affordable way to prevent your business from financial ruin after an important member of your business passes away. In fact, many lenders and investors insist on it to protect their investment. The business typically owns the policy, pays the premium and is the beneficiary. The proceeds can be used to pay off debt, keep creditors at bay, reassure existing clients and vendors or buy time until the perfect replacement is found. It is not always the owner who is insured. It may be a key sales person who has developed important relationships with clients, a manager or anyone who you rely on to make your business profitable.
Remember, you’ve worked hard to build a successful business. Key-Person Insurance is part of a business continuation plan to protect your company, your employees and your family.
BUY-SELL LIFE INSURANCE
Many businesses have agreements that obligate a person to buy out another person at time of death and/or disability. Having insurance in force provides the funding to pay for this obligation. The advantage to the deceased’s estate is that they have a guarantee that they will receive their money for their share of the business. The advantage to the surviving partner is that they now have full control of the company and can run it as they see fit.
We use an integrated financial management program to work with you in order to better understand your current financial position. After analyzing your financial data, we design the most effective plan that will direct you towards achieving your goals in assets accumulation, tax planning, education funding, charitable donations, debt management or retirement planning in the most tax-effective way possible.