Guaranteed Long Term Care Benefit

Key person insurance is a life or disability insurance policy that a business takes out on its most valuable employees — typically owners, executives, or other individuals whose absence would significantly affect the company’s success. The business is both the policy owner and beneficiary, receiving a payout if the insured person passes away or becomes disabled.

This payout can help cover:

– Loss of revenue due to the absence of the key person
– Costs of recruiting and training a replacement
– Maintaining business operations during the transition
– Paying off debts or reassuring lenders and investors
– Providing a financial buffer to stabilize the company

It’s a vital risk management tool for businesses of all sizes.

A key person is anyone whose contributions are crucial to your company’s profitability or continuity, such as:

– Founders or co-founders
– Chief executives and senior leadership
– Top sales performers or client relationship managers
– Specialists with unique technical skills
– Individuals with critical financial backing or investor relationships

If losing someone would create operational, financial, or reputational challenges, they likely need to be protected with key person coverage.

Key person insurance offers several important advantages:

– Financial protection against unexpected loss of vital personnel
– Business continuity during difficult transitions
– Increased confidence for investors, lenders, and stakeholders
– Protection of company valuation and reputation
– Flexibility to use funds where they are needed most
– Can be part of succession planning or buy-sell agreements

It ensures your business can survive and recover from the loss of a critical team member without immediate financial strain.

We understand that every business is unique, which is why we provide:

– Comprehensive assessments to identify key person risks
– Tailored policy recommendations based on company size and industry
– Access to top-rated insurance carriers with competitive rates
– Guidance on choosing between life, disability, or combined coverage
– Support integrating key person insurance with broader business continuity plans
– Ongoing reviews to adjust coverage as your company grows

Our goal is to protect the people who protect your business.