Key Person Coverage
Planning structured to provide a company with funding to offset the value that an employee provides. These funds are received at a highly emotional time to protect the company as a new employee is hired and trained for the vacant role.
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Solution Snapshot
Adapting a Portfolio
Move to life insurance products that are more suitable for the needs of the company and its owners for buy/sell and keyperson coverage.
Solution Snapshot
Multiple Needs
Need 1: Implement policies that benefit each child for estate planning purposes. Need 2: Replace existing policy that was expiring and needed for keyperson purposes. Need 3: Implement new policy for income protection.
Candidates
Solutions are not one size fits all. For every planning technique, there are determining factors that illustrate whether the technique will fit the planning for an individual or business. Outlined below are ideal candidates who might benefit from exploring Key Person Coverage solutions.
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Many companies recognize that their most valuable asset is their key employees, who significantly contribute to profitability. While business owners typically insure various aspects of their operations, it is crucial to also insure their key personnel. This not only offers financial clarity to business owners but also to fellow employees, customers, vendors, and creditors.