Key-Person Life Insurance provides an additional layer of financial protection in the event something should happen to the owner or key leadership of your company. Whether you’re a start-up or a long-standing business, you should be considering Key-Person Life Insurance in your portfolio. This added assurance can help during an unexpected transition and allow for less business disruption.
- Key-Person Life Insurance has a number of advantages that can help mitigate your company’s risks:
- Policies can be easily implemented and don’t require IRS approval. Your business only needs to prepare an annual report for the IRS.
- If all IRS guidelines are followed, policy benefits may be paid to the company tax-free.
- Customers, creditors, lenders and stockholders have the assurance that the business has a continuation plan and coverage in place.
- There’s flexibility with funds paid by the policy.
RiskSOURCE conducts thorough risk assessments in search of gaps that can leave your business vulnerable. It’s our way of understanding how we can better protect you and position your company for survival or continued success. Don’t make the common error of disregarding Key-Person Life Insurance and miss out on complete protection of everything you’ve worked so hard to build.
Founder / Chairman