Plus, because of the unsure nature of the business after an owner's disability, it may be difficult to qualify for a loan. The buyout is funded immediately, at minimal cost to the business. Disability insurance provides essential funds for the business at a time when the business itself must recover from the loss of a key contributor. A Disability Buy-Out policy can be tailored to fit your needs. There are many options available.
Every business has key employees critical to the success and profitability of the business.
Key employee insurance protects your business from the financial impact of losing a crucial employee. Key employee insurance helps you and your business by providing funds when a valuable employee dies. The business pays all the premiums and is the beneficiary of the life insurance policy on the key employee's life. If the employee dies, the proceeds are paid to the business to use as it wishes. The benefit, which is tied to the value you've placed on your employee's impact to the bottom line, can be used to hire and train a replacement or to pay other business expenses.