Business Continuation
Will your heirs need to sell the business to obtain cash to pay estate taxes and liabilities? Will your heirs and surviving owners work together?

Key Employees
Employees are an integral part of a business' success. As a result, you should ask yourself: Could your business continue to be as profitable in the event of the unexpected death of a key employee?

What is Key Person Life Insurance?
The primary purpose of life insurance is to offset economic loss due to an individual's death. It's easy to understand how life insurance indemnifies a family for the loss of income of a working parent. Key person life insurance is similar except it is a business that is indemnified against loss. Key person life insurance is purchased by a business on the life of an owner or employee whose services contribute substantially to the success of the business. The company is both owner and beneficiary of the insurance.                                   

Key person life insurance:

• Surviving owners can be assured the business will continue to operate.
• Employees can be assured the business can continue operate.
• Creditors are assured loan payments will continue to be made in a timely manner. 
• Assures lenders and suppliers that established lines of credit can be upheld.
• Cash value can help preserve credit ratings and be used as collateral.
• Funds are available to locate, recruit, hire and train a replacement, 
• Funds are available to help offset lost sales and profits and cash values can help fund retirement benefits for the key employee.

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