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    Key-Person Benefits

    Extra financial security and protection for key executives and your company

    Typical Group Life and Disability insurance offered to employees usually only cover a fraction of a key executive’s high income.  Providing an enhanced, customized benefit package to wrap around the group plan for key executives protects business in the event of a sudden critical illness or death.  Key Person Benefits (Executive) benefits can include supplemental life insurance and/or carve out disability, and plans may be structured to avoid taxation of benefits at the time of claim.   Following are some more specific examples of Key-Person Executive Benefits.

    Learn more about Key Person Benefits

    Key Person (Key Man) Life Insurance will protect your business should one of the main partners pass away unexpectedly. This policy names your business as the beneficiary and premiums.  Accordingly, premiums billed under the business name. Benefits and premiums are tied the value you have established through financial records. Benefit payments are made to the business to help minimize financial loss should your business lose the insured (key personnel) due to death.

    A Business Overhead Disability policy prevents businesses from going under from regular overhead expenses while the business owner is unable to work and run the business due to disability. These types of policies will typically pay for things like employee salaries, rent and utilities, among other expenses.

    Buy-Sell Agreements (Continuation Agreements) protect a business after the death of a key employee. Buy-Sell Agreements tied to and funded by life insurance policies. They set the terms of the transfer of business interest by the key-person upon a triggering event.   Trigger events are usually death, disability and retirement. The surviving or continuing business owner or partner can rest assured knowing that they will be able to purchase the key-person share without interference from other survivors of the key person and his/her estate.