Key Person Life Insurance

Key Person Life Insurance

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Key Person Life Insurance

Do you employ at least one individual who is essential to your company’s success? Perhaps it’s you, a partner or someone with unique expertise that is unmatched throughout the rest of the company. If this person’s exit from the company is planned, such as retirement or voluntary termination, then the loss can be prepared for and the company can take the necessary precautions to minimize the effect. However, if the departure is unplanned due to an unexpected death, disabling accident or a sudden quitting, then your company will be exposed to financial risks.

 

Key Person Life Insurance

Every company employs individuals who are vital to its success and should give consideration to key person life insurance, especially if the business is small. This insurance solution can protect an organization’s solvency in the event it loses one of its key members or investors without warning.

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This article was written by Zywave LP, an entity unrelated to HollandStivers & Associates LLC. The information contained in this article is not intended to be tax, investment, or legal advice, and it may not be relied on for the purpose of avoiding any tax penalties. HollandStivers & Associates LLC does not provide tax or legal advice. You are encouraged to consult with your tax advisor or attorney regarding specific tax issues. ©2012 Zywave LP. All rights reserved.