Sentences with phrase «as key person insurance»

This could be a good option for business owners to use IUL as key person insurance, for premium financing plans, or for estate planning.

Often the employer is the beneficiary of the policy and the policy typically is referred to as key person insurance.

(Some people buy term life insurance as key person insurance, insuring a key person in their organization.)

We also offer a variety of unique commercial insurance solutions, including critical illness / disability coverage, as well as a key person insurance, loan protection insurance and buy / sell funding — all of which can protect you in the event that a key management team member is unable to maintain their position due to injury, illness or death.

Key man insurance, commonly referred to as key person insurance, is essentially life and / or disability insurance purchased by a business on the life of a key employee or business owner to offset financial losses that would arise from his or her death or extended illness.

Key man insurance commonly referred to as key person insurance or key employee insurance is designed to protect company in the case of an untimely death or disability of a top salesperson, executive or business owner.

Key man insurance, commonly referred to as key person insurance, is the most effective and efficient tool a business can use to guard against the death or disability of a highly valued employee or business owner.

The HECV policy is designed for executives, such as key person insurance, with significantly higher early cash value than traditional whole life policies.

Often the employer is the beneficiary of the policy and the policy typically is referred to as key person insurance.

People who need permanent life insurance protection but wish to take advantage of possible cash accumulation via an equity index might use IULs as key person insurance for business owners, premium financing plans or estate - planning vehicles.

Not exact matches

(Small businesses may wish to consider purchasing life insurance policies for key individuals, such as an owner or top employee, to help prevent financial distress if that person were to die.)

The business value protection rider allows owners to increase the death benefit as the value of the business increases, which may be suitable for buy - sell agreements and key person insurance.

In situations involving multiple business partners, the strategy used is often referred to as business succession planning or family business succession planning, for closely held family businesses, rather then key person insurance.

Key person insurance, also known as, key man insurance (a.k.a. key man policy) is a critically important form of business continuity planniKey person insurance, also known as, key man insurance (a.k.a. key man policy) is a critically important form of business continuity plannikey man insurance (a.k.a. key man policy) is a critically important form of business continuity plannikey man policy) is a critically important form of business continuity planning.

Key person insurance does not have a legal definition and does not refer to a type of insurance but rather to the use and application of life insurance or long - term disability insurance, as it applies to the loss of a key business persKey person insurance does not have a legal definition and does not refer to a type of insurance but rather to the use and application of life insurance or long - term disability insurance, as it applies to the loss of a key business perskey business person.

As discussed above, key person insurance insures the company against the loss of key people.

Business owners who are looking at the long game may also benefit from both when considering needs such as key person (key man) life insurance.

Applicants can now access a wide variety of policy options to meet their personal needs, including products such as mortgage life insurance, decreasing term life insurance, key person insurance, credit life insurance, and many others.

AND using cash value whole life insurance from a mutual company for this strategy as opposed to other types of life insurance such as universal life or term life insurance offer some additional incentives for your key people.

It even has a few benefits as key person life insurance if a simple death benefit is the goal.

This specific type of whole life insurance offers substantial benefits to key people due to the steady accumulation of cash value within the policy and the flexible access to cash, as well as favorable tax treatment.

Structuring the life insurance on a key person in such a way as to incentivize the key person to remain at the business until fully vested in the life insurance policy is a fantastic way to promote strong employee loyalty.

One reason to buy term life insurance is to use it as key person life insurance.

This is an excellent rider to consider and is very beneficial in cases of business owners, such as key person life insurance or in a buy - sell agreement.

The IUL also has a cash value, and is a form of permanent insurance, which is ideal for business succession planning such as funding a buy sell agreement with life insurance or key person insurance.

And on certain life insurance policies, such as those used to fund buy sell agreements, irrevocable life insurance trusts or key person business insurance, a better rate class may mean thousands of dollars in savings.

Please note if you are purchasing life insurance on a key employee or individual, this is commonly referred to as «key man life insurance» or «key person life insurance».

Key Person Insurance Also known as Key Man insurance, Key Woman Insurance, or Business Life IInsurance Also known as Key Man insurance, Key Woman Insurance, or Business Life Iinsurance, Key Woman Insurance, or Business Life IInsurance, or Business Life InsuranceInsurance.

Although owners or partners are typically identified as critical employees, key - person insurance can cover any worker who's vital to a day spa's success.

Typically designed so that the surviving business partner would have the money to purchase the company interests, life insurance for businesses can also be structured as «key person insurance,» where if a key employee dies the business owner will receive a benefit to help offset the financial impact of losing the key employee.

There are two important products for you as a small business owner to consider Buy - Sell Protection and Key Person Life Insurance.

In short, an insurance agent, also known as a «producer» is the key person between the applicant and insurer.

KEY PERSON INSURANCE The sudden, unexpected death of a key person could result in a substantial loss to your business - the loss of expertise, as well as the high cost of securing and developing a competent successKEY PERSON INSURANCE The sudden, unexpected death of a key person could result in a substantial loss to your business - the loss of expertise, as well as the high cost of securing and developing a competent succPERSON INSURANCE The sudden, unexpected death of a key person could result in a substantial loss to your business - the loss of expertise, as well as the high cost of securing and developing a competent successkey person could result in a substantial loss to your business - the loss of expertise, as well as the high cost of securing and developing a competent succperson could result in a substantial loss to your business - the loss of expertise, as well as the high cost of securing and developing a competent successor.

Key person insurance does not replace a personal life insurance policy, as none of the money from key person insurance would go towards family membeKey person insurance does not replace a personal life insurance policy, as none of the money from key person insurance would go towards family membekey person insurance would go towards family members.

Key Person Insurance can provide finances to meet your obligations, including salaries and expenses, as well as the cost of finding a replacement.

Coverage is available for all family members and can also be used for strategic business planning such as key person life insurance coverage.

As you can guess from the name, these plans will allow you to purchase life insurance coverage (either for yourself or for a key person in your business), without having to take a medical exam.

For example, an office assistant would not be considered a key person for the purposes of insurance as that position could readily be filled rather quickly and without considerable injury to the business.

To secure these much needed funds, lenders, as well as investors, will normally require the business to purchase key man life insurance on their key people.

If life events cause key persons to leave the company, life insurance can help protect the business» future here as well.

Key man insurance, otherwise known as key person or key employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business ownKey man insurance, otherwise known as key person or key employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business ownkey person or key employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business ownkey employee insurance, is coverage which can help protect your company in the case of an untimely death or disability of a top salesperson, executive or business owner.

This use is commonly known as «key man» or «key person» insurance.

If your business has diversified into many fields, like media or entertainment companies, you may also need key man insurance, as a key person is integral to the continued success of your business.

A key person insurance policy can also be used as a guarantee for business loans.

Permanent life insurance is generally recommended for long term planning such as funding a buy sell agreement, estate planning, or key person business insurance.

Structuring the life insurance on a key person in such a way as to incentivize the key person to remain at the business until fully vested in the life insurance policy is a fantastic way to promote strong employee loyalty.

However, offline term plans have been around for as long as Insurance and have been one of the key necessities for people looking for pure protection.

Business owners who are looking at the long game may also benefit from both when considering needs such as key person (key man) life insurance.

(Small businesses may wish to consider purchasing life insurance policies for key individuals, such as an owner or top employee, to help prevent financial distress if that person were to die.)

Often key sales people or those with specialized skills such as engineers are likely to involve substantial replacement costs and thus warrant key person insurance protection.