Sentences with phrase «key employees die»

Key employee insurance is designed to help protect a business from the financial losses that may occur when a key employee dies.

What would happen to your business if you, one of your fellow owners or a key employee died tomorrow?

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.

It is also a logical way to insure that a business can retain options and flexibility if a key employee dies or is disabled.

The cost associated with securing a policy for key man insurance is very small relative to the costs and damage without it & the potential benefits a company receives if a key employee dies or is disabled.

It will own the policy, pay the premiums and be the beneficiary in the event the key employee dies or is disabled.

In the event that the key employee dies, the proceeds of the policy are paid to the business, usually tax free.

In the event the key employee dies, the business receives the lump sum policy proceeds that can be used at the company's discretion to stabilize the company until a replacement employee can be found.

In the event an owner, partner or key employee dies, life insurance could also ensure business can continue.

Business people may buy term life policies to protect the business should a key employee die without warning.

When the key employee died the bank got quite uncomfortable because the owner of the business was on older man... and he did not know the details of the bank's relationship with his company.

In this, the death benefit is paid to the company if a key employee dies.

If the key employee dies, the money is there to help the company through a transition phase.

Not exact matches

Other policies to consider include: • Key employee insurance life or disability income insurance compensates a business when certain key employees become disabled or dKey employee insurance life or disability income insurance compensates a business when certain key employees become disabled or dkey employees become disabled or die.

You might also want life insurance to cover college expenses for your kids if you die, or pay off your mortgage at that point, or to pay for funeral expenses, or to protect the income your business gets from a key employee.

The key employee usually has special skills that, if unavailable, would harm the business if the employee died, resigned, or became disabled.

(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.)

And there is also the company wanting to protect itself with key person insurance if the company's star employee dies.

In the worst - case scenario, of your company so dependent on an employee that it could potentially go out of business if they were to die, key man life insurance can also provide an alternative to declaring bankruptcy.

This covers what happens to your business when you die, what happens if a key employee or a business partner dies, and how to cover term life insurance benefits to employees.

Key person life insurance provides a death benefit that can aid in covering financial losses if your key person employee were to dKey person life insurance provides a death benefit that can aid in covering financial losses if your key person employee were to dkey person employee were to die.

If the key person dies, the death benefit is payable to the business and not the key employee's family.

If you, a fellow owner, or key employee were to die unexpectedly, how would this affect the business?

(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.)

They aid in continuing a corporation in the event a key shareholder or key employee should die.

It is common for companies to own life insurance policies on their employees, especially key employees to the company to protect against the cost of replacing them if they were to die unexpectedly.

They fund buy sell agreements and they provide cash to a business if a key employee should die.

If not, then a second to die policy may be used to fund a buyout of the business by a key employee or third party.

It is used by business people to cover outstanding loans, to fund buy - sell agreements in the event that a partner or shareholder dies in the initial years of a new business, or for key employee life insurance.

A key employee life insurance policy is put in place to protect a business from losses if an invaluable employee dies.