Sentences with phrase «secure key person life insurance»
The costs to secure key person life insurance are negligible when compared to the economic loss caused by the demise of the company.
https://www.keypersoninsurance.com/ Not exact matches
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.
To secure key man insurance, the business must apply for a life insurance policy on the life of the key person.
Generally, when using a key man life insurance policy to secure a loan, a collateral assignment is utilized to ensure the bank or lending institution receives funds to cover the loan balance due in the event the key person or business owner dies.
With both key man life and disability insurance, the business secures the policy on the life of the key person.