Overview
Business life insurance protects a company from the financial impact of losing an owner, partner, or key employee. It funds succession plans, buy-sell agreements, and gives the business runway to replace lost talent.
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Business & Key-Person
Protect your business from the financial impact of losing a partner or essential employee.
How it works
The business owns the policy and pays the premium; the business is also the beneficiary. If the insured passes away, the company receives a tax-free payout it can use to buy out heirs, hire a replacement, repay loans, or stabilize cash flow.
Best for
Multi-owner businesses with a buy-sell agreement, companies with a 'rainmaker' employee whose loss would hurt revenue, and any business with bank loans personally guaranteed by an owner.
- Buy-sell funding
- Key person coverage
- Executive bonus plans
Things to consider
Proper policy ownership and beneficiary structure is critical — mistakes can trigger unexpected taxes. We coordinate with your accountant and attorney to make sure the policy aligns with your buy-sell agreement and corporate structure.