Business Life Insurance

Using Life Insurance as a financial tool is a sound strategy for businesses of any size. Policies can be used as a benefit or a perk for key executives and offer a way to help owners protect their company, family, and employees from their unexpected passing.

Below are other examples of how Life Insurance can be used in a business… 

Succession Planning

Life Insurance can be used to fund a buy-sell agreement on the passing of a partner.

Access to Cash Value

Business owners can borrow against the cash value of their policy.

Executive and Key Employee Bonuses, Recruiting and Retention

Life Insurance can be offered as bonuses for executive level positions so these key employees gain access to a larger death benefit than what is typically offered by standard benefit plans. This option is something that can set your business apart when it comes to recruiting and retaining executives. In Key Employee situations the policy can provide supplemental income for the employee and provide proceeds to the company if the employee passes before retirement, which can also be provided to the family of the deceased.