Key Man Insurance
An insurance policy taken out by a business to compensate that business for financial losses that would arise from the death of an executive whose absence would cause the business to significantly falter or close. The aim is to compensate the business for losses and help ensure business continuity.
A 57-year old male owned two whole life insurance policies and one term policy with a total combined coverage of $385,000. One policy had an outstanding loan balance of $36,000. Net cash value was $38,000 and the ongoing annual premium was $9,800 per year on all three policies. His needs had changed and he no longer required the coverage for the full term. View Savings
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The leading independent insurance brokerage that specializes in working with mature individuals and families in the upper income bracket - so their clients can maximize their premiums and protect the heirs to their estate.
