Key-Person Protection
The death or serious illness of an owner or critical employee can affect revenue, client relationships, financing and day-to-day operations. Insurance may be one tool used to provide liquidity while the business adjusts.
Buy-Sell Funding
A shareholder or buy-sell agreement can establish what should happen after certain triggering events. Life insurance may be one potential funding tool for a death-related obligation. The legal agreement, business valuation and insurance structure should be coordinated.
Corporate-Owned Life Insurance
Corporate-owned life insurance may be considered for certain business protection, estate or succession objectives. Depending on the policy structure and circumstances, insurance proceeds may also affect the corporation’s Capital Dividend Account.
Corporate insurance strategies should be coordinated with qualified tax and legal professionals.
Business Continuity
Continuity planning can include ownership transition, succession, financial obligations and the impact on family members, shareholders, employees and clients. Insurance is one possible funding component, not the entire continuity plan.
Connect the insurance to the business problem.
Start with the obligation or risk first, then evaluate whether insurance is an appropriate funding tool.
Discuss Business Protection