Insurance for Special Risks & High Income Needs
Key Person Life Insurance is designed to protect your business should one of the main partners pass away unexpectedly. Your business is named as the beneficiary and pays the premiums. Benefits and premiums are tied the value you have established through financial records. Benefit payments are made to the business to help minimize financial loss should your business lose the insured (key personnel) due to death.
A Business Overhead Disability policy prevents businesses from going under from regular overhead expenses while the business owner is unable to work and run the business due to disability. These types of policies will typically pay for things like employee salaries, rent and utilities, among other expenses.
Buy-Sell Agreements are intended to protect a business after the death of a key employee. Buy-Sell Agreements (also known as Continuation Agreements) are tied to and funded by life insurance policies. The agreement sets out the details of the transfer of business interest by the keyman (or his/her estate) upon a certain triggering event--usually death, disability and retirement. The surviving or continuing business owner or partner can rest assured knowing that they will be able to purchase the keyman’s share without interference from other survivors of the keyman and his/her estate.
If you have any questions, please contact us at 914.358.9750 | Email: firstname.lastname@example.org
Insuring your star performers insures the company's overall financial risk.
We also offer quality personal home, auto and term or cash-value life insurance for busy executive clients.