Key-Person – A life insurance policy can be used to protect a business from the loss of income and profits caused by the death of a key employee. For more information go to Key-Person Insurance in the advanced life section.
Business Continuation – Life insurance can be used to fund a buy/sell agreement or stock redemption plan to determine enable a partner or group of employees to buy the business interest of a deceased partner. For more information go to Business Continuation Planning in the advanced life section.
Business Loans – Life insurance protection on a key employee or business owner can be used to pay off the debts of a business in the event of that individual’s death.
Employee Benefits – Life insurance protection for employees is commonly included in company employee benefits plans.