Many successful businesses are closely held between two or more owners. What happens to these businesses if one of the owners prematurely dies? Will the business continue? Usually the remaining owner(s) often mange the business successfully. However, without having the financial ability to acquire the deceased owner’s share of the business from the estate or heirs, may prove to be a problem without a plan in place.
Unfortunately many business have evaporated upon the owners death simply because there was not a (more…)
Would your business survive the loss of a Key Person?
Every business has assets that need to be protected, whether those assets are buildings, equipment, automobiles etc. However, often over looked is what may be a companies most valuable assets – Key People (aka: key employee). While, all employees serve an important role in the businesses where they work, certain Key People are essential to the overall success of a businesses.
In a nutshell – Key Person Insurance protects your business against the loss of a a key person. If there would be a financial loss to a business from an (more…)