Key person Insurance
YOU HOLD THE KEYS
Key person plans don’t have to be complicated. The best plans are simple.
- Easy to understand
- Easy to implement
- Easy to explain to the employee
- Would your business be impacted if any particular employees left? Who are those key people?
- Would you be willing to create a plan to retain those employees and keep them from working for your competitors?
- What’s more important to you in planning: Tax advantages or control of your assets?
- Would you be willing to take on a small amount of plan administration to protect your business?
These solutions can help you develop new relationships or deepen existing ones. Key person plans are especially important if you’ve already helped an owner with business valuation or succession planning – this is the natural next step to protect their business.
THE POWER OF USNG LIFE INSURANCE FOR KEY-PERSON PROTECTION
Life insurance creates significant advantages for both the business and the employee.
POTENTIAL ADVANTAGES FOR BUSINESSES:
- Leverage of a predictable, repeatable rate of return.
- Tax-deferred growth of cash value.
- Tax-free death benefit.
POTENTIAL ADVANTAGES FOR EMPLOYEES:
- More valuable than cash bonuses.
- Protection for loved ones or supplemental retirement savings.
- Tax-deferred growth of cash value.
- Tax-free death benefit for beneficiaries.
More importantly, life insurance helps meet the three biggest requirements:
- Easy to understand.
- Easy to implement.
- Easy to explain.
TURN THE KEY
- Taxation and implementation. Power.
- Essentially, as administrative requirements increase, so does the incentive for the employee to stay with the business.
- They’re listed in order of complexity and retention
As a business owner you will need to decide which factors are most important to you and your company.
Key Person Life Insurance Intake Form
THE MORE INFORMATION WE HAVE FROM YOU THE MORE ACCURATE THE QUOTE WILL BE.
“THE BEST THINGS IN LIFE ARE THE ONES WE LOVE, PROTECT THEM WITH LIFE INSURANCE.”