PI Financial Services

Key Person Insurance

 

Key executives in your company have spent considerable time and effort in acquiring the knowledge, experience, reputation, and relationships that make them so valuable to your organization. The death of such a key member of the management team could result in a serious disruption to your operation and have a severe financial impact. In the absence of proper planning, the very survival of the business may be affected by the death of a key executive.

A solution is for the business to purchase an insurance policy on the life of these key executives. In the event of death, the life insurance proceeds provide the business with needed working capital to meet immediate cash needs and to provide a source of funds for finding, attracting, hiring, and training a replacement for the deceased executive. Key Person coverage helps to assure creditors, employees, and potentially large investors that the business will continue notwithstanding the death of the key person. The value of these benefits will usually far exceed the cost of the life insurance.

Call us today to discuss your Key Person Insurance needs!