Most Valuable Asset
As a business owner, you know that you are your company’s most valuable asset. As the key employee, your active management of the daily operations is critical to your company’s continued success.
As a key employee, your active management of the daily operations is critical to your business’ continued success. If the unexpected happens, how long could your business continue to thrive without you? What if the majority of your personal net worth was tied directly to your business? Many solid, prospering businesses have suffered when an owner dies or was critically injured in a car accident. Almost immediately, the bank that holds your revolving credit line may demand repayment. At this point, the only option for the company could be to liquidate the business.
Don’t Let This Happen
Don’t let this happen to you. Purchasing key person insurance to indemnify your company from potential losses associated with this risk is the best way to plan for your continued success.
Key person insurance is having a life and a disability insurance policy purchased on behalf of each owner to indemnify your company from potential losses associated from the premature death or extended long-term disability of an indispensable person in the business. Having this protection would replace the income/ revenue that would have been brought to the company had this unexpected life event not occurred.
In today’s market, knowing how to use these powerful financial tools to protect the continued success of your business is simply smart business!