Business Protection

Have you considered the financial impact that the death or disability of an owner or key employee could have on your business….on its value and its ability to survive?

A successful business represents a valuable asset…perhaps your most valuable asset. BUT have you considered the financial impact that the death or disability of an owner or key employee could have on your business…on its value and its ability to survive?

  • Do you have key employees who make a substantial contribution to the success of your business?
  • Do you know what the financial impact on your business would be if a key employee, including an owner, died?
  • How will business loans be repaid if an owner dies unexpectedly? Or if you are sick or hurt and unable to work, how will business overhead expenses to paid during your recovery?

The success of most businesses can be attributed to management talent. The death of a key employee, including an owner, can have a serious impact on future profitability. The personal assets of a small business owner may have to be used to repay outstanding business loans at the owner’s unexpected death.

Without a source of funds to pay business overhead expenses, a disabled business owner may have no choice but to sell or liquidate the business, even though a shorter-term recovery is likely.

Our objective with business protection planning is to assist you in evaluating the impact that the death or disability of an owner or key employee could have on your business, and to help you provide the funds that will be needed to protect your business from the adverse financial consequences that can arise when an owner or key employee dies or becomes disabled.

Without proper advance planning these events can seriously impact your business profitability. You may need to replace lost profits, possibly hire and train a replacement, provide a financial reserve for the business during the adjustment period and in some cases provide benefits to the deceased employee’s family. You may also want the ability to fund the purchase of a deceased owner’s interest in the business.

There are Key Man Policies, Partnership Insurance, Buy-Sell Funding, Business Debt Reduction and Disability Insurance that can help cover the overhead. I would be pleased to speak with you or meet with you to discuss your specific needs. I can also provide you a quote if you know what specific area you are interested in.