What happens to a company the day a “key person” walks out and never returns? Will the bank extend the same line of credit to someone new in a key position?
Almost every business insures its equipment, building and most of its other assets. Yet it fails to insure its “money-making machine”, the key person.
Isn’t skilled management your company’s most valuable asset? The management ability of a key person can mean the difference between profit or loss.
When a key person dies or become disabled, your bank will want to make sure your company will continue to meet its financial obligations. Key person insurance can create the cash to help maintain a level cash flow when a key employee dies or becomes disabled.
Insuring your key personnel means helping insure profits. I will put together an insurance program that can pay your company the loss value of your key person.