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The Business Insurance You Need But Probably Don’t Have

It seems like common sense. Regardless of what new technologies develop, or what new efficiencies are attained, we know that it is the people that truly make a business profitable. But do we act on that common sense? We ensure our business assets to protect against loss….but what about the Key employees, Top Executives and Business Owners?

The family use of Life Insurance has largely overshadowed its use in the business environment. However, Business Life Insurance also plays a vital role in helping businesses achieve their objectives. The success of a business is largely dependent on strategy, planning and hard work. But there are a few areas that can sometimes get overlooked

There is a compelling need for Business Life Insurance. A building may never burn, but every human being will eventually die. Most business owners have put their “all” into their businesses, and failure would be disastrous to their personal estates as well as to their businesses.

Most small business owners don’t understand how Business life insurance can help to protect their business and ensure the financial health of their organization:

  • Compensate a business following the loss of a key executive or employee due to death or disability. Countless businesses have been reduced to a fraction of their value following the death or disability of one of the owners or key individuals. A KEY PERSON LIFE INSURANCE policy will provide cash to offset the potential loss of profits, provide funds to recruit and train a replacement, protect the company’s credit position and provide a financial hedge against a loss in business value.
  • Provide funds for a smooth transition of business ownership. A properly constructed BUY-SELL Agreement funded with LIFE INSURANCE can ensure business continuation, avoid unwelcome transfer of ownership, protect against unwanted heirs or outsiders, provide financial security and assure a fixed price.
  • Help a business owner attract, retain and reward key employees by funding various

Non-qualified or defined benefit plans such as Supplemental Executive Retirement Plans

(SERP’s), Executive 162 Bonus Plans or Split Dollar Arrangements

  • Provide access to tax-advantaged cash savings that can be used to provide supplemental retirement income to the business owner and furnish additional funds to help support or grow the business, or secure a bank loan.

As a small business owner, you have the need to plan for both your personal and business assets. Business Life Insurance is essential for the financial health or your organization. Contact Kevin Krupka at Mountain Insurance (720) 974-1702 / kevin@dcimountain.com to find out how Business Life Insurance can help your business.

Mountain Insurance

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