Business life insurance
If your business depends on an owner or key employee, one unexpected loss could disrupt everything. Our business life insurance solutions are designed to protect what you’ve built—from funding for buy-sell agreements and income replacement to leadership transitions and protection for your family.
Don’t wait for a crisis to hit. We’re here to help you put coverage in place before you need it.
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The importance of business life insurance
Frequently asked questions
A buy-sell agreement helps determine what happens to an owner’s share of the business if they die or leave unexpectedly—and how that share will be funded. Without one, surviving owners or heirs could face financial strain and uncertainty.
If a key employee couldn’t return to work, would your business be financially prepared? Key person coverage can provide funds to help replace lost revenue, cover hiring costs, and stabilize operations during a critical transition. You can put protection in place now before the unexpected puts your business at risk.
If you passed away tomorrow, who would be responsible for your business debt? Without a plan, that burden could fall on your partners or family. Business debt protection coverage can provide funds to help pay off outstanding obligations and protect the company’s financial stability.
Term life insurance is a cost effective plan employers can provide their employees instead of permanent life insurance. Terms can be as long as 10, 15, 20, or 30 years. This option doesn’t build cash value and can be more cost effective for employers.
A Section 162 executive bonus plan is a form of compensation strategy that provides a taxable bonus to a key employee—typically to fund a life insurance policy the employee owns. This plan allows employers to deduct the bonus as a business expense, subject to applicable tax rules. It’s also a powerful way to strengthen retention and enhance your compensation strategy.
