PROTECT against lost revenues and opportunities …

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You know how valuable your key employees are to you, and the role they play in both the day-to-day operation and the long-term viability of your enterprise.  The illness or death of one of your most important staff is not only a loss in terms of talent, but it could add up to lost revenues and opportunities down the road.

Consider using insurance solutions to protect your business against the loss of key employees or the business owner, and help safeguard the success of the business.

Some features to consider:
Key Employee Insurance – in the unfortunate event that a key employee dies, life insurance will provide immediate cash that can be used to help you find and train an appropriate replacement.

Disability Overhead Expense Insurance – provides money to cover expenses and keep the business doors open if a key employee suffers a serious, unexpected injury or illness and subsequently revenues fall.

Critical Illness Insurance – offers the business protection against lost revenue if the business owner or key employee is recovery from a serious illness like cancer or a heart attack.

Business Loan Protection – helps to guarantee business loans.  Life Insurance policies can be used to pay down outstanding business debts in the event of the loss of the business owner or a key employee.

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Barbara Fuller

About the Author:

Barbara Fuller (CFP, CPCA) takes pride in building, life-long relationships with her clients, to meet their small business and individual financial planning insurance needs and to help them achieve their goals. She has been involved in the area of Financial Planning and Protection for the past 20 plus years and started her own company working as an independent broker in Oakville. Her commitment is ongoing education to keep her updated on current trends in the ever-changing insurance and investment world. Barbara can be reached by email or 905-847-1592.
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Comments

  1. silver price  October 8, 2012

    When the key employee died the bank got quite uncomfortable because the owner of the business was on older man…and he did not know the details of the bank’s relationship with his company. The bank withdrew the floating debt and the company went bankrupt. Had the owner taken the time to know a little about the finances of his own company…and had he owned a substantial life insurance policy on his life he may not have had that problem. In addition had he owned a decent amount of key employee life insurance he would have been able to take his time in readjusting to being without his vice president in charge of finance. If he had sufficient key employee life insurance on the life of his valuable employee the company would have survived.

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