Plan ahead for the survival of your business with key person life insurance from Eric Luebbe Insurance in Fremont.
Insurance coverage in Fremont that businesses should not overlook for business continuity.
You might describe the skills and knowledge of the senior staff as priceless, but if anything happened to them, the financial losses for your business could be very real. That’s why you need to safeguard the future of your business in Fremont, NE with key person life insurance.
Ensure the continuation of your business.
Where ordinary life insurance compensates a person’s financial dependents for loss of income, key person life insurance is all about the costs a business faces when the person passes away. It’s best suited for staff who are so vital to the company’s operations that it could struggle to survive without them.
What does key person life insurance have to offer Fremont area businesses?
The payout from this type of policy will ideally help the company stay afloat while the other members of your staff come to grips with running the business, or until your business hires a suitable replacement and brings them up to speed.
How are the costs of key person life insurance determined?
The cost of your key person life insurance policy from our Fremont insurance company may vary depending on a number of factors, including the role of the person, the type and size of the business, their age, overall health, among others.
Additional payout options for every situation.
In the worst-case scenario, the payout could instead be used to wind down operations in a controlled manner rather than face the chaos and damage of a forced liquidation. In addition to paying out when a key staff member has passed away, some key person policies will also payout if the person is diagnosed with a terminal illness or suffers a critical illness that means they can no longer work.
A key person life insurance policy is an option for Fremont businesses to help safeguard the longevity of their business. Contact us to learn more.
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