Business Continuation Insurance

Key person insurance

A small business, especially, can be devastated by the loss of a key employee who holds extraordinary skills, contacts, or knowledge.  While a delivery person may not be difficult to replace, it can take weeks or months to recruit and train the salesperson, the project manager, the instructor who produced significant revenue.  Key person insurance will give you time to find the right person to fill those shoes.

 

Buy-sell agreement insurance

A business buyout agreement is drafted to provide for and protect both the owners of a business.  But what happens if the partner dies or is disabled?  Rather than be stuck with a teenaged child or a vindictive former spouse as a partner, an insured buy-sell is akin to a prenuptial agreement or a will, providing a plan for a worst-case situation.