Business Owner Life Insurance

It's a life insurance policy the business owns on someone the business can't easily replace, often an owner, lead producer or licensed professional. If that person dies, the business gets the death benefit. It can be used to cover payroll and debt, keep clients and staff, or recruit a replacement.

It depends on what the coverage needs to do. A buy-sell is usually based on the value of your share, a loan on the balance owed, and personal coverage on the income and obligations your family would need covered. We help you add those up and avoid buying more than you need.

It's a form that gives your lender the right to be paid from the policy first, up to what you still owe, if you die. Whatever is left goes to your beneficiaries. When the loan is paid off, the assignment is released.

It depends on how many owners there are, how the business is set up and how the agreement is written, and each choice has tax and practical tradeoffs. We work with your CPA and attorney so the policy ownership matches the agreement.

Many applicants may qualify without a medical exam, depending on age, health history and the amount of coverage. When an exam is needed, we'll tell you what to expect and keep the process moving.

Call or email Lee directly. We'll coordinate with you on the client's agreement, valuation or loan terms, keep you updated, and make sure the coverage does what your documents say it should.