Business Life & Disability

Insuring Business Against Loss of Leadership

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The death or disability of a business owner or key employee can have a significant adverse effect on the financial well-being or survival of a firm. Although we cannot replace these individuals’ critical roles, there are insurance products that will provide funds to assist a business at a critical time such as this. Coverages include:

Corporate Life and Disability Buyout Insurance
This coverage allows the business to continue remuneration for key executives and to buy out shareholders in the event that death, illness or injury precludes those executives from performing their usual business duties.

Key Person Life and Disability Insurance
These policies cover an executive whose premature death or disability would have an adverse financial impact on the business.

Business Overhead Expense Insurance
This coverage provides a business with ongoing expense monies during a principal’s temporary disability. The goal is to facilitate continuity of the business by covering ongoing expenses, and the additional cost of replacing the key person for a period of up to 2 years.

Owens Group can assist with this discussion and provide solutions for your specific needs.