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303.443.1770

2770 Dagny Way, Ste 204
Lafayette, CO 80026
info@ritehealthsolutions.com

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Key Man Policies

September is Life Insurance Awareness Month!

September is Life Insurance Awareness Month, the perfect time to take stock of your life insurance
needs. Start online by using the Life Insurance Needs Calculator on the nonprofit LIFE Foundation’s
website, www.lifehappens.org/lifecalculator.

Then contact us to schedule a meeting so we can help you determine the right amount and type of insurance to protect the ones you love.

Individual Life & Disability

Life insurance is an important feature of many business arrangements. Some of its more important uses are as follows:

  • Funding buy-sell agreements
  • Insuring a key employee
  • Guaranteeing a business loan

Funding a buy-sell agreement with life insurance

Owners of a closely held corporation generally want to retain control over the stock or partnership interests to prevent ownership interests from falling into the wrong hands. A buy-sell agreement allows the owners of a C or S corporation or a partnership to restrict the transfer of ownership interests.

 One problem with buy-sell agreements is how to obtain funds to purchase the stock or partnership interest of a deceased shareholder. Life insurance is a preferred method of funding a buy-sell agreement.

Life or disability insurance coverage on a key employee

Key employee life or disability insurance provides funds to help a business cover expenses and financial losses caused by the sudden or unexpected death or disability of a key employee.

Business credit life insurance

If a business is borrowing money and does not have significant assets or the lender perceives that the business relies heavily on the talents of one or a few individuals, the lender will often require a borrower to guarantee a loan. Business credit life insurance guarantees repayment through a life insurance policy on the life of the owner or key employees.

Do you have more questions? Do you want more information? Contact us today to get a quote!

Facts of Life-Flyer

Life Happens-Spaghetti

Life Happens-Bathroom

Life Story-Connie

Life Story-Melissa


 

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