Your business is rolling along and things are looking sweet! Your main man, the star chef, top salesperson, best worker, trusted partner or right hand executive assistant gets hit by a truck!! Now what!! No one can replace them! What happens to the business while you try to find someone or do it yourself? And how can you do their job and your job and ... What a mess!! You’re mourning the loss of a trusted friend and your business is in a tail spin! Would a big cash life insurance payment solve the problem? Not really! But it would buy you some time to figure out how to go on, or even if you want to go on with the business.
I never met my grandfather. He died before I was born. The family restaurant closed forever when he died. I’ll never know if things would have been different if he had left life insurance. But I think of my grandmother every time I talk to a business owner about key man insurance. Gramps was the key man, and the business ended when he did.
Key Man Life Insurance provides a lump some of cash if you, a business partner, or a key employee, passes on. The beneficiary can be you, the business or a family member, whichever works for your situation. You can decide whether to use the money for personal or business expenses. It doesn’t bring back the person you’ve lost, but it gives you the ability to make good choices.
Contact me Nancy Vargo, your Independent Insurance Agent today!