Insurance > Key Person Life Insurance

Key Person Life Insurance

by: Ivon T. Hughes

Small businesses help keep our country going. But a small business needs help to keep going after the loss of someone vital to the company. There are options available you need to know about.

KEY PERSON IS ANYONE WHO IS IMPORTANT

In small to medium size businesses, the key person may be the business owner, a top sales rep or the person who does the financing. What would happen to that company if one of these key people were to suddenly die? There may be a rough period of transition until a replacement is found. If the owner was the one to die, that could mean the resulting death of the company. Losing the top sales person may mean losing some of those accounts that kept the business running.

YOU NEED LIFE INSURANCE ON THE KEY PERSON

The key person is someone who is vital to the company; someone who cannot be easily replaced and whose knowledge is key to the company. By not recognizing the affect the death of this person may have on the organization, a business may be setting itself up for failure. A few simple steps can be taken that will help ensure the business will be prepared for the unexpected.

KEY PERSON LIFE INSURANCE FOR THE COMPANY

Key person life insurance can do several things for a company. It can give them the means to establish a business continuation plan. It can provide the economic means to find a replacement and give them the training needed to fulfill the duties of the person that was lost.

In situations where the death of the owner otherwise means the death of the company, key person life insurance can be used to pay existing debt and allow for an orderly transition to take place.

IS KEY PERSON LIFE INSURANCE IMPORTANT FOR YOU?

The need for key person life insurance depends on your circumstances; maybe you haven't thought about the need or even considered it. If your business relies on you or key associates, you need to think about what exactly it is that you need to protect.

About The Author

Ivon T. Hughes of The Hughes Trustco Group is a licensed Insurance Broker. Author of The Life Insurance Handbook. Get a FREE Copy TODAY!

Email: info@trustco.ca

Web: http://www.hughestrustco.com

Advantages Of Whole Life Insurance Policies

Advantages Of Whole Life Insurance Policies

by: Donald Lusan

When you consider the advantages of whole life insurance policies I hope you will conclude that this is life insurance worth owning. I have no objection to term life insurance and even owned some when I was much younger. Each type of policy has it's place and it's own function. I cannot, for the life of me, understand why some people never have appreciated this. I refer to the term advocates who seem to hate the thought of buying a whole life policy.

The First Of The Advantages Of Whole Life Insurance Is The Death Benefit

The whole life insurance policy assures you a guaranteed death benefit that never decreases and upon death is usually free of federal income taxes. If you choose you may take the death benefit in the form of a monthly income instead of a lump sum.

The Premiums Remain Level; Another Of The Advantages Of Whole Life Insurance Policies

When you buy a...

Advantages Of Whole Life Insurance Policies

Insurance > Advantages Of Whole Life Insurance Policies

The Five Things You Must Know Before Buying Boat Insurance

The Five Things You Must Know Before Buying Boat Insurance

by: Ian Major

If you own a boat, you definitely need watercraft coverage.

Too often, people don't realize that they need coverage for their boats. Some don't even realize that boat coverage is available. Many know it is available, and they think about it ? they just decide that this type of coverage isn't something that they need. In most cases, they are wrong! You do need boat insurance, and you need to know what you are looking for when you start shopping for the coverage.

Here are five things you must know before buying boat insurance.

1. Many states now require you to carry watercraft liability coverage.

This coverage will should protect you against any damage that you do to other people or other people's property with your boat. The insurance should also cover you for losses due to theft, vandalism, storms, fire, capsizing, stranding, sinking, explosion, and...

The Five Things You Must Know Before Buying Boat Insurance

Insurance > The Five Things You Must Know Before Buying Boat Insurance

Loan Payment Protection Insurance ? Worth The Cost?

by: Joseph Kenny

Nowadays, every time you apply for a loan you will most likely be offered payment protection insurance. If you are taking out a particularly large loan, the idea may seem very attractive. These insurance policies will take over repayments on your loans in the event of losing your job or being involved in a medical emergency. But what are the true costs and benefits of this type of insurance? Given that over a billion pounds is spent in Britain on this kind of insurance annually, it is worth asking yourself.

The Cost Of Insurance

The fact of the matter is that the lending industry has become more and more competitive in recent years. With interest rates getting lower and lower, lenders have sought to find out ways of increasing their returns. One of the ways they have come up with is to offer various additional products that accompany the loan, such as payment protection...

Loan Payment Protection Insurance ? Worth The Cost?

Insurance > Loan Payment Protection Insurance ? Worth The Cost?

If You Have Been In An Accident, Do You Need A Lawyer?

by: Jody Ehrhardt

If you have been in an accident, whether at work, in an automobile or under some other circumstances, you may be wondering if you need to seek the advice and counsel of an attorney. On one hand there are the advertisements by lawyers on television that insist that you need their help to protect your rights. On the other hand, the insurance company that is handling your claim may insist that they are doing everything necessary for your interest and health. Who should you believe?

In most cases it is advisable to seek the counsel of an attorney. Even if you do not end up hiring him or her to represent you, it is a good idea to at least consult with them to make sure that you understand all of the legal repercussions of your injury. Many times, certain laws or rights maybe unknown to you, or worse, the insurance company may not willingly inform you of all of your rights.

If You Have Been In An Accident, Do You Need A Lawyer?

Insurance > If You Have Been In An Accident, Do You Need A Lawyer?

Do You Need Life Insurance

Do You Need Life Insurance

by: Joseph Kenny

It can be very difficult to decide if you need life insurance. Life insurance can be an extremely onerous financial commitment and investment, and it will also last for a considerable period of time, so you should take careful consideration in deciding if it is the best way of achieving the financial and other goals you and your loved ones may have.

Life Insurance Policy

Basically, a life insurance policy will cause a sum to be paid to the named beneficiary upon the death of the insured. This sum will generally be paid to the beneficiary, free of income tax. So in which instances is life insurance generally used above its alternatives? Well its primary function is to provide death benefit protection in a tax efficient way. For example, if you would like to transfer wealth from your estate to your beneficiaries you can do it through life insurance.

You should now that it may still be liable...

Do You Need Life Insurance

Insurance > Do You Need Life Insurance

10 Ways To Save On Homeonwers Insurance

10 Ways To Save On Homeonwers Insurance

by: Robert Rogers

1. Raise Your Deductible - Save Up To 25%

Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher your deductible, the more money you can save on your premiums. Nowadays, most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25 percent. Remember, if you live in a disaster-prone area, your insurance policy may have a separate deductible for certain kinds of damage. If you live near the coast in the East, you may have a separate windstorm deductible; if you live in a state vulnerable to hail storms, you may have a separate deductible for hail; and if you live in an earthquake-prone area, your earthquake policy has a deductible.

2. Don?t confuse what you paid for your house with rebuilding...

10 Ways To Save On Homeonwers Insurance

Insurance > 10 Ways To Save On Homeonwers Insurance

Auto Insurance Guide- Get your Auto Insurance Policy

Auto Insurance Guide- Get your Auto Insurance Policy

by: Gagandeep Dhaliwal

Auto insurance provides complete protection against losses happened as a result of vehicle accidents. Normally it includes car insurance and motor insurance. The customers purchase this insurance policy just to reduce the risk incurred due to accidents of cars, trucks and other vehicles. People can also secure their vehicles against theft, fire damage or accident damage.

Auto insurance policy may cover insured party, insured vehicle as well as third party that are involved in the accident. Sometimes policy is valid for certain circumstances. Different policies are available for the customers and they can purchase anyone as per their requirements. Coverage levels can vary for each auto insurance policy.

Insurance is one of the essential things to secure you, your family as well as your vehicle. You?ve to just pay a certain amount of premium for a fixed period...

Auto Insurance Guide- Get your Auto Insurance Policy

Insurance > Auto Insurance Guide- Get your Auto Insurance Policy

Fear Of Flying

Fear Of Flying

by: Joseph Kenny

There are a few fears in life that defy logic. Fear of spiders may be one, fear of lifts is another, and perhaps a fear of flying is another. Everyday, thousands of planes take off around the world, carrying millions of passengers safely to their destination. Flying is one of the safest, if not the safest, form of travel available. It is far safer than getting in the car, yet over one third of the population still report a fear of flying.

People cite many concerns when they talk of their fear of flying. Many report a lack of confidence in the air traffic control system and fear that a simple mistake on the ground can lead to disaster in the air. Then there are fears of faults with the plane itself. Most people saw the pictures of the concord crash a few years ago and when you?re sitting on an airplane, a few feet from the massive jet engines humming steadily, it seems very hard to believe that nothing could go...

Fear Of Flying

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