Key Person

Could your company continue to operate without a key executive or founding member? What if your top sales executive became permanently disabled or incapable of working due to a serious health condition? Protect your business from these and other potentially serious risks with key person insurance from Magnes.

 

Retain Control Over the Destiny of Your Business
The key person insurance policies offered by Magnes are designed to help  companies retain their worth and ability to function even after key management figures are no longer active. The monies collected from a key person insurance plan can be used to buy back shares in a company from the estate of the deceased, to cover the costs associated with filling the prominent position, or to cover lost cash flow from clients who leave due to the loss of company leadership. A key person insurance policy from Magnes helps manage the risks associated with the loss of a valued employee, and enables your business to recover quickly and with minimal costs.

 

Key Person Insurance isn't Just for Big Businesses
If you're business in hoping to secure financing from a lender, it's very likely that you'll be required to take key person insurance out on people that the bank regards as key individuals. Magnes can help you navigate the various coverage plans out there, providing you with the expertise and guidance necessary to secure affordable and comprehensive coverage.

 

Whether your business is a start-up firm or an established company, Magnes provides the business liability insurance expertise needed to protect your essential business assets. Make sure your company is prepared for the unexpected – contact the Group Benefits Division of Magnes today.