Protect your business legacy
Smart insurance solutions for business owners, partners, and key personnel
What business owner coverage means
Business owner coverage protects your company from the financial devastation of losing a key person or partner. It funds buy-sell agreements, replaces lost income, and keeps your operation stable during transition.
Three pillars of business security
Business continuity when it matters most
Business continuity protection
Life insurance ensures your business survives the loss of a critical team member or partner.
Buy-sell agreement funding
Insurance proceeds fund the purchase of a deceased partner's share, preventing disputes and keeping ownership clear.
Key person risk management
Protects your business from losing the person whose expertise or relationships are irreplaceable to operations.
Coverage built for your business structure
Every business is different. We design coverage that fits your specific structure, partnership agreements, and financial goals.
Questions
Everything you need to know about protecting your business and your partners.
Key person insurance is a life insurance policy owned by your business on the life of a critical employee or partner. If that person dies, the business receives the death benefit to cover lost income, find and train a replacement, or pay off debts. It protects the company's financial stability during a difficult transition.
A buy-sell agreement is a contract between business partners that outlines what happens if one partner dies or becomes disabled. Life insurance funds the agreement, allowing the surviving partners or the business to buy out the deceased partner's share from their family at a predetermined price. This keeps the business in the right hands and prevents forced sales or family disputes.
In most cases, premiums for business-owned life insurance are not tax-deductible. However, the death benefit is typically received tax-free by the business. We recommend discussing the specific tax implications of your policy with your accountant or tax advisor to understand your situation fully.
The right amount depends on your business structure, partnership agreements, outstanding debts, and the financial impact of losing a key person. We analyze your specific situation during a consultation and use industry formulas to calculate appropriate coverage. Our business insurance calculator can give you a starting point.
Business insurance is owned and paid for by the company and protects the business itself from financial loss. Personal life insurance protects your family's income. Many business owners need both. Business insurance ensures continuity and protects your partners and employees, while personal coverage protects your family's lifestyle.
Ready to protect your business
Schedule a consultation with one of our advisors to review your coverage needs and build a protection strategy.
Contact us
Have questions about business owner coverage or need help with your buy-sell agreement? Reach out and we'll guide you through the process.