You and your key executives have spent considerable time and effort in acquiring the knowledge, experience, judgment, reputations, relationships, and skills that made your business successful. The death or disability of you or a key member of your team will results in not only the loss of a key member of the management team, it can also have a severe financial impact. For example, during the resulting disruption, lenders may curtail credit, creditors may press for immediate payment, debtors may delay making payments, employees and customers may lose confidence, while providing competitors with an opportunity to take advantage of the situation. Simply, it is about a loss of power and control. Money, received when you need it most is empowering.

In business, we can speculate upon the cost of this loss to the business and its impact, now and in the future. A conversation with an experienced advisor regarding the value of your business and the key people and their roles and responsibilities is a first step in the process of empowering you. Insurance companies will have underwriting limits that can impact the extent of liability that you can offset.

There are compelling questions which must be asked:

• • How will the death or disability of this person affect cash flow?

  • How will business credit be affected?

  • Are there going to be training and recruitment cost?

  • Will their death or disability impact your ability to fulfill contract demands and covenants?

  • If so, what liability will you incur for failing to fulfill these contractual demands?

You may experience a profound change in your relationship with creditors, suppliers, customers and even your employees. All will need reassurance that you and your business can weather this loss and continue to fulfill your obligations. The value of your ownership position and the importance this has to you and your family’s well-being may hinge upon the answer to these questions. And if that Key Person is also an Owner or a Significant Shareholder, the death of this person can be calamitous.

Time will tell…Money will help Key Person Insurance combined with a Disability Lump Sum Payment strategy, will put you in control of this crisis and give you the power to withstand this profound loss. Where this insurance also offsets or underwrites loan obligations, portions of the premium for this insurance coverage may be a tax-deductible business expense. The benefits of immediate cash on hand to provide liquidity, operating cash or even a signing bonus to acquire an experienced and skilled replacement executive, can have a profound impact upon your business well-being.

Having an informed conversation with a qualified professional able to work with key members of your team and allied professionals, can create an effective solution that can save your business.

Perhaps now is the time to speak with a qualified professional.

May we invite you to give us your contact information, so that we may continue the conversation?