Key-Person Life Insurance | Executive Bonus Life Insurance

Key-person life insurance can provide your business with tax advantages like tax-free retirement, living benefits, and creating breathing room an executive were to become critically ill suddenly or even pass away.

Having Living Benefits in your life insurance policy is a crucial financial planning tool. If the executive were put out of work due to injury or chronic/critical illness, there would be a significant payout to keep the business running.

By investing in key-person life insurance , business owners and executives can protect their company from the financial strain of unexpected death or chronic/critical illness. Businesses have used Key-Person Life Insurance to pass large amounts of money back into their business . 

In most cases, the death benefit or accelerated benefits are paid out on a tax-free basis to the business. Term Life Insurance has larger face amounts. Whole life builds cash value which you can withdraw at a later date to help with expenses. Universal Life provides greater flexibility and cash value as well.