.jpg)
Protect Your Business From Loss
Key individuals are what drive your business, and no company wants to imagine the major detriment in the unfortunate event of a loss of a key employee. Protect your company's status and key employees with keyman Insurance.
What Is Keyman Insurance?
Keyman insurance is an insurance policy option designed to protect the life of a business from losses in the event of a death of a key employee. The main priority keyman insurance is used is to receive a payout in the event of a loss, where the company can help cover the gap to recover and hire proper replacement without impacting the productivity and profitability of the business.
What Is A Key Employee?
Technically, many of those within a company could be considered key people, however in the broadest terms a key person is someone who contributes so much to the company that in the case of their loss, the company would be significantly affected, struggling to stay afloat or in severe cases can risk declaring bankruptcy.
These key individuals provide an advanced and unique skill set, where their work in the company is critical to maintain business.
What Is Keyman Insurance?
Keyman insurance is an insurance policy option designed to protect the life of a business from losses in the event of a death of a key employee. The main priority keyman insurance is used is to receive a payout in the event of a loss, where the company can help cover the gap to recover and hire proper replacement without impacting the productivity and profitability of the business.
Some examples include.... - Executives, founders, or presidents - Small business owners - Employee who is directly tied to company brand or reputation - Individuals who are primary contributors to the company's product design, marketing, creation, etc - High production employees - Employees tied to business financial oversight such as business loans or ensure high company credit
What Are My Options?
No two companys are alike, the insurance coverage a small business needs doesn't compare to what a larger company may need. So with key persons, the number of critical employees and the reliability of such employess will vary based on different extents and values each company holds. That's why our agents take the time to sit down with you to thoroughly discuss the right direction for your business.
At ALVA Financial Group our two primary categories for keyman life insurance include:
Term and Permanent policies.
What Are My Options?
No two companys are alike, the insurance coverage a small business needs doesn't compare to what a larger company may need. So with key persons, the number of critical employees and the reliability of such employess will vary based on different extents and values each company holds. That's why our agents take the time to sit down with you to thoroughly discuss the right direction for your business.
At ALVA Financial Group our two primary categories for keyman life insurance include: Term and Permanent policies.
Each of these policies offer different benefits, and your policy length is based on your companys needs and goals. With over 30 years of experience speak with our team today to discuss a plan that best fits the direction of your business.
Here to secure your business for generations.
Sometimes a key employee needs to covered for their whole life with the company. Our permanent keyman policies will not only cover your key person but their policy will have the component to build cash value to keep your company's business steady, and offer a favorable return should you choose to ever end coverage.
Offering a more secure coverage for key persons that are fairly young and has an intention of many years within the company.
Permanent option
Term option
These term policy options insure your key person is covered for a set period, term lengths ranging from 1, 5, 10, 20 to even 30 years.
These policies are affordable and are ideal for small businesses or companies with key employees close to retirement
These term policy options ensure your key person is covered for a set period, term lengths ranging from 1, 5, 10, 20 to even 30 years. These policies are affordable and are ideal for small businesses or companies with key employees close to retirement
Sometimes a key employee needs to covered for their whole life with the company. Our permanent keyman policies will not only cover your key person but their policy will have the component to build cash value to keep your company's business steady, and offer a favorable return should you choose to ever end coverage. Offering a more secure coverage for key persons that are fairly young and has an intention of many years within the company.