Insure your business against the loss of an important employee
In some cases, a business depends on the presence of a certain person in order to do business as usual. If this is the case in your business, consider talking to us about key man insurance.
With key man insurance from Strong Tower Insurance, you can guarantee that with the loss of an employee that your business depends on, your business will receive a sum that can help cover sales loss, hire new employees, or any other activity that will need to occur upon the key employee’s death.
If you are wondering if your Florida or Georgia business should consider key man insurance, consider the following situations:
- If business operation will be interrupted upon the loss of one employee. If you will need to halt operations until a key employee is replaced, consider key man insurance to cover ongoing costs while personnel are hired.
- If the business cannot continue without a particular employee. If your business is based around the work of one employee, it is important that the business have money to help with the dissolving of the company upon that person’s death.
- If the company will grow in the future. If you are considering getting financing for the company, or are thinking of receiving credit, some banks and lending institutions will require your business have this coverage.
It is also possible to purchase key man insurance with a ‘first to die’ provision. This policy will cover a few key employees, but will only pay out upon the first death of a group member.
If you would like a quote, or have questions regarding key man insurance, please call us at Strong Tower Insurance! We are happy to assist you, and would love to insure your important employees and further aid your business.