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Executive – Key Man Insurance

Have you ever considered how your business would recover after the death of one of its key executives? Key Man Life & Disability Insurance coverages can help keep your company running in the event of the death or disability of a key employee.

What is Key Man Life Insurance?

In today’s business world, many employees are viewed as easily replaceable. But, let’s face it, not everyone is. There are members of your team that have superior company, product, or industry knowledge that you heavily rely on for success. If your business lost this employee due to death or another form of incapacitation, it would require significant time and funding to recover. We suggest you take out an executive life or disability insurance plan to ensure your business can survive this type of loss.

Key person life insurance, also known as key man life insurance, or business continuation coverage, offers a lump sum payment upon the death of a key employee, partner, or principal of a company. The primary purpose of the policy is to assist with the transition period and provide supplemental resources. These policies may be tax deductible and can be offered in the form of a salary increase which saves income tax. Your business will benefit from these policies’ positive effects on employee recruitment and retention. The executive insurance plans we offer address the following: new hire recruitment and training; shareholder and partnership protection; loan obligations; profit loss; and other costs that help fill the void.

You can trust InSource to protect your company from the loss of a key executive. Our policies safeguard your company from the risks associated with the loss of a key employee.

Why Trust InSource?

Our employees’ passion and professionalism have earned our company the reputation as a top insurance agency in Midland, Odessa, and Lubbock, Texas. We also have employees stationed remotely who are licensed to sell and service insurance products in almost every state. Although we specialize in working with oil and gas companies, life insurance products are not specific to any industry. Our team is experienced in fulfilling the insurance needs of businesses of all sizes in a variety of industries. Working with such diverse clientele has allowed us to develop partnerships with multiple insurance carriers who offer these policies. Each of these carriers offer a suite of dependable and reputable coverage options to fit even the most unique needs and budget.

Our team members will educate you on the policies and assist you in choosing the plan that will most benefit your business. We will continue our customer focus throughout our relationship and always offer our support and expertise. If you are ready to begin developing your unique policy or want to learn more about other ways we can assist your business, contact us today to get started!

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