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When considering key person insurance, the first step for any business is to determine the company’s reason for buying the policy. Once the actual purpose of the insurance is established, the correct type of coverage can be identified. The 3 basic types of life insurance used to fund key person insurance include term life, universal.. More

A buy-sell agreement is the practical result of comprehensive business succession planning. It is a legally binding document which protects the interests of a company’s owners and permits the business to continue efficient in the event of the death, disability, or retirement of a business owner. A buy-sell agreement, commonly referred to as buy-out agreement,.. More

Business continuation planning, also called business succession planning, is the comprehensive process of identifying all potential threats to the long term viability of an organization and implementing strategies to mitigate these risks. Owners of successful businesses must plan for contingencies that could negatively impact their company. Do you have a plan? Why is business continuation.. More

In business succession planning, especially when funding corporate buy-outs, one of the primary considerations should be the tax advantages of permanent life insurance. The primary reason businesses purchase life insurance is to protect the company from unnecessary risks. However, permanent life insurance has other valuable business uses as well including providing valuable executive benefits, funding.. More

As we approach the beginning of a new year,  now is the best time to review your business life insurance. Happy New Year and we hope that this next year will be your greatest ever! At the end of every year, it is a common practice for each of us to make resolutions for the.. More

Occasionally, when working with a business owner or prospective business owner, we get a request for an accidental death insurance policy to protect their business. In many of these cases they have been advised to buy key man insurance by their attorney or banker and are shopping for the best deal. In an effort to.. More

Disability insurance is a foundational risk management strategy that is often overlooked by both individuals and businesses. It is well known and widely accepted by most people that the risk of disability for most of us is significantly greater than death. While both individual disability and key person disability are vitally important, they are not.. More

Churches that are borrowing funds for building projects should strongly consider key man insurance for pastors and even their board members.  In many cases, banks require a key man life insurance as a condition for any loan. Consequently, churches that have a key man policy may have an advantage with prospective lenders. This is a.. More

Securing key man insurance if you have a health problem can be challenging. However, there are several key tips that can help you get a positive result. Following is a real key man life insurance case that we worked at MEG Financial. The names have been changes to protect the identity of the individual and.. More

This is an actual example of a business succession planning case using a  cross purchase buy-sell agreement that we helped to implement and fund. The names have been changed to protect the privacy of the actual company and its owners. The business owners of ABC, Inc., an international trading company in Miami, FL contacted our.. More