Key Person Insurance For Business Owners

As a business owner, you may count on a number of key employees for the successful operation of your company. Many businesses have been built around the strengths and skills of a few individuals whose energy, knowledge or experience makes them a valuable asset to the organization.

Key person insurance can help preserve the value of your business and its continuation in the event of the death of a key stakeholder in the company. Replacing the expertise and knowledge of an essential employee can take time and money and can jeopardize the continuity of the business.

What Is Key Person Life Insurance

The employer establishes a policy as the owner and beneficiary. The key employee would be the life insured but would receive no benefit from the existence of the policy. Death benefit proceeds would be received tax-free by the employer and would provide the liquidity needed to hire and train new skilled individuals and provide cash flow through a period of sales decline..

Ask Our Brokers

At Archway Insurance, our brokers are committed to helping you secure the financial future for you and your business. That’s why we work with major insurance providers to equip you with a comprehensive coverage to get you through a challenging time in your business. We will work hard to find a solution that meets your needs and protects your company’s future.

Buy/sell Insurance For Business Owners

Using insurance to fund a buy sell agreement is a smart business decision. Planning for the loss or disability of a business owner or partner with a buy sell agreement and insurance is crucial to ensuring the continuity of your business and protecting the financial interests of each co-owner’s family.

What Is Buy/Sell Life Insurance

A buy sell agreement specifies what will happen to the interests of an owner, partner or shareholder who passes away or becomes disabled. If your company’s buy sell agreement requires that the other owners or partners must purchase the deceased/disabled owner’s interests, you can use life or disability insurance to fund the buy sell agreement rather than personal funds or business assets.

YOU COULD WIN $5,000 IN CASH!

Starting September 1, 2020, get a quote on car or home insurance with Archway Advantage Group Insurance through Economical® and you’ll be entered to win a cash prize of $5,000 in the $5K Giveaway.

26 prizes of $5,000 will be awarded between November 2020 and April 2021!

Contact us for a quote or tell us your policy renewal date and you will be entered for a chance to win.

Donna Byers | groups@archwayinsurance.ca

1-800-838-2511

Don’t delay – contest closes March 31, 2021.

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