Business Life Insurance in 3 Types

As an entrepreneur, you are surely after your business’s safety and your employees’ growth and sustainable development. As a business owner, you may often wonder how to keep your business profitable and how you can retain your employees, especially the good ones.

To keep you in the loop with a secured future, you need a business insurance that will protect you in any case of financial loss and to manage any risks more constructively.

In many businesses, insurance is very important because it serves as a form of protection from inevitable happenings. Moreover, the policy presented by the insurance company can make amends to what will be the loss in the long run, if there will be any.

For many, whether a private individual, a business, or a corporation, getting an insurance is a good investment. Furthermore, it makes you more protected.

Herein, we  have three types of business life insurance that you should consider getting today:

Key Person Insurance

More than you, your business is profitable and successful because of your employees. Of course, the productive and valuable employee is worth keeping and you aim to retain him/her as long as you could.

The Key Person Insurance does it. It is business life insurance inclined for a key person in your business. As a business owner, you can apply your key employee for any coverage. This Key Person Insurance will help you and your business to sustain its run even in cases of the assigned key employee’s demise or lengthened absence.

Executive Bonus Plan

The Executive Bonus Plan allows any business owners retain and recruit the best employees. This insurance plan provides selected employees some incentives through fund allocation after he/she acquire a life insurance.

Any employees will surely appreciate having a life insurance they are fully aware and in control of. This will make them more engaged and be productive knowing that they are secured for the succeeding years to come.

Funded Buy-Sell Agreement

This Buy-Sell Agreement can help businesses create succession plans in case the employee who availed resigns or retires from the company. The business can have the right to purchase the said employee’s share with determined value.

Insurance is vital for any business and/or individual for that matter. It serves as a form of safety net to any person or corporation in case there are inevitable circumstances in the long run. Insurance, for the majority, is considered to be a nice framework for managing risks.

At Filer Insurance, Inc., we aim to make our client’s lives easier with life insurance policies that are tailored to their needs. You can get more information about our products and services by calling our agency at (305) 270-2100. Get your free quote today by CLICKING HERE.

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