Key Person Insurance with Indexed Universal Life Policy | Business Protection Tips

Описание: Indexed universal life insurance policies provide both a death benefit and a cash value component that can grow over time. By having a business purchase this type of policy for a key person insured, the business can protect itself from financial losses in the event of the key person’s death. The death benefit can be used to cover expenses such as lost income, hiring and training a replacement, and paying off debts or other obligations.

Additionally, the cash value component of the policy can be used to provide supplemental retirement income or to fund other business needs. The policy can also be used as collateral for loans or other financing needs.

Overall, having a business purchase an indexed universal life insurance policy for a key person insured can provide financial protection and flexibility for the business.

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