Family protection
Consider coverage to help your family manage personal obligations if you pass away.
BUSINESS OWNER PROTECTION
You built the business.
Protect the people behind it.
Your business supports employees, partners and family. Review personal life insurance and potential business continuity strategies with a licensed agent.
Insurance InquiryOften no medical exams or blood tests required. Same day coverage may be available to qualifying applicants. Eligibility varies by carrier and underwriting.
Explore coverage details
Key person considerations
Eligible businesses may use appropriately structured life insurance to address the financial loss of a key person.
Ownership continuity
Life insurance may help fund a properly drafted buy sell agreement. Legal and tax professionals should review the arrangement.
Sole proprietor, partner or employer?
Start with your protection priorities. Business arrangements and policy ownership require individual review.
Frequently asked questions
What is key person life insurance?
Key person life insurance is coverage a business may own on a qualifying individual whose death could create financial disruption. Ownership, consent, tax treatment and insurable interest require careful review.
Can life insurance help fund a buy sell agreement?
Life insurance can sometimes provide funds for a properly drafted buy sell arrangement. An attorney and tax professional should review the agreement and ownership structure.
Should a business owner also have personal coverage?
Personal life insurance and business-owned coverage serve different purposes. A review should consider family obligations, business debts, existing policies and affordability.
Life insurance is subject to underwriting, policy terms, exclusions and carrier availability. Available accelerated death benefits may reduce the death benefit and are not disability insurance. Coverage and rates are not guaranteed. SummitLine Protection Group serves clients in states where appropriately licensed.