June 16th, 2010
Legacy Quote is happy to provide the answers about Key Man Insurance.
What is Key Man Insurance? Who needs Key man Insurance? Why buy Key Man Insurance?
Key Man Insurance is an Life Insurance policy which is executed on a Key Man or Key Person with the company who has a substantial impact on the viability of the company. Insuring this Key Person or Key Man is sound business practice for many reasons.
Companies and partnerships that need Key Man Insurance are not categorized by any industry but more so the significance of the partner or owner’s daily contributions.
For example: If 3 Attorney’s formed a Law Partnership and one of the Attorney’s defined role was mostly that of a sales role and he spent most of his time meeting with banks trying to secure their REO business legal work and the other 2 attorney’s roles were to do the REO work. The partnership would have a difficult time surviving if one of the 3 became disabled or died. The most likely scenario in this case would be to dissolve the partnership.
This is the precise reason to buy Key Man Insurance. Many small to medium sized companies and partnerships are defined by a few Key People who make it all happen. Make sure your loved ones are enjoying your hard earned legacy with a well funded Key Man Insurance Policy well after you are gone.
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Tags: Key Man Business Insurance, Key man Insurance, Key Man or Key Person Insurance, Key Person Insurance, Why Buy Key Man Insurance?
June 15th, 2010
Important facts for Business Continuation Planning. 5 Business Continuation Planning tips for your company’s or partnership’s Business Succession success.
What are the most important components of your Business Continuation Planning strategy?
Did you know that a little over 45% of all business owners on average have most of their net worth tied up in their business? Did you know that only 28% of all business owners have some type of Business Succession Plan in place?
Here are alarming statistics about Business Succession Planning.
Less than 30% of all family business that is passed down to the second generation will survive and it falls off even more to the third generation where only 12% of all family business passed down make it.
The question is why is this, and what can be done to stop it. Those are eye popping numbers.
We are confident you can pass on your legacy and you family business with excellent strategic Business Continuation Planning.
Here are 5 tips to consider when executing your Business Succession Plan.
1. Write and execute a buy-sell agreement.
2. Define the short and long term business goals from the ownership.
3. Value the business. Use a certified appraiser or business evaluation specialist.
4. Consider which partners need to have Key Person or Key Man Insurance and fund the policies.
5. Purchase Life Insurance Policies that have a disability benefit as well as a death benefit for all critical partners and owners and fund these policies as executive benefits paid by the company.
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Tags: Business Continuation Planning, Business Succession, Executive Disability Insurance, Key man Insurance, Key Person Insurance
June 14th, 2010
How do evaluate my life insurance policy? Will it cost anything to evaluate my current life insurance policy?
The best way to evaluate your current life insurance policy would be to gather a list of life insurance companies that offer the same life insurance product you currently are covered by and do a systematic review of the performance of the premium, cash value and projected value as well as if the face amount is proper for the insured individual at a lower monthly or annual premium.
This task can be a couple days worth of work to do and some of the clients we work with start this process only to reach a point in their research that requires a more in depth analysis that requires more time than they want to commit to. That is where we come in at Legacy Quote, take us up on our free current policy evaluation today.
In many cases, we find our clients and write a better performing life insurance policy with higher standards of coverage for less premium. Our trusted advisor’s work hard to find the best life insurance programs available in the marketplace.
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Tags: Analysis of My Current Life Insurance Policy, Evaluate my Life Insurance, Free Life Insurance Policy Evaluation, How do i evaluate my life insurance policy?, Legacy Quote Life Insurance Policy Evaluation
June 11th, 2010
Are you a high net worth individual that is currently online searching to find a trusted insurance advisor who works with a solid reputable life insurance company to do business with? Have you been searching for a trusted advisor who consults with high net worth individuals like yourself about his or hers insurance needs on a regular basis? Would you like to work directly with our managing partner Bill Brauer, who has over 25 years of high net worth insurance experience working with individuals like you?
If you have answered yes to any of the questions above, I would like to extend a personal invitation to call me directly to speak with confidentially about your life insurance needs. 1-800-356-6552
If you are online after business hours, you may schedule a short 10-15 minute consultation for a time in the next day or 2 that is convenient for you by clicking on the book now button. I will call you at that time. You will receive an e-mail confirming the appointment.
Thank you for visiting my blog and I look forward to hearing from you.
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Tags: 15 Minute Life Insurance Consultation, Bill Brauer Managing Director, Finding a Life Insurance Advisor, Insurance for High Net Worth Individuals, Leaving More of Your Legacy Behind Is Our Business, Legacy Quote
June 10th, 2010
How much life insurance coverage do i need? How many recommendations should i consider?
In the following post I will share a few recommendations to secure proper life insurance coverage.
The number one consideration I continually advise on year after year is how much life insurance coverage should i buy? The answer is never the same for any 2 people. So much depends on your current portfolio and insurance policies that may be purchased by your company on your behalf.
The second consideration is who should be the benefactor? My advice here is that your loved ones are the obvious choices. You may also want to consider low paid or non paid caregivers that helped your family along the way.
The last two life insurance coverage recommendations would be do business with a reputable company that has an excellent track record and stellar financial ratings.
In closing, work with an independent life insurance advisor with unbiased representation. We feel strongly that our objective advising puts you in a position to receive the best life insurance coverage at the fairest price.
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Tags: Analysis of My Current Life Insurance Policy, Independent Life Insurance Advisor's, Life Insurance Benefactor Choices, Life Insurance Considerations, Life Insurance Coverage, Recommendations of Life Insurance Coverage
