All businesses have key assets that must be protected against loss; within a small business it is often a key person. Let Monarch provide insurance for this key asset.
Business life insurance options from Monarch primarily help safeguard against two common issues facing a closely held corporation or small business: business continuation and key employee death.
A plan for business continuity often revolves around a buy-sell agreement in the death of a principal, one that can be funded by business life insurance.
While funds to buy out the other principals may come from other sources, life insurance offers the advantages of being federal income tax free at receipt and a long term plan where annual premiums make up a small percentage of the overall death benefit.
By the same token of business continuation in the face of unfortunate circumstances, key man insurance ensures the continued success & operation of the business with a cash payment to fund not only a talented replacement but also the long term development plan that may have been jeopardized.