Help your clients recover from the unexpected loss of top talent.
Oftentimes, the most valuable assets of any business are the key people who contribute most to its success. If their loss would create a financial burden that puts the business at risk, a key person insurance policy is a simple and efficient solution. With key person insurance, your business is the owner and beneficiary of a life insurance policy for each key employee chosen, which can include business owners. If the unexpected does happen, the business receives cash, generally income tax free, to help overcome the financial burden of the loss.
- Immediate cash – So business owners don’t have to worry about how they will pay for the loss and replacement of a key employee.
- Cost efficiency – Low-cost term or permanent policies may provide significant death benefits.
- Cash value potential with permanent policy option – Potential cash values can remain an asset on the balance sheet or be used for other expenses, such as a key employee benefit program.
Key Person Producer Approach Email (LF525)
Show producers how easy it is to calculate clients' key person insurance needs with our calculator.
Get Email (OFT)
Key Person Opportunity Email (LF647)
Outlines the sales opportunity that key person insurance presents as a business protection strategy for business owners.
Get Email (OFT)
For help with any of the email templates in this section, please send a message to firstname.lastname@example.org. You must have Outlook in order to use .oft files.
Before the Sale
Key Person Insurance Flyer (LH160C)
Use with clients to help them understand the importance of key person insurance, how it works and the advantages of purchasing it. Can be customized to show just life insurance or just disability insurance by using the Order link.
View Life/Disability Combo (PDF) • Order
During the Sale
Key Person Calculator and Sample Outputs
Let our easy-to-use calculator help determine how much life insurance your clients may need on their most valued employees. The proposal will also include a quick quote for 10-, 15-, 20- and 30-year term insurance.
- Key Person Calculator
- Key Employee Sample Output for Owners (BB10466A)
- Key Employee Sample for Non-Owners (BB10466B)
Request for Proposal (DD9096C)
If you need a more formal, customized proposal after you’ve calculated the insurance need, complete and submit the Request for Proposal. Our Case Design team will create a formal Key Person report.
After the Sale
Key Person Resolution (BB10451)
Key executive insurance resolution authorizing purchase.
Key materials listed below.
IRC Section 101(j) Taxation Update (BB10051)
Use this thought capital piece to stay informed about IRC 101(j) and Notice 2009-48 and how you can help your clients stay compliant so death proceeds from employer-owned life insurance are income tax free.
Business Submission Checklist (DD849R)
Form that must be used when submitting Life applications to BMA to fund BOES solutions