Do I need life insurance on key employees?
Yes, you want life insurance on your key employees.
Do you remember the conversation about transferring the risk versus retaining it?
The #1 Asset in your business is you!
People are assets, things are not. Human life value is the source and creator of all property value.
Learn to see, and treat the team members, key employees in your office, and all employees as assets, as number one assets.
Can you say YES to the following?
- Knowing that an employee’s human life value is the source and the creator for the value that is created and exchanged in your business,
- They have been with you for a while
- You can prove to the life insurance company that if something happened to them, there’d be an economic loss for your business.
If you can check off that list, then. yes, you can purchase life insurance on those key employees. If they died, there would be a massive economic loss into your business.
Just like why you would buy life insurance on yourself; to transfer the risk versus retaining it for your family, for a business partner, and certainly for key employees.
Remember, that’s what life insurance death benefit is, it allows us to pay pennies to get dollars in benefits if something were to happen.
Most importantly, when you have key employee policies in place, you can leveraging that in your life and the lives of those around you, your clients, your patients, those you serve and create value for, to be able to continue to create at the highest level possible.
Yes, you will want life insurance on your key employees.
If you’re wondering about getting policies on key employees, email info@vaultais or call the office at 435-656-3882, to get on my schedule. Together, let’s do a review of who your key employees are and what might be possible for you in that area.