Key Man Insurance

Key Man Insurance
Key-man or key employee life insurance is vital to the survival of your company. As a business owner, developing contingency plans to ensure the continued operations of your business is fundamental. That is where a key employee life insurance policy becomes critical. It provides your business with protection should something happen to your key employee(s).
Could your company bear the loss of a key executive or key employee? Who will lead your company when the CEO retires? What if your top salesperson or partner becomes permanently disabled? Do you have a plan?
Key-man insurance is coverage that will protect your company in the case of the untimely death or disability of a top salesperson, executive or business owner. Key-man insurance provides peace of mind to business owners and shareholders, by providing a financial safety blanket to operational disruptions that may arise in the event of the loss of a key employee. If death or disability strikes your company, key-man insurance may be the difference between success and failure.
StateTrust Life and Annuities offers the following products which can be tailored to provide key-man insurance:
Product Name Product Type Description
Lighthouse Term Life This product offers coverage using level premiums for the duration of the policy. It does not have an investment component and as such, it offers the insured amount at the lowest possible cost.
Sentinel Term Life with Return of Premium This product offers coverage using level premiums for the duration of the policy. The policy will not only provide key-man insurance in case of an untimely death, but in addition, it will reimburse all the premiums paid at the end of the insured period.
Legacy Universal Variable Life This is a policy that combines variable and universal life insurance. This is a popular insurance product because it provides the flexibility for policy holders to invest with insurance coverage. Our policy provides exposure to the world’s top capital markets and can be tailored to your key-man needs.
Compass Index Universal Index Life This policy gives the policy holder key-man insurance coverage, as well as the opportunity to allocate its investments to the S&P 500 Index; with a minimum guaranteed return of 0% every 24 months (principal protection), and a 70% participation in the growth of the Index.
Heritage Universal Life A policy with a minimum guaranteed yearly return that avoids capital loss. The policy offers permanent coverage while accumulating savings that can be used by the policy owner during the life of the policy. The savings can be obtained through loans and partial and total surrenders in case of a financial emergency at your company.
Alliance Whole Life This policy offers level premiums and life insurance protection for as long as your key-man lives or works for the company, provided that premiums are paid as required keeping the policy in force. The insurance component pays a stated amount upon death of the key-man.