Tabitha E. Walker Insurance Agency Join Our Newsletter Submit A Claim blogs Make A Payment Referrals Facebook Follow on Twitter LinkedIn
Alternate Content
Get A Quote

Life Insurance QuoteHave you ever wondered how your business would be impacted if something were to happen to one of your key employees?

Do you have an employee who has a special skill set or trade? How much would it cost your business to hire or train another employee to do the same job?

Life insurance can be used in many ways, but oftentimes business owners don’t realize that it can be used to protect their business if something happens to one of their employees. This is commonly referred to as key-person insurance.

A business owner will take a life insurance policy out on an employee, usually paying for the premiums with company dollars. The employee would be the insured on the policy, but the main difference on key-person policies is that the business is actually listed as the beneficiary.

If the insured passes away the business will receive the death benefit amount tax-free, which provides immediate cash flow to the business so it can continue to operate normally.

The money can be used to compensate for lost revenue, to train another employee, to purchase additional equipment or machines, or to hire another employee with the same skill set.

The sudden death of an employee can be devastative to a business, but by using a key-person insurance policy, you can protect your business in the event that something like this does happen.

If you have any questions on key-person insurance in Stafford VA or you need help setting up a policy, please call us today – Tabitha E. Walker Insurance Agency 540.657.5633!
Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2018
  • 2015
  • 2014
  • 2013
  • 2012

View Mobile Version
Home Page
About Us
Free Quotes
Contact Us
Visit our mobile site

Mailing: 11 Hope Rd., Suite 111-306 Stafford, VA 22554 Location:  25 Clement Drive Stafford, VA 22554

      Phone: 540.657.5633 / Fax: 540.657.5636

Licensed in Virginia, Maryland, Washington DC

Tabitha E. Walker Insurance Agency
Home Page