Help your business continue after a key loss.

A life insurance policy a business buys on an owner, founder, or employee whose loss would seriously damage the company. The business pays the premium, owns the policy, and receives the benefit, which it can use to steady operations, replace revenue, recruit a successor, or fund a buy-sell agreement.

You can start the application online with your business named as the policy owner, and the carrier's application collects the required consent paperwork and underwriting information. A licensed agent stays available throughout, and some cases still finish with one, depending on the carrier and the amount.

Federal rules for employer-owned life insurance (IRC section 101(j)) make the death benefit taxable to the employer unless notice-and-consent requirements are met before the policy is issued, with exceptions that depend on who the insured is. We handle the consent paperwork as part of the process, and your tax adviser should confirm how the rules apply to your business.

Usually not. SBA and bank lenders typically require a personal policy on the owner with a collateral assignment to the lender, which is a different structure you can quote online. If the requirement came from a lender, start on our SBA loan life insurance page.

It depends on what the person contributes and what the agreement requires. Carriers commonly evaluate requests against the key person's compensation and role. The right number comes out of the conversation, and the carrier decides what it will issue.