Business Perpetuation

Business Perpetuation planning is an important process to continue the existence of a business at the retirement, death or disability of the current leadership. Sterling Insurance Group can design a life insurance policy which will provide the funding portion to facilitate a buy-sell agreement in case of death of a business owner or partner.

Business Perpetuation planning is an important business decision and is often overlooked or put off. As business owners, this coverage provides a strategic plan for the continuity of your business and appropriate compensation for you and your family.

Key Person Insurance

Key Person Insurance or “Key-Man Policy” is a policy business owners can purchase on a key person within the organization to protect the business from the financial impact that could result should that employee become ill, disabled, or die. This insurance may be life, health, or disability. Normally, the employee covered has special skills, training, management, or significant attributes that would cause the organization loss of income should that employee become unavailable and a replacement need to be hired or trained.

Disability Insurance

Disability Insurance is a form of health insurance coverage which provides benefits in the form of monthly income to the business in the event a key person is disabled by sickness or accident.

Buy-Sell Agreement

Buy-Sell Agreement is an agreement between two or more people for the future value of the company stock at retirement, death, or disability of the parties involved. The agreement is written by an attorney with the parties’ signatures of approval. These agreements are reviewed and rewritten often as things change. An insurance agent is needed for the funding portions of the death and disability insurance components.

Sterling Insurance Group can provide a financial analysis, access to products, and the individual planning resources needed to structure a secure future for you and your business.

Specializing in middle market Risk Management, our Certified Risk Architects can help you RETHINK your Commercial Insurance strategy to reduce your premiums and improve your bottom line.
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Call toll-free: 888-525-7575 to speak with a Sterling Commercial Lines specialist.

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