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  2. Key Person Life Insurance

Key Person Life Insurance

Protect your business against the loss of one of your most vital assets: key employees

Key people are vital to the success of your business. A Key Person Life Insurance Program can provide the funds you need to keep your business running smoothly after you've lost a key employee through death or employee turnover.

How Key Person Life Insurance Works:

The employer pays premiums for a life insurance policy on the Key employees's life. The employer is the owner and beneficiary.

The employer can arrange an Exchange of Insurance Agreement to reduce losses if a key employee leaves prior to retirement. This allows the employer to transfer coverage to a successor.

If a key employee dies, the employer receives the policy's income tax-free death benefit** and can apply it towards business expenses or losses caused by the employee's death.

If you employ anyone whose sudden, unexpected absence would significantly impact your business, consult with your life insurance agent and financial professionals about Key Person Life Insurance.

 

 

 *Financial Advisors do not provide specific tax, legal advice and this information should not be considered as such. You should always consult your tax/legal advisor regarding your own specific tax/legal situation.

** Subject to the corporate alternative minimum tax for C corporations.

 
 
 
 
 

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121 Continental Drive, Suite 110, Newark, DE 19713 United States
  •  Tel: (302) 366-0366
  •  Fax: (302) 454-9405
  •  service@dsfg.com
200 E. State Street, Suite 303, Media, PA 19063
  •  Tel: 610.565.9550
  •  Fax: 610.892.0822
  •  service@dsfg.com
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UD Blue Hen 17&43 Award is based on eligibility and selection criteria created and maintained by the University of Delaware.  Working with this firm is not a guarantee of future financial results.  Investors should conduct their own evaluation.

Fastest 50 Award is based on a three-year average (2016, 2017, 2018) of steady and/or significant employee and revenue growth. Working with this firm is not a guarantee of future financial results. Investors should conduct their own evaluation.

DSBC Blue Ribbon Award for Best Professional Company is granted based on the firm's involvement with the local chamber of commerce. Working with this individual or firm is not a guarantee of future financial results. Investors should conduct their own evaluation. 

Diamond State Financial Group is independently owned and operated, and offers its own suite of products and services entirely independent of Securian.

Certain individuals associated with Diamond State Financial Group are registered with and offer securities and investment advisory services through Securian Financial Services, Inc. ("Securian"), a registered broker-dealer and investment adviser, member FINRA / SIPC. Individuals registered with Securian are authorized to offer only those securities and investment advisory services that have been specifically approved by Securian. FINRA's BrokerCheck contains additional information about registered individuals and also indicates whether they are registered representatives and/or investment advisor representatives. You may also refer to their individual bio pages on this website to find their registration status. Not all registered persons are registered as investment advisor representatives.  Only registered persons who are registered as investment advisor representatives use titles "advisor" or "financial advisor" and provide advisory services. For further questions about which individuals associated with Diamond State Financial Group are registered with Securian, as well as information about which securities and investment advisory services such individuals are authorized to offer on Securian's behalf, please contact Securian at 1-800-820-4205.

121 Continental Drive, Suite 110, Newark DE 19713.  (302)366-0366 2953023 DOFU 06/2020

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