There are times in business when it would be nice of have life insurance and then there are times when there really is no other choice, life insurance is the answer to a business question and nothing else will meet that need. This usually isn’t a big deal until you run into an unusual situation that doesn’t fall into normal underwriting parameters.
But what happens in, for instance, the need for buy/sell life insurance or key man life insurance if the insured or one of the insured would be declined due to health issues by traditional companies? What happens if a partner in your business lives overseas? This may not completely rule out traditional insurance unless that partner is in the middle east, Africa or somewhere else that isn’t on the top ten vacation spots for American life insurance underwriters.
When it comes to CEO or executive life insurance risk often it isn’t just a convenience to have, but rather a requirement of the board of directors or the banks that a business works through. Especially in international business a bank wants to know that if a key person or partner in the business were to die that their risk is taken care of. With so many new companies springing up to meet the need for civilian contracting overseas and in war zones there is often tens to hundreds of millions at stake and not having life insurance on the CEO or the partners in that type of business begs the question about who will take care of the mess left behind if someone dies.
Taking it further with so many start up companies working in dangerous places in quest of the big bucks, coverage for those employees that are on the ground doing the work in the worst of circumstances should be offered insurance as part of an employment package. Traditional risk life insurance companies aren’t going to touch that kind of coverage, but like the business situations above, we can accommodate even the oddest of requests through our connections with Lloyds of London. We’re aware that the mere mention of Lloyds carries with it a supposition of high prices, but our clients are often very pleased with the packages that we can put together, the speed with which we can put them together, the multinational flexibility, the high limits and the reasonable price.
So, whether it is a high risk health issue that is keeping your company from having the proper life insurance, or the nature or location of the work, reasonable coverage with limits adequate to meet almost any business need is just a call or email away. We can help.
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