Developing a plan to protect your business
Every company needs a strategy for business continuity in the event that a key employee can no longer serve in their position. Business continuation insurance is a risk management strategy that enables remaining business partners to move forward.
Our team at Benico, Ltd. will help you develop a plan to protect your business in the event of the death, disability or retirement of the owner or key employee who may be vital to the success of your business.
Business Continuation Insurance will provide funds to continue business and cover losses. These insurance plans usually consist of life and disability policies structured to meet the business continuity needs of the business owners. These policies are payable per the terms of an ownership transition contract — typically either a buy-sell, cross-purchase or entity purchase agreement.