KEY PERSON INSURANCE
Key person insurance ensures that your company will continue to operate profitably in the event of a key person’s death, being declared totally and Permanently Disabled (TPD) or being diagnosed of a Trauma event as described in the insurance policy.
The benefit is paid as a lump sum and the business will use the proceeds to repay liabilities or meet cash flow and recruitment costs whilst the key person recovers.
There are two types of key person insurance: Capital and Income. Capital to repay loans etc. and Income to meet the costs of recruitment etc. The tax treatment of the premiums and benefits are different and advice must be sought to correctly structure the policy.
Our Testimonials
We could not have been more pleased with our experience with Gillman and Associates. Brian is incredibly knowledgeable and took the time to explain all of our options to us in detail. He guided us through the insurance process with a high level of expertise so that we felt confident and comfortable with our decisions. I highly recommend Gillman and Associates!
Now I know why (anon) says you are the best. We both feel that you are looking after our best interest.
I make it a point not to teach bricklayers how to lay bricks. I just find the best bricklayer I can, and trust his advice.
Just a quick note to express my appreciation for the fantastic job that you do for me. You’ve always had my interests at heart .Your advise based on your amazing product knowledge and my needs, and your genuine concern for our well being has built great trust over the past Ten years that you’ve taken care of us .