Chris Leitch and Nick Springer standing in the lobby of the Commonwealth Centre Office

Key Man Life Insurance

Waht is Key Man Life Insurance?

What if your best sales person is not there any more?

Categories: Benefits

Also Known As : Business Life Insurance, BOLI, Key Person, Key Man

Replacing a key person takes time and money and could cost the business valuable clients during the transition. Key person life insurance offers a death benefit that can help cover financial losses that occur at the death of a key person. This helps assure continuity of the business for employees, customers and creditors.

Why Woodlake?

Woodlake is an important local market for The Springer Agency because it includes Woodlake families with insurance needs that are not always handled well by a basic online quote. Risks in this area can involve lake access, trails, HOAs, wooded lots, teen drivers, boats, and water backup. The Springer Agency helps clients review homeowners, auto, umbrella, business, farm, boat, or specialty coverage depending on how the property, vehicles, and household are actually used. The Springer Agency can help Woodlake families compare multiple insurance carriers, review replacement cost, liability limits, deductibles, water backup, roof settlement terms, and other coverage details before a claim happens. Because every neighborhood and property type is different, The Springer Agency’s independent approach gives clients in Woodlake a practical way to match coverage to real local risks.

The death benefit can be used to recruit and develop a replacement for the previous key employee