Business Life Insurance
Life insurance financially protects a business from adverse impact if an owner or key employee suddenly dies. The policy provides funds to repay debt or continue operations, as well as find, recruit, and train a replacement. This helps replace any lost profits, strengthening the balance sheet to assure suppliers, creditors, customers, and investors that the business will continue. There are guidelines:
|20 - 40
|41 - 50
|51 - 55
|56 - 65
|66 - 70
If applicant has existing life insurance, reduce the maximum by that amount.
For a non-employed spouse, if household income is:
For Estate Conservation, need is based on taxable value of the estate. Estate conservation analysis must be included with application. Maximum allowable growth rate is 6% up to a maximum limit of double the current gross estate.
Your client wants to buy a very large policy, or already has a considerable amount of life insurance and wants to buy more. Each company has underwriting limits, but there are some general guidelines. By being aware of them, you can avoid having to explain why the company didn't approve the amount applied for. If you can financially justify with acceptable documentation, almost any amount can be considered. These are common financial situations:
The easiest way to sell life insurance!
This website is for licensed insurance agents and their support staff - Not for dissemination to the public.