Small Business Insurance

Key Man Insurance

Both large and small businesses often have one or two individuals that are responsible for a huge portion of the companies revenue, lie the CEO, Owner or a key employee.

Unexpectedly losing someone central to company viability could irrevocably harm the business or even force it into bankruptcy. Key man (or key person) insurance mitigates against this possibility and protects the business if they experience a key person loss.

Buy-Sell Agreements

A funded buy-sell agreement can help protect your business and family. It is basically an exit strategy for you and your business partners. It can help protect you and your family because it sets ground rules for how ownership shares should be handled should you or one of your partners leave the business.

“Unless you have a buy-sell” agreement, you could find yourself sharing the reins with a former partner’s spouse, children or someone else who knows little about your business and isn’t as invested in it’s success as you are. Yet that scenario often plays out either because business partners never created or funded an agreement in the first place, or the one they have is outdated.

Let Harbor Benefits & Insurance Services use our experience in business continuity planning to help you prepare for the unexpected.

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