Unexpected loss
"Small and mid-sized companies need a mechanism that helps them deal with the death or disability of shareholders and key individuals, both of which are foundational to the company's ability to perform and maintain company value," says Sean O'Connor, PA/WVA Middle Market Group Le...
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| Veröffentlicht in: | Smart Business Pittsburgh 2024-05, Vol.30 (10), p.12-12 |
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| creator | Burroughs, Adam |
| description | "Small and mid-sized companies need a mechanism that helps them deal with the death or disability of shareholders and key individuals, both of which are foundational to the company's ability to perform and maintain company value," says Sean O'Connor, PA/WVA Middle Market Group Leader, Huntington Bank. Life insurance, in this scenario, would serve as a safety net, replacing the monetary value of what that key person brings to the company while giving the company time to adjust and replace the person in the event he or she is unexpectedly lost. In some instances, a bank may require a company to have an insurance policy in place to cover the value of a loan to ensure it gets repaid if a critical member of the business passes away. |
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Life insurance, in this scenario, would serve as a safety net, replacing the monetary value of what that key person brings to the company while giving the company time to adjust and replace the person in the event he or she is unexpectedly lost. 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Life insurance, in this scenario, would serve as a safety net, replacing the monetary value of what that key person brings to the company while giving the company time to adjust and replace the person in the event he or she is unexpectedly lost. In some instances, a bank may require a company to have an insurance policy in place to cover the value of a loan to ensure it gets repaid if a critical member of the business passes away.</abstract><cop>Pittsburgh</cop><pub>Smart Business Network</pub></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 1544-8711 |
| ispartof | Smart Business Pittsburgh, 2024-05, Vol.30 (10), p.12-12 |
| issn | 1544-8711 |
| language | eng |
| recordid | cdi_proquest_reports_3052177832 |
| source | Business Source Complete |
| subjects | Compensation plans Executives Funding Insurance policies Life insurance O Connor, Sean Stockholders |
| title | Unexpected loss |
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