Cox Capital Corporation - Affordable Insurance Nationwide

Executive Key Person Insurance

What is Key Person Insurance?
Key Person Insurance is life insurance coverage that will protect a company in the case of an untimely death to a top executive or owner of a company. An employer may take out Key Person Insurance on any executive that has a large amount of influence over the overall success of the company.

Protecting Your Business
In many cases company success will depend on a few top individuals that provide the skills and experience needed to keep the company growing and while maintaining the growth of previous revenues. The long term outlook and success of the company is directly related to these top employees. Having an untimely death of one of these individuals can set back operations for many months and possibly years. In some cases it has depleted a company all together.

The solution to protecting your company in this situation is placing a Key Person Insurance policy on these individuals. This policy will provide the financial means to stabilize a company during the difficult time following the untimely death of an executive. It is safe to say that during this time production and revenues will not remain the same but the budget will. Key Person Insurance will be the resource to protect your company and will be the bridge to protect the future success of your company.

Securing Financing with Key Person Insurance
As companies grow often times they are in need of financing in order to complete a business project. Using a Key Person Insurance policy as collateral is something that is very common in the lending business. Most financial institutions and private lenders will want to know how their assets will be protected if something were to happen to a top executive during the term of the loan and will want to ensure their own security if an unfortunate event such as death were to take place. With this collateral being a chief requirement in the loan process your company will be able to secure the desired financing with the lending financial institution becoming completely secure if something were to happen during the term of the loan.

Using Key Person Insurance as a Retirement Account
During the time your company is paying the premium for permanent insurance on the Key Person the policy will increase in cash value. The owner of the policy, which in many cases would be the company itself, may borrow from the policy (which has a cash value that continues to increase over time with the premiums paid into it). These funds are available to be taken out to pay the executive for his time spent with the company as a retirement account and these funds never have to be repaid to the policy.

Why Cox Capital Corporation?
Cox Capital Corporation has provided hundreds of millions of dollars worth of coverage to key executives as well as individuals. Our resources as well as our relationships with insurance companies across North America and Europe are what set us apart. We are partnered with the most powerful insurance companies in the world. We pride ourselves in our ability to get the “uninsurable” insured. Many of our clients have had serious health issues in their past. These serious issues involve heart attack survivors, multiple sclerosis, diabetes as well as late stage cancer survivors. Our office was able to place permanent life insurance on all of these clients.

Cox Capital Corporation has delivered permanent life insurance policies to clients who were previously told that they were uninsurable. Some of the clients were declined by over 75 different insurance companies before Cox Capital Corporation placed permanent insurance on these individuals erasing what was once called uninsurable. If you or one of your key executives feels that they may not qualify for insurance because of previous or current health issues then Cox Capital Corporation is the place for your insurance needs.