Trustco's agents can help you determine the right type and amount of insurance for your situation with our unique financial planning process.
Below are some of the uses of Life Insurance:
- Buy/sell agreements - Life insurance can fund an agreement between business partners. For instance, if one partner dies, the death benefit purchases the deceased partner's interest in the business.
- Credit line coverage - Life insurance can help secure a line of credit. Many banks view this policy as a business asset that can be used as collateral for a loan.
- Key person coverage - Some of your most valuable employees may be lacking titles but have crucial knowledge of your company & operations. Should an essential programmer, operator, engineer, or executive perish, the company will suffer both immediate financial losses along with ongoing expenses to replace that employee. Key person coverage can address that.
- Employee benefit - Group life insurance is a valuable benefit used to attract quality employees.