Malleo Financial Services

Michael A. Malleo 

Phone: 201-321-7041

mike@malleofinancialservices.com

 

Terms of Notarial Acts:

Acknowledgement – Certifying that a signer personally appeared before the Notary, was identified by the Notary, and acknowledged freely signing a document.

 

Malleo Financial Services is a proud member of ALTA (American Land Title Association), the American Society of Notaries, and the National Notary Association (NNA). We're also a Fidelity National approved closer. 

 

FIDELITY APPROVED CLOSER
FIDELITY APPROVED CLOSER

 

*The opinions expressed on this website are strictly those of Malleo Financial Services, LLC and not those of ASH Brokerage Corp.., or any of our affiliates.

 

*Malleo Financial Services LLC cannot and

will not give any tax or legal advice.

 

KEY EMPLOYEE DEATH OR DISABILITY

Would your business experience a financial loss if a key employee died or became disabled?

 

 

Challenge 

 

Bud Abbott owns Abbott Consulting, a business that relies heavily on excellent outside sales activity. Ten years ago, Bud hired Lou Costello as vice president of sales, and sales have consistently grown under Lou’s management. Bud has made sure to financially reward Lou for his success, but he is worried about what might happen to the business if Lou were to die or become disabled. Lou has developed strong relationships with all the top customers of the consulting firm, so his potential loss would be devastating to the business. Bud estimates his firm would require at least $1 million to replace lost revenues and fund the search and training for an adequate replacement. 

 

 

Solution 

 

Bud purchases both a $1 million "Key-Person” Term Life insurance policy and a $1 million “Key-Person” Disability Income insurance policy on Lou. The policies are simple, effective solutions that will protect Abbott Consulting if Lou were to die or become disabled before retiring.

 

If your business depends on key employees, their death or disability would likely have a negative impact. Key-person policies can protect your business from potentially substantial losses.

 

 

For a free consultation, please contact us for an appointment.

 *This blog is strictly the opinion of Michael A. Malleo and not those of

ASH Brokerage Corp., nor any of our affiliates.

 

Malleo Financial Services LLC cannot and will not give any specific tax or legal advice.

Please consult your tax professional or legal professional for such advice.