Key Person Insurance
The specialized knowledge and skills of key employees are more vital to business success than ever before. Life insurance on a key employee can be a cost effective means of providing funding to help a business to recover in the unfortunate event of the employees passing.
If you are not a sole business owner, it’s important to know your business can be protected upon occurrence of certain events such as retirement, disability, and death of a co–owner. We can help you stay ahead of the curve with a buy/sell agreement — a binding contract2 between business partners that defines who can purchase a departing owners share of the business and establishes what price will be paid for that share. The agreement is designed to help:
Buy/Sell Agreements often use an insurance policy as their primary funding vehicle.
1 Investment and certain insurance products, including annuities, are offered by HSBC Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC. In California, HSI conducts insurance business as HSBC Securities Insurance Services. License #: OE67746. HSI is an affiliate of HSBC Bank USA, N.A. Whole life, universal life, term life, and other types of insurance are provided by unaffiliated third parties and are offered through Insurance Agents of HSBC Insurance Agency (USA) Inc., which is a wholly owned subsidiary of HSBC Bank USA, N.A. Products and services may vary by state and are not available in all states. California license #: OD36843. All decisions regarding the tax implications of your investment(s) should be made in connection with your independent tax advisor.
2 Please consult with a legal and/or accounting professional for additional information on buy/sell agreements.
Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
ARE NOT A BANK DEPOSIT OR OBLIGATION OF THE BANK OR ANY OF ITS AFFILIATES
|ARE NOT FDIC INSURED
||ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
||ARE NOT GUARANTEED BY THE BANK OR ANY OF ITS AFFILIATES
||MAY LOSE VALUE