O'Brien Benefits & Financial Services, Inc.



Take Care of Your Key People

Sometimes it’s hard to adequately protect your strongest assets, the key people who make your company run and succeed.  When key personnel suffer an illness or injury, it can lead to an enormous strain on the company, or worse it can wipe it out.  Key Person Benefits can protect a business owner from this type of loss, and additionally, because traditional group insurance only covers a fraction of a key executive’s high income, a key person life or disability policy will adequately protect you, your key people and their families from loss, should the unexpected happen. 

Review these coverages below to protect your high-earning, valuable key executives and your business and request a quote today!

Buy-Sell Agreements

Buy-Sell Agreements protect a business after the death of a key employee. Also, known as Continuation Agreements, they are tied to and funded by life insurance policies. The agreement sets out the details of the transfer of business interest by the key-person (or his/her estate) upon a certain triggering event–usually death, disability and retirement. The surviving or continuing business owner or partner can rest assured knowing that they will be able to purchase the key-person share without interference from other survivors of the key person and his/her estate.

Overhead Disability

A Business Overhead Disability policy prevents businesses from going under from regular overhead expenses while the business owner is unable to work and run the business due to disability. These types of policies will typically pay for things like employee salaries, rent and utilities, among other expenses.

Key Person Life Insurance

Key Person (Key Man) Life Insurance protects your business if one of the main partners passes away unexpectedly, and helps to minimize financial loss. Your business is typically responsible for the premiums, as it is also the beneficiary. The value of your business (as established through financial records) will help to determine the benefit level and premium amounts.