Key Man Settlements

Corporate Owned Life Insurance/Trusts & Estates

What are Key man Settlements?

Key man settlements are for Individuals and corporations that have life insurance policies in trusts and estates that are no longer needed or just not cost effective. There are numerous reasons to take part in life insurance settlement. Some include:

• Beneficiary has been outlived

• Estate Size has changed

• The estate is being passed on to the beneficiaries through an estate planning method and the life insurance once used to pay estate taxes has outlived its use.

• A life insurance policy required because of a small business loan is no longer needed because the loan is paid off or the key man has retired.

• Amount of coverage is no longer needed

• A key executive has retired and the coverage is no longer needed. (Getting back the premiums paid on a key man policy is an effective way to fund coverage for his/her successor.)

Benefits of a Key man settlement

• Eliminate high premium payments

• Lump sum of funds

• The cash received for policy plus saved premium payments may be better utilized

• Alternative investments are desired

• Your quality of life and standard of living can be enhanced

• Give money to your children and watch them enjoy it

Contact West Coast today to see if you or someone know qualifies for a key man settlement. You may also request more information about key man settlements using the form on the homepage. Professionals Welcome!