Protect the Continuity of Your Business Against the Loss of a Key Employee or Owner

Does your business include someone whose contribution is vital to your business? If yes, then key person life insurance should be a critical component of your business continuity and succession plan— especially if you're a small business owner.

If an insured key employee were to die, key person life insurance would provide a tax-free cash payment that your business could use as working capital and to help manage issues related to the person's death, including:

• Recruiting, hiring and training your employee's replacement, which can be both time-consuming and expensive
• Paying off debt and dealing with creditors that wish to expedite loan repayment
• Alleviating potential lenders' concerns about your company's financial health
• Reassuring customers, employees or investors that the business will continue operating

What's more, if you or your family rely on your business as a primary source of income, key person life insurance can help ensure that the business will continue to provide a secure financial future.

A range of life insurance solutions to meet your needs

RBC Insurance^® offers a range of term and permanent life insurance plans that are ideal for protecting your business against the loss of a key person. And while the premiums are not tax-deductible, the life insurance proceeds are tax-free. Even more importantly, the cost of this invaluable insurance protection is low when compared to the value of your key person.