Recently a small business owner contacted his agent to discuss his financial planning. Recent events have led the client to think about retirement, as well as making sure that if something should happen to him, his family can get full-value for his business and be financially secure.
The agent reached out to the Advanced Markets team to discuss potential solutions. Based on the case details, the Advanced Markets Consultant (AMC) recommended a “personal key person” plan that can help protect the family if something happens to the small business owner, provide a supplemental retirement income if he lives beyond his current retirement assets, and serve as a source of funds should he experience unexpected expenses in retirement — especially if those expenses happen during another period of extreme market volatility.