Business and Corporate Life Insurance
Various forms of life insurance, including but not limited to no medical life insurance can serve as a means of indemnification or protection against loss through death of employees and other valuable officials within a business. In other words, corporate and business life insurance are becoming popular concepts as more and more high profile companies accept the effectiveness of no medical exam term life insurance and other forms of life insurance as a valuable form of asset protection.
There are many businesses that rely heavily upon their top officials, including managers, CEOs and other individuals who are at the top of the company and who much of the company’s success can be attributed to. These key members of the company’s staff can be considered to be truly vital to the operations of the company, and without them, the company may falter or fail all together. This is especially true, of course, for businesses that are individually owned and operated by the key staff member in question. Business and corporate insurance policies are gaining rapidly in population as more companies realize how truly vital it is that they protect their greatest assets: Their people. Successful businesses require heavily upon the personal equation in order to see success.
Corporations and firms, then, will be interested in protecting their most important officers using the protection afforded by business and corporate insurance plans. For example, manufacturing and mining enterprises could be dependent upon someone with the engineering or chemical knowledge to run the business successfully. A publishing house may have engaged the author of a proposed work that they want to protect while that work is being written. A large retail business may have a sales manager that has made him or her self completely indispensable through organization and ability. Each of these key personnel members is so absolutely vital to the company that the company is obligated to insure them in order to assure the success of the company even beyond their death.
Some officers, while not even actively engaged in the daily operations of a business, may still prove to be wholly indispensable simply because they are a principal owner, or because their experience and business connections within the industry have made him or her a principal owner and chief advisor within the company. Human life can easily be considered to be a most vital and indispensable asset to the successful operation of a business. Now why would a business not want to insure one of it’s most important assets, especially when it could so easily be done?
The extinction of a valuable life such as these can prove to be an even more significantly serious loss than a loss by fire, or by any of the other ways that a business can lose that insurance would traditionally be acquired to protect. Because the death of a human asset such as this can lead to the loss of other assets, in lost sales, lost trade secrets or vital information, protecting this human life is just as absolutely vital as protecting any other asset that the company may hold. Acquiring the proper business or corporate life insurance is the best way to create this protection – And one such option is no medical life insurance, which allows human assets to be insured in business settings without requiring that they obtain medical clearance beforehand.