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Key person insurance

Learn more about IWL and key person usage

Successful businesses have one thing in common: they often have one – or more – key people who are essential to operating the business.

Loss of these key people can have a devastating impact on the future of the company. Key person life insurance helps mitigate this risk and can provide liquidity when the business needs it most: upon death of a key person. And when Ohio National’s Prestige Indexed 10 Pay life insurance is used and withdrawals are properly structured, the business can access accumulated cash values in the policy to help with business needs or as a non-taxable capital source to take advantage of expansion opportunities.

Policy example: Insured is a male, age 45, super preferred health. The below illustration shows a $500,000 death benefit with a 5.6% interest crediting rate. It also shows ten years of policy cash withdrawals of $50,000 starting at age 65 as a fringe benefit “golden handcuff” program for the employee.

DOWNLOAD KEY PERSON FLYER
DOWNLOAD KEY PERSON CUSTOM IWL ILLUSTRATION
DOWNLOAD KEY PERSON NAIC IWL ILLUSTRATION
Indexed whole life insurance is issued by Ohio National Life Assurance Corporation. Indexed Whole Life Insurance is issued on policy form ICC22IWL-1 and any state variations. Optional Waiver of Premium Rider is issued on rider form 22-IWWP-1 and any state variations. Policy, policy features and rider availability vary by state. Guarantees are based on the claims-paying ability of the issuer. Dividends are not guaranteed. Products, product features, and rider availability vary by state. Product not available in CA. Issuer not licensed to conduct business in NY.

THIS MATERIAL IS FOR USE WITH THE GENERAL PUBLIC AND IS NOT INTENDED TO PROVIDE INVESTMENT, INSURANCE OR TAX ADVICE FOR ANY INDIVIDUAL.