If a Key Person Were to Die, Could We Still Protect Our Revenue Flow?
Milwaukee area law firm
A revenue analysis of a Milwaukee area law firm revealed an important fact: five of its attorneys were generating a majority of the firm’s income. Put another way, losing just one of them could cost the firm about $1 million in annual revenue – an amount not easily gained back. What kind of strategy could insulate them from such a risk?
Protection gained through a key-person policy
The law firm worked with M3 to reach a solution: a key-person life insurance policy for $1 million on each of the five top performers. The policy protects income flow upon the death of a critical revenue generator. Such a cushion can help maintain stability and also provide the funds needed to recruit new talent if an unexpected loss should occur.
Investment advisory services offered through M3 Financial, a registered investment advisor and separate entity from M3 Insurance.