Help your employees with today’s challenges: ACCESS LIFE FATIGUE TOOLKIT

If a Key Person Were to Die, Could We Still Protect Our Revenue Flow?

Employee Benefits, Financial Services

CLIENT:

Milwaukee area law firm

ISSUE:

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?

IMPACT:

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.

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