The Key to Unlocking Key Person Buy-Sell Coverage
Underwriting key person and buy-sell applications is often challenging and time consuming, not only for the underwriter but for the agent as well. This article will provide the reader the awareness of the basic fundamentals which can mitigate challenges when it comes to underwriting these types of cases. As Michael Jordan once said, “The minute you get away from fundamentals–whether it is proper technique, work ethic or mental preparation–the bottom can fall out of your game, your schoolwork, your job, whatever you’re doing.” Fundamentals are the launching pad to success in all areas of life, and insurance is no exception. In insurance underwriting, key person and buy-sell cases are known to be challenging, but once you grasp the basic fundamentals, underwriting these types of cases will be more manageable.