Houston's energy services, healthcare, and professional services firms are built on expertise and relationships. Losing a key person without a coverage plan can mean lenders calling loans, partnerships dissolving, and revenues collapsing overnight. Tower Hill has a plan for that.
Three reasons Houston business protection clients trust us with their families.
Oil & gas contracts, construction projects, and engineering services often revolve around one or two people. If a key person dies mid-contract, project revenue can vanish. A key person policy funds the transition.
Houston business partnerships are common — but a handshake buy-sell agreement is worthless at death without a funded policy to execute it. Tower Hill structures the policy to match your agreement's valuation.
Many Houston small businesses carry SBA loans that require life insurance assignment. A properly structured key person policy satisfies lender requirements while protecting the business at the same time.
Three tiers of coverage — choose what fits your Houston life and budget.
Key person insurance is a life insurance policy owned by the company on a critical employee or owner. The company pays the premium and receives the death benefit, which is used to cover revenue loss and fund replacement.
Common valuation methods include revenue multiple, asset value, and earnings multiple. Tower Hill advisors help you identify the right method for your industry — whether energy services, healthcare, or professional services.
Yes. Both entity-purchase structures (the LLC owns policies on each member) and cross-purchase structures (members own policies on each other) are available. Your attorney and Tower Hill advisor coordinate the design.
Business Overhead Expense disability insurance covers operating expenses when the owner is disabled. It's a separate product from key person life insurance, and Tower Hill can coordinate both into a comprehensive plan.
Death benefits from company-owned life insurance are generally income-tax-free under IRC §101(a). However, businesses must comply with COLI notice and consent requirements. Consult a CPA or attorney for your specific entity.
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