Philadelphia, Pa. – February 9, 2011 – Jim Steiker, Chairman and CEO of SES Advisors, is quoted in Life Insurance Selling Magazine:
“It makes sense for an ESOP-owned company to have a combination of life and disability insurance on key ESOP participants that can address payment of significant account balances upon a participant’s death or disability,” Steiker explains. “Unlike traditional disability insurance, which focuses on replacing income for a disabled person, corporate-owned disability insurance addresses the corporate finance and repurchase obligation effect of the disability of a key selling shareholder or ESOP participant. Corporate-owned disability insurance spares the company the double whammy of losing the services of a key employee and needing to fund an accelerated payout of their ESOP stock.”
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