Advisors Blog

Key-Person Life Insurance Solutions During COVID-19

Published on December 08, 2020



To our friends and partners,

First and foremost, we would like to extend our thoughts and support to everyone affected by the COVID-19 pandemic – not only those diagnosed with the virus, but those that have been impacted by the subsequent business closures and general service disruptions. During these uncertain times, we want you to know that we are still open and ready to assist you with all of your insurance needs.

Given the current market, many of our advisors have been asked by business clients about the availability of Key-Person coverage for executives and critically important contributors at their companies.

We continue to have access to the markets for all of your Key-Person needs. We are utilizing the carriers accelerated underwriting programs in order to access up to $5,000,000 of coverage without full medical underwriting or labs for a Preferred to Standard health risk. Financial Underwriting requirements remain the same with each respective carrier.

Indemnification from the loss of a Key-Person can be utilized for:

  • Family Needs
  • Estate Planning
  • Replacement of the Key Person
  • Fund Indemnification
  • Lender Indemnification

Our teams are closely monitoring the situation, and are staying in contact with carriers and service providers alike, ensuring that your cases are receiving the same attention they would under normal operation. The well-being of our clients is of utmost concern and we are committed to providing you with up-to-date information and support. To start the conversation, feel free to utilize our Key-Person Insurance Questionnaire

Give us a call to discuss various solutions and market conditions. Stay safe, and please contact us for any questions or concerns you may have.

Thank you!




We thank you again for your business. For more information or insurance quote requests, please contact your brokerage manager or give us a call at (800) 473-5966.

For agent use only - not for use with the general public.

Corporate CA License No. 0D87913


21820 Burbank Blvd., Suite 301

Woodland Hills, CA 91367

Phone: (800) 473-5966

GBS Insurance and Financial Services, Inc. do not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

© 2020 Arthur J. Gallagher & Co. 





Coverage Solutions for Smokers and Alternate Tobacco Users

Cigar and alternate-tobacco users are one of most penalized segments of the life insurance customers, in terms of higher premiums. At GBS Insurance, we have markets that are extremely flexible when it comes to underwriting those risk classifications, and can assist you in obtaining nonsmoker and, many times nonsmoker plus, rate classifications.


Symetra Discontinues Sales of GUL Products Effective 12/31

Due to the continued and prolonged low interest rate environment and competitive landscape, Symetra has decided to discontinue sales of their guaranteed universal life insurance products, which include their currently sold Symetra UL-G and the previously suspended Symetra Survivorship UL-G.


Get Started

Start Your GBS Online Account

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas mnt in culpa qui officia deserunt n culpa qui officia des mollfuga.

Stay Connected