CEOWORLD magazine - Latest - C-Suite Agenda - Why You Need More Insurance as A CEO

C-Suite Agenda

Why You Need More Insurance as A CEO

A CEO is the corner-stone of any enterprise or company. If anything happens to the CEO, the whole enterprise suffers consequences. A good leader is the greatest asset of a business, and in this era where everyone is in the race towards excellence, we need good CEOs more than ever. Heart-centered leaders always do what’s best for their staff, partners, and clients. Every leader knows that if he can make an impact in the world, he will complete his lifelong dream. Whether they show it or not, leaders are more prone to stress, and this will not only affect their workplace but also their personal commitments.

Life Insurance For A  CEO 

 Life insurance protection for a CEO should be considered the foremost priority of any business. Whether you are the CEO, President, CFO, CTO, or a major shareholder of a company, your death can cause a lot of chaos and financial loss. Insurance for key people in a company ensures that the company will be able to cope up with the loss of that person, and give it enough time to replace them with someone so that the business doesn’t suffer.

Death of a person is a very sad thing, but your customers and clients assume stability even in these cases. Also, they expect and deserve that position to be filled with someone who is as competent as his predecessor. Life is unpredictable, and there have been so many cases where the death of a CEO has resulted in the downfall of a company. Sometimes it’s not a full-blown disaster like a head-on collision, but your business can also be at stake due to your company’s front man acquiring a serious disease that might affect his efficiency. Having a business life insurance plan is the safest way to guarantee a seamless transition of executive positions.

A CEO Needs to Protect His Wealth and Assets

On top of protecting the business from any loss, a CEO should get insurance for himself to protect his wealth and his future. As a successful CEO, chances are that you have a steady income, a nice home, a nice car, and other valuable things. Any person who is worth that much money should have adequate liability insurance to protect himself in case anything goes wrong.

The fact that you are a high-income business executive working for a successful company makes you the perfect target for litigation and acquisitions. Anyone looking to earn some easy money would sue you for the smallest problem. This could cost you a considerable amount of money.

CEOs Are the Favorite Target For Frivolous Litigations

In today’s world, million-dollar injury and wrongful death lawsuits are becoming more and more common. If someone gets injured or killed and you are somehow found liable, you will most likely be sued for millions of dollars. In business, you have to deal with a lot of people who might hold a personal grudge against you. They come after you like vultures whenever they see an opening, so you really need to be heavily covered. You should always make sure to cover everything you own so that in the case of any catastrophic claim, you will be able to keep your assets.

CEOs Need Someone to Intercede On Their Behalf

A high-ranking officer doesn’t usually own property in one place but around the world. He can’t be worried about his personal life while running a business. Having a team of professionals at his side who can intercede on his behalf to handle matters for him is a blessing. It is very difficult to juggle your personal and professional life at the same time, without help.

Have you read?

# Countries With The Highest Average Life Expectancies In 2030.
# The World’s Best Performing Companies 2019.
# The World’s Safest Cities Ranking, 2019.
# World’s Most Luxurious Hotels, 2019.

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CEOWORLD magazine - Latest - C-Suite Agenda - Why You Need More Insurance as A CEO
Mindy Wright

Mindy Wright

Deputy Commissioning Editor
Mindy Wright is CEOWORLD magazine's Deputy Commissioning Editor, and leads global newsroom coverage and management. She oversees and coordinates coverage of the news and ideas in partnership with writers across the continent. She has reported from more than 15 countries across Asia, Europe, Africa and the Americas. She has advised CEOs, investors, boards, and high-profile industry leaders on a wide range of issues impacting the global business landscape. She can be reached on email You can follow her on Twitter at @ceoworld.