As the founder or head of your company, you know preparing for the future is a complicated job. Along with identifying growth opportunities, finding efficiencies, and attracting and retaining talented employees, you must consider many “what ifs,” including how your business will respond to worst-case scenarios. Death of a key employee, natural disasters, and other unplanned events can disrupt a business overnight. It’s critical to anticipate risks and test strategies for mitigating them in order to avoid unnecessary business interruption. 

Before Winter & Associates President, Nicole Winter Tietel, took over the family business, her father was the third-generation owner. When he experienced serious health issues, creating a business continuation strategy helped ensure Winter & Associates would last. As the fourth-generation owner and an accomplished advisor, Nicole has witnessed, both personally and professionally, how a business continuation strategy is vital to a company’s success in the face of adversity. As your trustworthy financial advisor, Nicole will help you put flexible continuity plans in place to minimize disruption in the event that unforeseen circumstances significantly interrupt normal business. Contact us today to book a consultation!


A key employee is someone whose knowledge and skills contribute significantly to a company’s success. Businesses of all sizes can have key employees, but small businesses are especially vulnerable when key executives pass away. The key person might be the company owner or founder, and in some cases, the only person capable of running the business.

If the death of you or another key employee would have a substantial negative impact on your company’s operations, it’s time to consider key employee life insurance, also known as key person life insurance or business life insurance. Should the key employee die or become incapacitated, your business would receive funds to cushion some of the adverse financial impact.

  • This is a life insurance policy that a company purchases on a key executive's life. The employee must agree to your company’s purchase of this insurance.
  • In most cases, the company pays for the insurance and is the policy beneficiary. 
  • In a tragic event, key employee life insurance funds can be used for various expenses, such as recruiting and training a new employee, paying loans that become due upon the death of the key person, or covering losses that may occur as a result of trying to fill the role of a key employee.

For more information about key employee life insurance, please give us a call at 651-414-5000 or fill out the form on our contact page, and we’ll be in touch soon!


In a partnership, everyone must agree on “what’s next” after a partner dies, retires, or exits the business to ensure smooth transitions. When there are multiple owners of a business, consider whether all partners should enter into a buy-sell agreement that outlines how a partner's share of the business may be reassigned if they die or otherwise leave the company. 

  • Many times, buy-sell agreements are funded with life insurance. 
  • Some buy-sell agreements allow remaining partners to buy the interest of a deceased or selling partner. Other buy-sell agreements require the business entity to buy the interest.
  • Buy-sell agreements can help ensure business continuity and a buyer’s share of the business.
  • These agreements help companies avoid conflict of interest between surviving partners and the family of a deceased partner. 

The aftermath of a partner’s death or departure is difficult to navigate, especially when multiple owners have opinions about how the deceased’s share of the business should be distributed. Our financial professionals will help your team put into place a strategy that helps protect your business, as well as your personal and family interests. Book an appointment today!

Life insurance products contain fees, such as mortality and expense charges (which may increase over time) and may contain restrictions such as surrender periods.


If you’re temporarily disabled and can’t work, disability insurance functions like a paycheck to ensure you can pay your bills while you recover. But if you’re a business owner, you need additional funds to keep your company running while you’re out of work. Business overhead expense (BOE) insurance offers coverage for the costs of running your business when your absence, due to a disability, means those costs would go unpaid. It can be used to cover various day-to-day expenses like wages, debts, rent or mortgage, and taxes.

  • With BOE insurance, if you’re unable to work due to a qualifying temporary disability, the insurer will pay you monthly payments to cover your expenses so your business can continue to operate smoothly.

  • BOE insurance doesn’t cover your lost wages when you become disabled; you’ll need disability insurance for that. If you don’t meet the definition of disability, your claim may be rejected.
  • This type of insurance policy typically has a benefit period of either 18 or 24 months.


When you work with Winter & Associates, your business is in good hands. Let’s talk about business continuation strategies for your company! Contact us via phone or email to book an appointment.