Who Are Your Key Personnel?
Key Person life insurance protects a company from financial losses due to death or disability. This helps the company recover from the loss of the key employee. It’s very common for companies to have one, two, or even a few employees in which a large portion of the revenue depends on. When this happens, the consequences of an individual passing on must be considered. Key person insurance is designed to protect your business from just such an event.
Key person insurance is a type of life insurance policy taken out by a company to protect the company from financial losses in the event of the death or disability of a key employee. It is a form of business insurance that provides businesses with financial protection in the event of the death, illness, or disability of a key individual within the company. It is designed to provide a financial cushion to help the company recover from the loss of a key employee.
What Would Losing This Person Mean to Your Business?
The risk and the cost associated with Key Person Insurance coverage is low if the person is young and healthy. All things considered, think about what this type of loss would mean to your business. We are standing by to answer your questions about Key Person Insurance. Call us at 800-767-3161.