Key Person Insurance
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Protect Your Business with Key Person Insurance

Replacing a key person takes time and money − and could cost the business valuable clients during the transition. Key person life insurance offers a death benefit that can help cover financial losses that occur at the death of a key person. This helps assure continuity of the business for employees, customers and creditors.

Taking out a key person policy on your top employees also affirms their value to your business, strengthening the relationship.

Other features of key person insurance

  • The death benefit can be used to recruit and develop a replacement for the previous key employee
  • Coverage is a business asset that enhances your company’s creditworthiness for commercial borrowing
  • The policy’s cash value may be available to your business through a withdrawal or loan if needed
  • The business pays the premiums, and they are non-deductible