Key Person Insurance
Key Person Insurance protects the company in the event of the loss of a key individual and/or the business owner.
Key Person Insurance is designed to insure individuals within the company whose sudden death, disability or a critical diagnosis will greatly affect the business.
If you have an employee whose knowledge, expertise, contacts, talent or business acumen are vital to the continued success of the company, you can insure them for Key Person Insurance with the company as the beneficiary. The company can then use those funds to find, attract and recruit a replacement.