Are you a business owner who would suffer financial loss from the death or extended incapacity of an important member of your business? Have you planned for business succession or business protection?
Key person insurance, also commonly called key man insurance, is an important form of business insurance. Life insurance can provide the important protection you need against the financial losses of the death of a key person in your business. The policy can be structured to fit the unique needs of your business. The insurance policy is usually owned by the business and the purpose is to compensate the business for losses incurred with the loss of a key income generator so that your business may continue without major interruptions.
Many businesses have a key person who is responsible for the majority of profits, or has a unique and hard to replace skill set that is vital to the organization. An employer may take out a key person insurance policy on the life of any employee whose knowledge, work or overall contribution is considered uniquely valuable to the company.
There are many different insurance policies that can meet the needs of protecting your key employees.
For more information about life insurance for key persons in your business, fill out the form or call today to get your free quote!
By submitting a quote request you acknowledge and agree that this is neither an offer to insure nor a guarantee of insurance. All benefits are not available in all states. All coverage information provided by Independent Life & Disability agents representing multiple A.M. Best “A” rated carriers offering specialized Mortgage Protection Products. Not affiliated with, authorized by or endorsed by any lending institution. No insurance coverage shall be construed as bound, in force, applied for or assumed as a result of submission of information.
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