With key person insurance you can prepare for the unexpected. Key person insurance helps insure the future of your organization in the event of the death or disability of a key person. It’s an insurance plan to help manage business overhead while your business navigates through difficult situations.
- Help replace lost profits and overhead
- Provide funds to recruit, hire and train a replacement
- Help assure customers, creditors and employees of business continuity
- May pay a non-taxable death benefit to the family of the key person