Prepare for the unexpected loss of a key person’s value.
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
Insurance products are offered through the issuing insurance company, not through Comerica Bank or any of its affiliates or subsidiaries. Insurance products are not insured by the FDIC or any government agency; are not deposits or other obligations of, or guaranteed by, Comerica Bank or any of its affiliates; and are subject to investment risks, including possible loss of the principal invested. Insurance products are solely the obligation of the issuing insurance company; are not guaranteed by any person soliciting the purchase of or selling the policies; may lose value; and Comerica Bank is not obligated to provide benefits under the insurance contract. Not all products are available in all states.
Comerica Bank and its affiliates do not provide tax or legal advice. Please consult with your tax and legal advisors regarding your specific situation.