Key Person Life Insurance is a policy that provides financial protection to a business in the event of the death or disability of a key employee whose expertise, leadership, or unique skill set is critical to the company’s success.
Let's say you have a business. If something were to happen to you, or your CEO, or even your best Fry Cook, how much would that hurt your business financially? Key persons insurance gives you the funds to hire a new person, gives you financial stability to stay afloat while recovering your loss, or even pay off debt that's tied to the lost person. The business will be the beneficiary and payor of the insurance policy on their valuable employee or owner.
Insurance depends on your age, health, and whether or not you smoke, among other things. It's tough to pinpoint how much you'd pay unless we know more about you and their value.
We might have to insure your key person for $50,000, we might have to insure your key person for $5,000,000. It all comes down to your company's value and valuation of the person.
Phone: 5153498667
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