Protecting Against an Irreplaceable Loss
Every business depends on certain people—the founder, a top salesperson, a technical lead. Key person insurance provides your business with a financial cushion if one of those essential individuals passes away or becomes permanently disabled.
How It Works
Your business purchases and owns a life insurance policy on the key individual. If that person dies, the business receives the death benefit. The funds can be used for anything: recruiting a replacement, covering lost revenue, paying off debts, or reassuring stakeholders.
Common Uses
- Replacing lost revenue tied to a specific person’s relationships or expertise
- Funding the search and training of a successor
- Paying off business loans that may be called due
- Funding buy-sell agreements between business partners
Straightforward Setup
We’ll help you determine the right coverage amount based on your business’s financial exposure and find a competitively priced policy.