Key Person Life Insurance

Key Person Life Insurance is a life insurance policy owned by the business on the life of a critical employee or leader. If the insured individual passes away, the business receives the death benefit, which can be used to help:

• Offset lost revenue

• Recruit and train a replacement

• Cover outstanding business obligations

• Maintain cash flow during transition

Coverage is subject to policy terms, conditions, and underwriting approval.

A key person is anyone whose absence would significantly affect the business, such as:

• Business owners or partners

• Executives and senior leaders

• Top sales producers

• Individuals with specialized skills or knowledge

• Employees with strong client or vendor relationships

If replacing someone would be difficult or costly, they may be considered a key person.