Key Man Insurance
Key Man Insurance
Key Man insurance is also known as Key Employee or Key Person insurance. Key Man insurance is generally described as an insurance policy designed to compensate a business for financial
losses that would result from the death or extended incapacity of the
member of the business (i.e. the "Key Man"). Typical Key Man insurance policies are life and/or disability policies.
Key Man insurance is most often used in small–to–medium–sized businesses where the death of a key employee could severely affect the stability or profitability of the company.
It can often be hard or impossible to replace a critical employee's:
- Knowledge
- Skills
- Contacts
- Business Relationships
If the death or extended incapacity of you or any employee(s) could cripple your company, then a Key Man insurance policy is something you should seriously consider.
A Key Man insurance policy will give your company the time it needs to survive an unfortunate event involving a key man.
For more information please contact one of our team members by clicking here.
