Protect Your Business and it’s Key People 

Key person insurance protects you, your business and your key people by ensuring your organization continues to operate, while a key employee is unable to work.  This may include owners and other top performing personnel whose absence would greatly hurt a company, or even worse, put them out of business. 

Additionally, because typical group insurance only covers a fraction of a key executive’s high income, a key person life or disability policy will adequately protect your key people and their families from loss, should they become ill or suddenly pass away.

Types of Key Person Plans

When you purchase Key Person Life Insurance, your business is typically responsible for the premiums, as it is also the beneficiary. The value of your business (as established through financial records) will help to determine the benefit level and premium amounts.

A Business Overhead Disability policy prevents a business from going under while the business owner or top manager is unable to work and run the business when they become disabled. These types of policies will typically pay for things like employee salaries, rent and utilities, among other expenses.

Continuation Agreements are also known as Buy-Sell Agreements and are tied to life insurance policies that set terms for the transfer of a business upon a certain triggering event, usually death, disability and retirement of a key partner or owner.

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