
1-877-529-6543


1-877-529-6543
KEY PERSON
Key Person Insurance is simply life insurance for any key person involved in your business. In a small business, this is often the owner, or perhaps an employee critical to the company's success. These are the individual who are crucial to the success of a business--the ones whose absence would sink the company. You definitely need to consider key person insurance on those people. They can be both a term plan for a specific period of time or a Life Insurance Retirement Option that can provide both benefits to the company and to the future of the employee.
Other Features of Key Person Insurance
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The death benefit can be used to recruit and develop a replacement for the previous key employee
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Coverage is a business asset that enhances your company’s creditworthiness for commercial borrowing
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The policy’s cash value (if any) may be available to your business through a withdrawal or loan if needed
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The business pays the premiums, and they may be tax-deductible as a business expense (always seek out the advice of your licensed tax professional for any tax questions in your state).