Category: Key Person Insurance

Why a Growing Business Needs to Look Into Key Person Insurance

In a small, thriving business, the death of a key employee could cause the business to collapse. It could be an owner, a founder, a key salesperson, or another important player in a growing concern. Life is full of uncertainties. Key person insurance helps protect your business should the unexpected happen. How Key Person Insurance Works Key person insurance is life insurance on a key...

The Importance of Key Person Insurance for Small to Midsize Businesses

Key person insurance is life insurance on a proprietor, partner, or a valued employee who is key to the successful operation of a business. Small and midsize businesses typically have one or a few key persons who are primarily responsible for generating revenue. Examples include the partners in a two-attorney law firm, the sole cosmetologist in a small beauty salon, or the owner-founder chef of...

The Importance of Key Person Insurance for Your Startup

If you are the founder of a startup, chances are that you and your co-founders live and breathe the business, and without you, the enterprise would not exist. That is why key person insurance is essential for your startup. What Is Key Person Insurance? Think of it as life insurance for your company. While a regular life insurance policy is designed to compensate the spouse...

5 Ways Key Person Insurance Can Save Your Business

For small businesses that rely on two or three core members to operate, the death of one person could easily mean the demise of the company. Key person insurance is a life insurance policy paid for by the company, for which the company itself is the beneficiary, and can be a deciding factor in determining whether or a business can survive the death of a...

Do You Need Key Person Insurance for Your Small Business?

Many small business owners – even those just getting a new enterprise off the ground – should consider putting key person insurance in place. Why? This form of insurance protects against the losses that occur when a crucial person on your team suddenly died or became incapacitated. The death of a key person in a company often means the company folds. With key person insurance,...