Key Person Life Insurance

Key person insurance is a type of life insurance designed to protect a business from the financial impact of losing a crucial employee, such as a top executive or a key specialist. The policy provides a financial cushion by paying out a death benefit to the business if the key person passes away or becomes disabled, helping cover lost revenue, recruitment costs, and other expenses related to their absence. This coverage is essential for maintaining business stability and ensuring that the company can continue operating smoothly during a challenging time.