Key Person Insurance

Think of it as a "safety net" for your business if a superstar employee or director suddenly can't work anymore. If the company would struggle to make money or pay off debts without them, this insurance kicks in. It provides a cash payout directly to the business to help cover lost profits or the cost of finding and training a replacement.

 

How does it work?

The company pays for the policy and owns it. If the key person dies or gets a serious illness (depending on your specific plan), the insurance company pays the business.

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