Key Man, aka Key Person insurance is an important form of business insurance. Especially in today’s volatile times of uncertainty, key man insurance is used to protect a company against the loss of a key person and/or to help retain that key employee.
Your company or organization surely carries insurance coverage to protect your business from the loss of buildings and equipment,
but what about your most valuable asset—your key employees?
A key employee may be a partner, CEO, a top executive, or an important member of your organization with unique talents, experience or skills.
These individuals are crucial to the prosperity of your business and in the event of their death it could cause your organization a business disruption, loss of profits, and the financial burden of recruiting and training a suitable replacement.
Help protect against this risk with key person insurance. It’s the financial protection you need to help maintain business continuity and solvency in the event of a key employee’s death.