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What
is Key Man Insurance?
Key man insurance, a.k.a. key person insurance or key
employee insurance is coverage that will protect the
company or business
in the case of an untimely death or disability of a
top salesperson, executive or business owner. Key man
insurance provides peace
of mind to business owners and shareholders alike knowing
that the business can continue operations without major
disruption in the event of the loss of a key employee. Key person life insurance or key person disability insurance are must for smooth functioning of an organization. Learn
more about Keyman Insurance...
Keyman "AKA" Key Person Defined
Key employees are those people who are critical to the success
and profitability of the business. These individuals may
be business owners, partners or executives that have a direct
impact on company earnings or whose skills, talents and expertise
are crucial to the continued growth of the organization. Learn
more about what defines a key person...
Who Needs Key Man (Key Person) Insurance?
Key person insurance is needed by a wide range of companies
and for many reasons but generally is most important for
small and medium size businesses. These companies depend
on the expertise and talents of a small number of individuals
for their success. The death or disability of one of these
key employees or executives may well result in the demise
of the firm. Learn
more about why keyman insurance is necessary...
Why Buy Key Person Life & Disability Insurance?
Business Owners and corporations buy key man insurance to
protect their company from the potential issues that may
arise from the death or disability of a key person. Building
a successful business takes many years and considerable effort
and to lose years of hard work and substantial investment
for failing to plan is not a sound business practice. Learn
more about why key man insurance is important...
How Much Key Person Life Insurance Is Needed? - Valuing Key
Employees
In many cases it is hard to put an exact monetary value
on how important a key person is to a given business. Most
of the requests we receive are based on the amount of funds
being borrowed by the company via loan or some other arbitrary
amount that was determined by an investor. This may not be the best way to determine you need for key person life insurance. Learn
more about how much key person insurance is needed...
Protecting Your Key Employees
As a business owner, chief financial officer or board member,
you have a responsibility to your company to make sure that
business risk is minimized. Key employee insurance is a cost
effective way to eliminate the unnecessary business risk
associated with the disability or death of a critical contributor
to your organization. But what if a key employee decides
to leave your company to start their own business or even
worse takes a position with a major competitor? Learn
more about protecting your key employee...
Keyman Insurance Categories
Businesses desiring to minimize risk and prevent the potentially
devastating effects of the death or disability of a top employee
or executive should own key man insurance. Other reasons
businesses should consider key person insurance include succession
planning
for business owners as well as benefit planning for key employees. Major Insurance categories are key person life insurance, disability insurance & business continuation. Learn
more about types of key man insurance...
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