ENSURE YOUR BUSINESSSURVIVES THE LOSS OF A KEY EMPLOYEE
Unfortunately, the death of a single vital executive or a few key employees can bring about the death of an entire company. With key person life insurance, your business will receive funds to survive and reestablish itself after such a loss.
Protect Against the Loss of a Key Individual
Top salespeople and executives, intellectual property owners, and other income generators are crucial to the success of your business. Make sure your business is insured against the financial consequences of their death or inability to work.
Pay Creditors and Employees
Paying business payroll and bills is imperative to your company’s survival. With key person life insurance, you don’t need to wonder where you’ll get the funds to cover these basics after the loss of your most important employee.
Replace Lost Income as You Regroup
If your business loses a vital employee, you’ll need time to formulate a plan to replace that lost income. Key person life insurance provides funds to replace the lost income as your business reestablishes itself.
Locate and Recruit Replacements
Finding and recruiting high-caliber vital employees is a time-consuming and expensive process. Key person life insurance helps cover the costs involved in replacing your key executives.