Protecting your company
Key Person Insurance
Key person insurance is essentially a life assurance policy taken out on key individuals within a business. The death of one of these key employees would have a huge impact within the company and could be very disastrous in severe cases. This policy will put a monetary value on certain key individuals so if the worse were to happen the company could still carry on operating.
In a small business, the key person is usually the owner, the founders or perhaps a key employee or two.