Life Insurance for Key Persons

Do you have a key person who is critical to your business’s success?
Does your business have a key employee whose lost skill, talent, knowledge and
expertise could result in serious financial consequences for the organization?
Would the loss of a key employee:
• Reduce your sales or business earnings?
• Create a loss of a specialized skill?
• Disrupt the everyday operation of your business?
• Create concern among customers about the loss of expertise?
• Negatively impact a special project such as an expansion program or sales campaign?
• Jeopardize business credit and financial security?

If your business is like most, there are one or more key employees who are critical to the overall success and
profitability of your business. You should consider Key Person Insurance for these critical employees.
Why is Key Person Insurance important?
Key Person Insurance protects a business in the event the key employee dies. It can provide money to help:
• Offset interrupted or lost cash flow from reduced sales or company earnings.
• Hire a temporary substitute.
• Offset the expense of attracting and hiring a qualified replacement.
• Compensate for any losses due to financial instability and negatively impacted credit.
How does it work?
Key Person Insurance is one of the easiest business continuation planning strategies to implement.
The business simply purchases life insurance on the life of the key employee.
• The employer applies for, owns and is the beneficiary of the life insurance policy.
• If the key employee dies, the policy proceeds are paid to the employer to use as he or she wishes.

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