5 MINUTE READ
Small businesses often have at least one employee with a unique skillset, stellar reputation, loyal client base, or an all-star name, whose absence would devastate the company. If you have an owner, partner, executive, or other worker who is indispensable, you may want to consider key person life insurance to protect your business from the potential loss of this essential employee.
What is key person life insurance?
Key person life insurance is a type of life insurance that is purchased by a business on an essential employee, with the employee’s written consent. The business pays the premiums and then receives the death benefit if the key employee dies unexpectedly.