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Key person insurance

Does Your Business Depend on a Key Employee?

Protect Your Company with Key Person Insurance

If your business relies on one or more individuals whose skills, knowledge, or relationships are critical to your success, the sudden loss or disability of that person could be devastating. Key Person Insurance helps your business absorb the financial impact and maintain continuity during challenging times.

Benefits of Key Person Insurance

When an essential employee or business owner passes away or becomes disabled, a Key Person Insurance policy can provide financial stability and peace of mind. The insurance benefits can be used to:
  • Recruit & Replace: Hire and train a qualified replacement without financial strain.
  • Manage Debts & Credit: Pay off business debts and maintain good standing with creditors.
  • Maintain Financial Credibility: Reassure lenders and investors about your company’s continued strength.
  • Ensure Business Continuity: Boost confidence among clients, employees, and partners that your business will continue to thrive.
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Is Key Person Insurance Right for You?

This protection is ideal if your business depends on someone whose unique contributions would be hard to replace, such as a founder, top salesperson, lead developer, or specialist.

Key Person Insurance Plan Overview

Key Person Life Insurance

  • Offers a variety of coverage options
  • Choose between term life and permanent life insurance
  • Tax-free death benefit to your business

Key Person Disability Insurance

  • Coverage available for individuals aged 18 to 55
  • Policy can continue until age 62 or until the employee leaves the company
  • Monthly benefits range from $2,500 to $15,000 for up to 12 months
  • Benefit payments begin after 60 or 90 days of total disability

Specialized Estate Planning Services

  • Business Succession Planning:: Ensure a smooth transition of ownership and leadership.
  • Tax-Efficient Wealth Strategies: Plan smartly for real estate, investments, and stock options.
  • Family Cottage Planning:: Preserve cherished properties for future generations.
  • Charitable Giving Strategies: Leave a lasting impact through tax-effective philanthropic planning.
  • Cross-Border Planning: Manage tax and legal implications of assets in multiple countries.

Key Person Insurance FAQS

Anyone whose skills, relationships, or leadership are vital to your business operations, such as owners, executives, lead technicians, or rainmakers.
It provides financial protection and business continuity in the event of a critical loss, helping to prevent disruption or collapse.
Life insurance policies can be tailored as term or permanent coverage based on your business’s needs.
Benefits are typically payable for up to 12 months, with a waiting period of 60 or 90 days after the onset of total disability.
Total disability usually refers to a condition that prevents the insured from performing the substantial duties of their occupation, as defined in the policy.
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