Key Man Insurance
Key Man Insurance: Protect Your Business from the Unexpected
What Is Key Man Insurance?
Key Man Insurance is a life or disability insurance policy taken out by a business on a vital team member. The business pays the premiums and becomes the policy’s beneficiary.
If the insured person dies or becomes disabled, the benefit provides immediate financial relief.
Why Businesses Need Key Man Insurance
- Protect cash flow and operations during transition
- Cover hiring and training costs for a replacement
- Provide stability for lenders, investors, and partners
- Secure business loans that require insurance
- Prevent loss of revenue tied to the key individual
- Give owners peace of mind knowing the company is protected
Who Should Be Covered?
Key Man Insurance is ideal for:
- Business owners and founders
- Top salespeople
- Lead project managers
- Specialists with unique skills
- Anyone whose loss would impact revenue or operations
How It Works
- Your business purchases the policy.
- You choose the coverage amount.
- The business pays the premiums.
- If the insured person passes away or becomes disabled, the business receives the payout.
- Funds can be used however the company needs (expenses, debt, payroll, etc.).
Get Customized Protection for Your Business
Every business is different. We’ll help you choose the right coverage, benefit amount, and structure to keep your company running strong.
📞 Contact Ted Daigle IFS today