Protect your business against the loss of yourself or a key employee
You can't prevent the sudden loss of a key contributor to your business, but you can minimize the impact felt by disability or death—with key person insurance.
Key person life and key person disability insurance pays benefits directly to your business at a time when it's needed the most. Businesses frequently use the proceeds to hire and train a replacement and to cover potentially increased costs and loss of cash flow.
Key person insurance may also be used as an incentive to proactively recruit and retain valued employees. Under certain circumstances, employers may offer the cash value of a life insurance policy to a key employee in return for a commitment to stay with the company for a designated period of time.