Key Person (Key Men) Insurance
Employees Are Valuable Assets Too.
Key person insurance is needed if the sudden loss of a key executive would have a large negative effect on the company's operations. The payout provided from the death of the executive essentially buys the company time to find a new person or to implement other strategies to save the business.
In a small business, the key person is usually the owner, the founders or perhaps a key employee or two. The main qualifying point would be if the person's absence would sink the company. If this is the case, key person insurance is definitely worth considering.
Several business benefits are built into your Key Person Insurance policy with The CFI Agency, such as:
- Coverage That Acts As A Business Asset For Enhancing Your Company’s Creditworthiness
- Cash Value Of The Policy That May Be Available To Your Business As A Loan If Needed
- A Policy That Can Be Converted To A Retirement Bonus For The Key Employee
At The CFI Agency. our professional and knowledgeable insurance specialists are sensitive to your needs as a business owner and dedicated to providing all of your commercial insurance solutions. Talk to a representative today to learn more about what Key Person Life Insurance can do for your business.