Key Person Insurance

Best for: Protecting yourself and your loved ones from the financial impact of accidents

Key Person Insurance — Protecting Your Business

Key person insurance helps businesses safeguard against financial losses if a critical individual — such as a founder, partner, or executive — experiences death, disability, or critical illness. It provides funds to stabilize operations, manage cash flow, and maintain business continuity during challenging transitions.

Types of Coverage

Coverage	Trigger	Benefit	Who Receives It
Life Insurance	Death	Tax-free lump sum	Business
Critical Illness	Diagnosis of serious illness	Tax-free lump sum	Business
Disability	Inability to work	Monthly income replacement	Business

Coverage

Trigger

Benefit

Who Receives It

Life Insurance

Death

Tax-free lump sum

Business

Critical Illness

Diagnosis of serious illness

Tax-free lump sum

Business

Disability

Inability to work

Monthly income replacement

Business

Why It Matters

Protects revenue, client relationships, and ongoing operations
Supports hiring, training, and transition costs
Maintains lender and investor confidence
Ensures business continuity when key personnel are impacted

How It Works

Identify critical individuals essential to the business.
Choose the type and amount of coverage.
Business pays premiums and is the beneficiary.
If a covered event occurs, benefits are paid to the business to offset losses.

Key person insurance is ideal for startups, professional corporations, partnerships, and businesses reliant on specialized skills or leadership — helping ensure the future of your business is secure.