KEY MAN INSURANCE

The loss of any person in an organization is devastating. The loss of a person who is critical to the company’s operations, sales or decision-making can instantly multiply the impact of that loss. What would your organization do if something happened to your CFO? Or how about that long-term colleague who is the backbone of your company? Have you ever thought about how your company would function without them? Regardless of the size of the business or organization, there is always at least one person that is critical to the firm’s success.

Facing mortality is uncomfortable for most people and planning ahead for an unforeseen loss is a difficult subject, but for those responsible for the longevity of a company, it is an important coverage to consider.

Key Person Insurance protects a business by addressing the financial impact of losing a key person in the company. With the coverage in place, a claim would provide funds to:

• Offset interrupted or lost cash flow from reduced sales or company earnings
• Hire a temporary substitute
• Offset the expense of attracting and hiring a qualified replacement