Loss is always difficult, and unexpected loss is even more so. When sudden death occurs in a corporate environment, it’s both a personal and professional hit. As you grieve the passing of a company leader, you will also be faced with the pressure of finding a replacement. Time is money, and the time spent looking for the right person will only add to the stress if you don’t have a plan in place.
Insurance for Key Personnel
Key-person life insurance is the plan you need. Such a policy covers a key staff member of a company and pays out if they were to pass away. Any employee whose death could threaten the existence of your company is an employee who should be covered. Some key staff members may include:
- CEO or CFO
- Owner of company
- Key management
Eliminate the Uncertainty
Nobody wants to plan for tragedy, but planning can help prevent further tragedy. Key-person life insurance gives you the stability your company needs by providing time to find a replacement for a key figure. Compare policies from life insurance agencies to discover the one best suited to your company’s unique needs and ensure that you have the coverage you need to continue operations even when the unexpected happens.