What Is Key Person Life Insurance?

A Key person life insurance policy covers employees who provide a large contribution to the income that a company generates, for example, top salesmen, designers, engineers, and top managers, or other key employees.

This type of worker can be very hard to replace, and the time it takes to replace a key employee can result in financial losses to the company.

That’s why key person life insurance can help alleviate those potential losses and give the company some money to help them recruit a replacement to take the place of the key employee who is no longer with the company.

Learn more about key person life insurance coverage.