Key person coverage protects a business in the event that an important owner/employee of the business passes away. This allows the business to continue operating without the key person by inheriting a death benefit. These funds can also be used to help hire a replacement employee/owner and operate for a time without the key person’s production. Key Person Coverage is critical to any business that is dependent on the skills or expertise of a few talented people who may leave a financial hardship at their passing.
