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• It protects the financial success and stability of the company when they are closely tied to the key employee and their skills.
• It protects shareholder interests and allows remaining partners to buy out the interests of the deceased.
• It offers a way to place a lien on a key person when a creditor needs collateral for a business loan.
• It protects your company's profits if the death of a key employee results in lost sales, project delays, and cancellations.

The cost varies depending on the size of the policy, the type of business you do, the size of the business, and the role of the key employee. Additionally, the price of the policy will be affected by the age and health of the key person being insured, much like other life insurance policies. We can offer you multiple options and recommend the best policy to fit your business needs.

Our advisors will meet with you to discuss your business, the type of business you operate, the size of your business, and your goal in purchasing key person insurance. Using this information, our financial advisors can then make recommendations on the amount of coverage to purchase. This is not a one size fits all answer so it is important to discuss with an advisor to get the best plan to fit your business goals.

The typical key person policy is set up so the company is both owner and beneficiary.