Secure business continuity for your employees, customers and partners.
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Replacing a key person can cost a business both time and money, and potentially result in losing valuable clients during a transition. Key person life insurance protects your business from the financial repercussions suffered from the sudden loss of an important team member, and ensures continuity.
Protect your business
A key person is someone your business employs and whose contributions are not easily replaced. In the event an insured key employee or business owner were to pass away or become disabled and unable to work, the benefits payable from a key person life insurance plan could help maintain business continuity and the financial health of your operations. It also reassures all those relying on your business – from employees and customers, to vendors, partners, and creditors – that your business will survive. Our commercial insurance experts help you assess your risk exposures and find the right insurance products.
See what other industries we’ve serviced and learn about the coverages chosen by companies like yours.
A key person is an employee or a business partner or owner whose skills and intellectual capital are extremely valuable to your business. If your business stands to suffer substantial financial losses due to this person’s death or inability to work due to a disability, you should consider them a key person. Our commercial insurance experts can help you to identify such persons, and evaluate the potential risk of losing them.
The coverage length depends on the policy chosen. A term life insurance policy tends to provide coverage for 10 or 20 years at a time, whereas a permanent policy could provide protection for the entire lifetime of the insured person.
IMG is an UAII Member Agency
