Key person insurance is designed to protect your business in the event that a key member of your team passes away or becomes disabled. If this were to happen, your bottom line may suffer in the short term, or possibly over the long term if you have to find a replacement.

Key person insurance pays a tax-free benefit that could allow you to:

• Recruit, hire and train a replacement

• Pay off debts

• Distribute money to investors

• Ease the fear of creditors

• Reassure clients, employees and investors that the business will continue operating