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Key Person Insurance Benefits

Business Planning | Preservation | Solutions

Key person insurance is a life insurance policy that a company purchases on the life of an owner, a top executive, or another individual considered critical to the business. The company is the beneficiary of the policy and pays the premiums. If the key person dies or becomes disabled, the company receives the insurance payout. 


This payout can help replace lost profits or cover expenses until the business can find a replacement for the key person³¹².


We are here to assist in your insurance and planning needs. Please reach out to us today. And, as our gift, you are welcome to download this informative FREE resource.  


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(1) Key Person Insurance: Definition, Cost, Types, and How It Works. https://www.investopedia.com/terms/k/keypersoninsurance.asp.

(2) Key Person Insurance - Overview, How It Works, Example. https://corporatefinanceinstitute.com/resources/management/key-person-insurance/.

(3) Key Person Insurance: Cost, Definition, Providers - NerdWallet. https://www.nerdwallet.com/article/small-business/key-person-insurance.

(4) The Best Key Person Insurance for 2023 - Investopedia. https://www.investopedia.com/best-key-person-insurance-5116620.

Key Person Insurance Benefits
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