Also known as Key Person Insurance or Key Employee Insurance, it is an insurance cover that protects a company in cases of an untimely death or disability of a top salesperson, executive or business owner. Keyman Insurance provides peace of mind to business owners and shareholders as it assures the continuation of business operations without disruptions in the event of the death of a key employee. When death or disability strikes the company, Key Person Insurance becomes the difference between the company’s demise and its ultimate success. Key Person Insurance provides the financial means to stabilize a company during the adjustment period after the loss of a key employee or executive. When a death or disability occurs, the business may lose critical management skills and may experience periods of falling sales and productivity. Additionally, significant costs will be incurred identifying and training the person or persons that have the ability to take the place of the key employee. When the business is dramatically impacted by the loss of one or more of its personnel, Keyman Insurance effectively protects the company against this risk.

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