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Key Person

Help your clients recover from the unexpected loss of top talent.

Oftentimes, the most valuable assets of any business are the key people who contribute most to its success. If their loss would create a financial burden that puts the business at risk, a key person insurance policy is a simple and efficient solution. With key person insurance, your business is the owner and beneficiary of a life insurance policy for each key employee chosen, which can include business owners. If the unexpected happens, the business receives funds, generally income tax free*, to help overcome the financial challenge of the loss.

Use the key person calculator to help determine how much life insurance coverage business owners and/or key employees may need and the approximate cost. For greater risk protection, get a quote for a Key Person Replacement disability insurance policy, too.

* If the requirements of the Internal Revenue Code Section 101(j) are not met, death proceeds from employer-owned life insurance contracts may be taxable as ordinary income in excess of cost basis.


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