Key Person Insurance
« Back to Business Continuation | Buy-Sell Strategies | Family Succession Plans
What affect would the death of a key person within a company have on a business?
The company may suffer a loss if that key individual was a partner instrumental in running the organization or
an employee whose skill and vision made a significant contribution to the success of the business.
Key Person Insurance can help to protect a business against the financial loss of a valued employee.
Through Key Person Insurance the business takes out a life insurance policy on a key employee.
The business pays the premiums on the policy and is the policy’s beneficiary. If the key employee dies,
the money from the insurance policy may help the business stay on track until that key person’s expertise is replaced.
Our financial services professionals can help you decide how a business could benefit with Key Person Insurance.
Neither MassMutual nor any of its employees or agents are authorized to give legal or tax advice. Consult your own personal attorney legal or tax counsel for advice on specific legal and tax matters.
|
