Disability Insurance Quotes
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Key Person Failure To Survive

key person life insuranceMost companies have a key person in their organization. If you have a contract with your key employee, key person life insurance will protect you against non-performance and financial loss should the insured die or disappear during the coverage period.

Key employees are valuable because of their expertise, contacts, influence or information.

What would happen to your business if one day that key person suddenly died or simply left with no further contact? What financial impact will you suffer if they do not perform on the written contract?

About These Plans

Key person life insurance, sometimes known as failure to survive plans, are typically 1-year term life contracts that are renewable on an annual basis. There are normally no medical exams which mean a fast underwriting timeline, usually in under 48 hours. Exclusions can be made for health issues or high-risk avocations.

These plans terminate immediately upon the ending of your key person contract.

NOTE: This plan is not available in the following States: AK,IA,KY,MS,MT,NE,NJ,NY,RI,SC,SD,TX

These policies are different from those that you would purchase on an employee.  Often, a key employee can be insured using traditional life insurance carriers and has a lot more options than someone who might only be contracted temporarily or who has other business interests outside of your own.  If you’re looking at situations where you’d like to protect against the loss of a key employee, then please contact us to look into purchasing traditional key person life insurance.

Business owners or business partners should also consider key person disability insurance. If you are a business owner, then a comprehensive review of your needs and goals is often necessary to verify that you’re insuring the most important risks in your business while not overpaying in premiums.

Contact us today for a confidential discussion and quote. You can simply fill out the quote form on the left or call us directly. Our toll-free number is 888-636-2310.