What is key person life insurance and who do I buy it for?
Answers | 2
Key person Life Insurance is mainly use for a business. You buy this product to protect your business if your key person or primary employee (or owner) leave or some catastrophic life event happen to them. Most of business who just starting up are commonly buy this products. Again, Key person can be the owner(s) or employee of the business. Policy owner use the benefits they receive from the insurance company to replace the person how had lost. Sometime training or searching for this person can take a long time. Benefits are use in this way too.
You can buy this products in most known insurance company. But the most important thing is you consult your Trusted Financial Adviser to properly structure this kind of policy.