Key Man Life Insurance: Why Your Small Business Needs It

Sourced from

Key man life insurance is, to put it simply, life insurance that’s placed on a key person by a business. It protects the business from financial loss in case of the death of the key person.

The main difference between a traditional life insurance policy and a key man life insurance policy is that in a key man insurance policy the business is the owner, payer, and beneficiary of the plan.


Do You Need Key Man Life Insurance?

When you start a small business or are self-employed, you are the key man—even if you’re a woman.

You may have investors such as family and friends who would be financially affected if you were to die before they saw a return on their investment.

That’s because when you start a small business, you wear all of the hats. You’re the:

Vice President

In short, for anything your business requires, you are the person in charge. And if you die … Read More

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.