Key Person Insurance: What Is It, and How Does It Work?
Fundera
JULY 24, 2019
In a key person insurance policy, the business is the owner and beneficiary of the policy, and the insured is the owner or executive who is central to the functioning of the business. . If a key individual of the business unexpectedly passes away or becomes disabled and can’t work, the cost to the business can be even higher.
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