Key Man Life

Key person insurance is a particular type of life insurance policy taken out by a company on one of their employees, in which the company is the beneficiary in the case of that employee’s untimely demise. Key person insurance is a relatively new phenomenon, but has attracted much praise and is encouraged by many strategic advisors. Life insurance is basically a system by which a fixed amount of money is paid to a beneficiary in the event that the person being covered dies.