{"id":416,"date":"2019-07-03T12:02:59","date_gmt":"2019-07-03T12:02:59","guid":{"rendered":"http:\/\/www.unitedfinances.com\/blog\/?p=416"},"modified":"2019-07-03T12:02:59","modified_gmt":"2019-07-03T12:02:59","slug":"what-is-key-person-life-insurance-policy","status":"publish","type":"post","link":"https:\/\/www.unitedfinances.com\/blog\/what-is-key-person-life-insurance-policy\/","title":{"rendered":"What is Key Person Life Insurance Policy?"},"content":{"rendered":"

Our insurance company will help you through the process of setting up your business with the best policy in the market. With each client that our office works with, there is always something specific that will meet their needs that is tailored for them.<\/span><\/p>\n

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Key Person Life Term Insurance Policy<\/span> and key person disability insurance are the two different policies that most people do not know about. <\/span><\/p>\n

This is a life insurance policy that is taken by the business as the owner of the policy. This means that the insurer covers a person or persons within the business. <\/span><\/p>\n

This policy often happens when the business identifies key men or women then life insurance is bought for those key employees.<\/span><\/p>\n

How to identify key employees<\/b><\/span><\/p>\n

When identifying the key employees, the following are some of the points that you may want to consider:-<\/span><\/p>\n

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  1. Business continuity<\/span><\/li>\n
  2. Impossible to replace<\/span><\/li>\n
  3. Bank loan<\/span><\/li>\n
  4. Business continuity<\/span><\/li>\n<\/ol>\n

    Key employee insurance should be used for any person in the business whose death is most likely threaten the community or the survival of the business. Key Person Term Life Insurance Policy<\/span><\/a> gives creditors some peace of mind for they know that if they die, the business will not die. <\/span><\/p>\n