Key Employee Insurance
Key Employee Life1. Protects the business owner when an
individual or a small group of people is essential for the business’ continued operation. 2. Employer buys life insurance on the life of the key employee, usually equal to one to two years’ salary. 3. Employer is the beneficiary and owner of the policy, and if the key employee dies, the business can use the death proceeds to hunt for and hire someone to take the place of the deceased key employee |