While difficult to think about, the untimely death of a founder, a partner, a top manager, or even a well-connected sales representative can have a devastating impact on your business continuity.
With key person insurance, you protect your company’s ability to continue running after the loss of a key individual. Your company takes out a life insurance policy on its most valuable people, and is also the beneficiary to the plan. Insurance payments then allow you to cover the costs of recruiting a replacement, as well as other losses the business suffers.
Consult with an independent National Penn Insurance agent to measure your risks and find out what kind of coverage will best suit your needs.