Protect the Assets of Your Company With Life Insurance

Protect the Assets of Your Company With Life Insurance

key life insurance

The talent and knowledge of your key workers can be among the most valuable assets in your company. You insure your buildings and your fleet of vehicles, yet you may be failing to insure your most treasured asset. With key life insurance you are able to protect your company in the case of the deaths of any especially crucial employees.

While this practice may be a bit unfamiliar to many businesses it is fairly easy to implement. You simply buy a policy in the name of the key employee, pay the premium and name the company the beneficiary in the case of the employee’s death. The policy funds the replacement of lost profits or increased overhead, expenses to recruit and replace a new employee and compensation requirements of the employee’s spouse. The policy is an effective way to insure clients and other employees of the continued viability of your company.

Key life insurance can protect you company from the unexpected death of an individual who is irreplaceable in the short term. The amount of the policy will depend upon how much money is needed to replace the lost person and to take care of immediate needs. It will put your company on solid ground for the future and pave the way for its continued success.