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Key Man Life Insurance

Protect the continuity of your business.

You might describe the skills and knowledge of the senior staff as priceless, but if anything happened to them, the financial losses for your business could be very real.

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Where ordinary life insurance compensates a person’s financial dependents for loss of income, key man life insurance is all about the costs a business faces when the person dies. It’s best suited for staff who are so vital to the company’s operations that it could struggle to survive without them.

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The payout from a key man life insurance policy will ideally help the company stay afloat while the other members of your staff come to grips with running the business, or until your business hires a suitable replacement and brings them up to speed.

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In the worst-case scenario, the payout could instead be used to wind down operations in a controlled manner rather than face the chaos and damage of a forced liquidation.

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In addition to paying out when a key staff member has passed away, some key man policies will also pay out if the person is diagnosed with a terminal illness or suffers a critical illness that means they can no longer work.

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Key man life insurance is a great way to protect your business. If you think this might be a good fit for your business, let us know. We can walk you through your options.

Coverage that provides a critical financial cushion to help stabilize your business after the loss of an essential employee.

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Contact us for a free insurance quote now.
 

UNION BAY RISK ADVISORS LLC
805 Estelle Drive, Suite 102
Lancaster, PA 17601
Monday - Friday: 9:00 am - 5:00 pm
Fax: (866) 517-1868
Email: info@unionbayrisk.com
For Brookside Insurance customers click below:
Brookside Insurance
For Maple Insurance Group customers click below:
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Have a question? We are here to help.

Please visit our contact page and we will get back to you as quickly as possible.

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© 2022 Union Bay Risk Advisors LLC. All right reserved. Insurance coverage cannot be bound or changed via submission of any online form/application provided on this site. No binder, insurance policy, change, addition, and/or deletion to insurance coverage goes into effect unless and until confirmed directly by a licensed agent.

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