Thomas O'Neill, , discusses key man insurance for businesses.
Loading the player...Key Man Insurance Thomas O'Neill, , discusses key man insurance for businesses.
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Featuring Thomas O'Neill, FCA, Insurance
Key Man Insurance
Duration: 38 seconds
Key man coverage is usually a life insurance policy that would provide a lump-sum of money in the event that one of key individuals inside the company should pass away.
Usually in small companies, particularly there’s one key person that’s responsible for bringing in most of the revenue in that company. And certainly the company would be in adverse conditions should that person pass away.
Oftentimes companies will put a key-man life insurance policy on that individual in the event that something should happen to them. For more information on key-man coverage, I’d suggest you see a local representative in your area.
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