What would happen if your key employee stopped coming to work?
KEY PERSON DISABILITY INSURANCE (aka Key Person DI, aka Key Man) is designed to protect your business from a loss if your top performer(s) are suddenly disabled due to illness or injury.
Key Person coverage pays the business a pre-designated benefit amount (up to 3x employee earnings) in the wake of a disability. The business can use this indemnity benefit in any manner they choose. Most decision makers tend to use a portion of the benefit to recruit and hire a new replacement or for various overhead expenses.
Key Person coverage helps business owners insure their employees. It pairs nicely with an Individual DI policy or Executive GSI since we are insuring the most valued personnel.