Nearly every business has key employees who are critical to the overall success and profitability of the business. Key employee life insurance is insurance on the life of a key employee, purchased to reimburse an employer for the economic loss caused by the death of the employee. As such, key employee life insurance is not a specific type of life insurance policy; rather, it is an effective way for a business entity to use life insurance.

Key employee life insurance is one of the simplest of the business life insurance programs to implement.

The business entity applies for, owns and is the beneficiary of insurance on the key employee's life. If the employee dies, policy proceeds are paid to the employer to use as is necessary.

Benefit Design will discuss with you the implications of the loss of a key employee to your business.

For a no-obligation quote, use our online Quote Forms under Resources or call 480.998.0096.