What Is Key Person Insurance?Understanding Key Person InsuranceThe Process of Key Person InsuranceCategories of Loss Covered by Key Person InsuranceCost of Key Person InsuranceKey person insurance offers a financial cushion if the sudden loss of a certain individual would p…In a small business, the key person is usually the owner, the founders, or perhaps a key employee or two. The main qualifying point is whether the person's absence would cause major financial harm to the company. If this is the case, key person insurance is definitely worth considering.See more on investopedia.com
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Published: Nov 23, 2003
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Insurance? Also called corporate-owned life
insurance (COLI), key man life
insurance is purchased by a business to …