Most businesses insure their buildings, vehicles, and equipment — but have no plan for the one person the business depends on most. Find out where you're exposed in 90 seconds.
Most businesses insure their buildings, vehicles, and equipment — but have no plan for the one person the business depends on most. Ask a question and quickly understand where your current plan may fall short.
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Common questions
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When a key person is suddenly gone, the business may face:
The issue is not just grief. It is liquidity.
The business may need cash quickly to keep operating, replace leadership, retain staff, reassure customers, and protect the value of what has been built.
If you're the sole owner, the question is simple: If something happened to you, who keeps the business running — and with what money?
Your family may inherit the business, but they may not have the time, experience, or cash to operate it. Key person insurance can help provide funds to stabilize the business, protect employees, manage debt, and avoid a rushed sale.
If you have partners, the risk shifts: You may have a buy-sell agreement — but is it funded?
If one partner dies, the surviving partner may need immediate cash to buy out the family. Without funding, this can lead to:
Key person insurance can help create the liquidity needed to maintain control and treat the family fairly.
Key person insurance provides liquidity when your business needs it most.
The business owns a policy on a key owner, partner, or employee. If that person passes away, the business receives funds that can help:
The right structure depends on your revenue, debt, ownership structure, and long-term goals. Many modern strategies include flexible term options with conversion features and permanent solutions designed for long-term financial flexibility.
The first step is not buying insurance.
The first step is understanding your risk.