Key Person Insurance Coverage

What Is Key Person Insurance?

Key person insurance—sometimes called key employee insurance—is a life insurance policy that a business takes out on a vital employee or executive. The company pays the premiums and is named the beneficiary. In the event of that individual’s unexpected death, the business receives the insurance payout, helping to offset financial losses and maintain stability during a difficult transition.

Why Your Business Needs Key Person Coverage

For many companies, certain individuals play an essential role in operations, client relationships, or overall business strategy. Losing a key employee can disrupt productivity, damage your reputation, and even threaten the future of the business. Key person insurance provides crucial financial support to help cover hiring and training replacements, offset lost revenue, or pay off debts and obligations. It’s a smart risk management strategy—especially for small and mid-sized businesses that rely heavily on a few individuals.

Protect Your Business Continuity

At Kimberley Vassal Coe & Weimer Insurance Services (KVCW), we work with you to determine the appropriate level of coverage and select a key person policy that fits your company’s unique structure. Whether you’re protecting a founder, executive, top salesperson, or technical expert, we can help ensure your business has the financial protection it needs to survive and recover. With KVCW, securing your company’s future starts with protecting the people who make it thrive.