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Build a Better Business: Key Person Replacement Coverage
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Wednesday, January 25, 2017

As a business owner, you try to account for as much as possible. You’re trying to predict the needs of your clients, keep a well-trained and satisfied staff, network, sell, and grow – just to name a few things.  Adequate insurance may not seem like it’s making you money, but when the rubber hits the road, you’ll be happy you took the time to get covered.

 

While many businesses have coverage in the event of the death of a key person, most aren’t covered if someone becomes disabled.  Key Person Replacement Coverage benefits the business in the event that a vital employee is no longer able to work due to disability.  This could be an owner, an executive, or an employee with significant business or industry knowledge that will be hard to replace. 

 

This coverage is ideal for small to medium sized businesses that would be greatly impacted by the loss of a team member.  Benefits can be used at the company’s discretion and are commonly applied towards temporary staffing, revenue replacement, and recruiting.  Benefits are also usually tax-free. 

 

For more information on Key Person Replacement Coverage and other beneficial business solutions, contact us today.





 
 
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IPRG BLOG

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Friday, November 23, 2018


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Friday, July 20, 2018
 

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