Key Person Insurance - Key Woman & Key Man Disability Insurance
Key person disability insurance is purchased for to compensate a business for the negative impact the disability of a key employee can have on the company. When an important employee is unable to do his or her job the employer can suffer.
This can impact the ability of the company to stay in business and pay other employees. For this reason, many companies will have disability insurance policies on their most essential employees. Doing so can be the difference between staying in business and continuing to grow.
Since these policies pay proceeds to the employer, a separate disability insurance policy should be purchased to compensate the employee and his or her family.
© April 23, 2011 1800InsuranceCT.com LLC.