Skip to main content

Key person life insurance helps protect the continuity of your business.

Key Person Life Insurance - Colleagues Laughing and Working Together in the Conference Room of a Modern Office with Lots of Light and Large Pane Glass Windows in the City

Home » Business Insurance » Key Person Life Insurance

Plan ahead for the survival of your business with key person life insurance.

Insurance coverage that businesses should not overlook.

You might describe the skills and knowledge of the senior staff as priceless, but if anything happened to them, the financial losses for your business could be very real. That’s why you need to safeguard the future of your business with insurance.

Ensure the continuation of your business.

Where ordinary life insurance compensates a person’s financial dependents for loss of income, key person life insurance is all about the costs a business faces when the person passes away. It’s best suited for staff who are so vital to the company’s operations that it could struggle to survive without them.

What does key person life insurance have to offer?

The payout from this type of policy will ideally help the company stay afloat while the other members of your staff come to grips with running the business, or until your business hires a suitable replacement and brings them up to speed.

  How are the costs of key person life insurance determined?

The cost of your policy may vary depending on a number of factors, including the role of the person, the type and size of the business, their age, overall health, among others.

Additional payout options for every situation.

In the worst-case scenario, the payout could instead be used to wind down operations in a controlled manner rather than face the chaos and damage of a forced liquidation. In addition to paying out when a key staff member has passed away, some key person policies will also payout if the person is diagnosed with a terminal illness or suffers a critical illness that means they can no longer work.

Key person life insurance is an option to help safeguard the longevity of your business. Contact us to learn more.

Find Your Coverage

We’re here to help you explore your coverage options.

Request Quote

Contact R. K. Tongue Co., Inc.

Our Nottingham, MD Office

4940 Campbell Boulevard
Suite 200
Nottingham, MD 21236

Let’s Get Started

  1. Step 1Fill out the form.
  2. Step 2Review your options with us.
  3. Step 3Get the coverage you need.

Key Person Life Insurance Quote Request

"*" indicates required fields

Name
Please do not include sensitive, private information in this area.
This field is for validation purposes and should be left unchanged.

Don’t like forms? Contact us at 410-752-4008 or Email Us.