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34 reactions · 70 shares | Small business owners—this one's for you! Want to learn more about keyperson life insurance and why it's crucial for your business? | Life Happens | Facebook
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What is key person or key man insurance and why is it important? Key person insurance, also known as key man insurance, is a life or disability insurance policy owned by a business on a critical employee such as a CFO, COO, or other key leader. It helps compensate the company for financial loss and transition costs if that individual passes away or becomes disabled. While key person insurance premiums are generally not tax-deductible, the coverage plays an important role in maintaining business
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