Have an employee that you consider to be extremely valuable? Perhaps you should purchase key man insurance to protect them. Key man insurance is a life insurance policy typically purchased by a company to protect a valuable employee. If this “key man” dies, the company will receive a death benefit. Because the life insurance policy is purchased by the company, they are the owners of the policy, pay the premiums, and act as the beneficiary.
Want to learn more about key man insurance? Contact Paul Murphy Insurance today by calling 800.260.2029.