Key Man Insurance
Each and every business in the Denver area whose success is reliant on the work of a single employee, or a small group people should consider obtaining key man insurance. Every business owner knows who their key employees are. Key man insurance is sometimes called key person insurance, key employee insurance, or key executive insurance. A key man is someone who has important skills essential to the success of a business, or who has a large client base loyal to that individual who might abandon the company if they were no longer there. Key man insurance is tailored to your Denver area business to provide needed cash flow when the key person in the policy cannot work or contribute to the operation of the business.
Benefits of Key Man Life Insurance
When a keyman of the company dies, the business could be thrown into turmoil due to loss of revenue, loss of client relationships, loss of leadership or loss of company morale. Key man life insurance acts as financial brace against these potential difficulties. Key man insurance generally costs less than a traditional life insurance policy for Colorado business owners. Generally speaking, if a company in Colorado loses its key man, the insurance policy proceeds work to stabilize finances and secure a smooth transition during the period of time of potential instability. Denver based businesses mitigate these potential problems before they happen with a key man life insurance policy.
Key Man Insurance