What Is Key Person Insurance and Does Your Business Need It?
Every business has people it can’t afford to lose—whether it’s the founder, a top producer, or a partner with vital financial or operational knowledge. If that person were to pass away unexpectedly, the financial impact could be devastating. That’s where key person life insurance comes in.
Key person insurance is a policy taken out by a business on a critical employee or executive. The company owns the policy, pays the premiums, and is the beneficiary. If the insured passes away, the death benefit helps cover the cost of lost revenue, business interruption, recruiting and training a replacement, or even buying out the deceased partner’s shares.
This coverage is especially important for small businesses, family-run firms, or startups where knowledge and relationships are concentrated in just a few people. Without a plan in place, a tragic event could cause clients to leave, revenue to dry up, or investors to pull back.
At Diversified Insurance Brokers, we help business owners design custom key person life insurance strategies—whether to protect operations, secure funding, or meet lender requirements. We work with over 75 top-rated carriers to match your coverage needs with your company’s financial goals.
👉 Visit our About Us page here to learn how our team supports business owners nationwide.
Contact Us Today:
Want to protect your company from the unexpected loss of a key contributor?
📞 Call us at 770-662-8510
📅 Schedule a free consultation with Jason
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