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  • Home
  • Quotes
    • Instant Term Life Quote
    • Term Life Insurance Quote Request
    • Final Expense Insurance Quote Request
    • Disability Insurance Quote Request
    • Annuity Quote Request
    • Income Replacement Calculator
    • Agent Quote Request
  • Insurance
    • Life Insurance
    • Disability Insurance
    • Annuities
    • Final Expense Insurance
  • Service
    • Policy Changes
    • Update Contact Info
    • Policy Review
    • Free Consultation
  • About
    • Insurance Carriers
    • Client Testimonials
    • Refer a Friend
    • Newsletter Signup
  • FAQ
    • What is Life Insurance Laddering?
    • What Is Term Life Insurance?
    • What Is Permanent Life Insurance?
    • What Is Key Person Life Insurance?
    • How Do I Apply For Life Insurance?
  • Contact Us
  • How To Save Money On Your Life Insurance

What Is Key Person Life Insurance?​

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What Is Key Person Life Insurance?

It is often said the most valuable assets of any successful business are its employees. The death of a key person may be a devastating blow to any business, but for a small to medium sized business this loss can have a substantial impact on the business financially.
Key Person Life insurance (Keyman Life Insurance) helps reimburse a business for economic loss when a key employee or owner dies. The insurance covers the life of an employee who is critical to the success and profitability of the business. Key employee life insurance is not a specific type of policy, but is a way to use life insurance to offset a business risk. With business life insurance, the company owns the life insurance policy, pays the premiums and is the beneficiary of the policy. At the death of the insured key employee, the business receives the life insurance proceeds free from federal income taxes. (Assuming the policy complies with the Pension Protection Act of 2006).

Reasons for Business Life Insurance
  • Protect against loss of sales or revenues attributed to the key employee.
  • Replacement expenses related to recruiting, hiring, training and then waiting for the new employee to produce.
  • Cover Debt and assure creditors.​
(469) 385-7733
Dallas, TX 75234
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Licensed in  Arkansas, Arizona, California, Colorado, Florida, Kansas, Louisiana,
Massachusetts, Michigan, Missouri, New Mexico, Oklahoma, Tennessee, Texas.

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The Life Agency
3010 LBJ FWY, FL 1200
Dallas, TX 75234
469-385-7733
800-276-0508
Click Here to Email Us
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