While difficult to think about, the untimely death of a founder, a partner, a top manager, or even a well-connected sales representative can have a devastating impact on your business continuity.
With key person insurance, you protect your company’s ability to continue running after the loss of a key individual. Your company takes out a life insurance policy on its most valuable people, and is also the beneficiary to the plan. Insurance payments then allow you to cover the costs of recruiting a replacement, as well as other losses the business suffers.
Consult with an independent Higgins Insurance agent to measure your risks and find out what kind of coverage will best suit your needs.