What is Key Man or Key Person Insurance?

Aegis Capital Corp pic

Aegis Capital Corp
Image: aegiscapcorp.com

 

At Aegis Capital Corp, seasoned teams of wealth management professionals help clients make the most of their assets. In addition to a multitude of services for personal investors, Aegis Capital Corp offers valuable tools and protections for businesses of any size. From risk management to insurance, Aegis Capital helps companies plan for success.

In risk management, it is important to consider the financial implications of many unfortunate circumstances, no matter how unlikely. Key man, or key person, insurance protects businesses from failure in the event that a key employee or business owner passes away unexpectedly.

Key man insurance is essentially a life insurance policy that pays out to a business. Companies can choose to insure individuals whose contributions are crucial to the success of the company. Small businesses often insure the founder or a couple of partners. In the event of a tragedy, the business itself would have funds to stay afloat while searching for a replacement.

For more details on key man insurance, visit Aegis Capital at www.aegiscapcorp.com.

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