When a key employee dies or becomes disabled, a company loses sales, revenue, and customer relationships overnight. Over 2 million workers aged 25-55 die annually and 2 million more become disabled. Key-person insurance protects against these financial shocks.
Chapters
More than 2 million employees between the ages of 25 and 55 die every year, and more than 2 million others are permanently disabled. But when a business loses one of its key people, the people most responsible for its competitive advantage, to cancer, a heart attack, or a traffic accident, the effects on the business can be costly as well as disruptive. Because your best people have unique talents, special proficiencies, technical knowledge, influential connections, and years of experience, which is what makes them so valuable to your business. And if you abruptly lose your best salesperson, your best designer, or your best engineer, you also lose sales, lose revenue, and lose customers to your competitors. But these people cannot simply be replaced like other employees. And their loss can affect your company's profitability, its customer relationships, its market position, and its credit line.