Key Person (Key Men) Insurance
Employees are Valuable Assets Too.Many companies have important key figures whose expertise and talents are crucial to maintaining profitable and productive business operations. From the savvy and influential executive to the creative thinker behind the company’s greatest ideas, Overbay Insurance Services knows that some talent is simply too difficult to replace.
Key Person, or Key Men, Insurance provides financial support for business owners in the event that death or permanent disability results in the loss of an employee who is essential to business operations. This policy helps assure that business can continue as planned while you look for a suitable replacement. In addition, it affirms the importance of the talent that the Key Person brings to your business.
Several business benefits are built into your Overbay Insurance Services Key Person Insurance, such as:
- Coverage that acts as a business asset for enhancing your company’s creditworthiness
- Cash value of the policy that may be available to your business as a loan if needed
- A policy that can be converted to a retirement bonus for the key employee