Your business is made up of several employees, and a select few (including you) may be most vital to the businesses' success.
Life & Disability Insurance can protect the employee's lifestyle in the event something happens to them, but how is the business affected?
In the event of an illness or premature death, your business may struggle with maintaining incoming revenue, picking up slack of the additional workload, and sourcing & hiring a replacement for that position. This is where key person insurance can help by providing capital for all of these events to be addressed.
In many cases, the key person within a company is the owner themselves. Key person insurance can help keep the business running, or buy the owner/beneficiaries time to sell the business at fair market value.
So what are the odds of needing key person disability or life insurance?
For employees between 20 and 65 years old:
Odds of premature death - 5%
Odds of disability - 25%
Email robert@thepgtsolution.com for more information about key person insurance protection for your business.
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