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Posts from the ‘Key Person Insurance’ Category


What is Key Person Insurance?

Most business owners understand that assets vital to the success of the enterprise should be insured.  Premises are routinely covered for fire and/or theft; vehicles used to make deliveries, insured; machinery needed for manufacturing, also insured. Given that these tangible assets are instrumental in the success of the business, it makes good business sense that the business is protected in the event of a loss.   But what about key employees? Many business owners overlook the impact on their business should a key employee die unexpectedly.

If you own or manage a company whose continued success is dependent on key people (it might even be you), it would be prudent to insure all key personnel whose death or incapacity would negatively affect profitability.  Key persons are those who contribute to the continuing success and profitability of the enterprise.

What happens when an owner or key person dies or becomes disabled? Read more »


What Is Key Man Insurance?

What happens when  a key employee, like a manager, top salesperson or partner suddenly dies? The business could be in serious jeopardy, unless it implements a sound financial plan. Key man insurance is an integral part of planning for every business, no matter how big or how small. If planned appropriately, it can protect the business against financial hardship if a key employee dies. Often the survival of a business after such a loss is dependent upon this insurance.


At Geraci Financial Group, we will help find an approach to Key man Insurance that works best for your business. Determining the type of key person insurance and the amount needed depends upon the business and the employee insured. Read more »