People are a company’s greatest assets. Within your company, there are key employees (e.g. a top sales representative, partner/shareholder or knowledgeable employee) who can make or break your business with their sudden departure. When they pass away prematurely, your business may suffer substantial losses. The adverse impact can range from loss of business experience, disruptions in management, sales or production, credit issues to replacement costs. Getting a key person insurance can protect your business against these risks.
