Who Should Own Key Man Life Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Key man life insurance is for an employee in a business or organization whose loss would put a financial strain on that business or group. Some types of persons who should own key person insurance are top sales people, people who have much knowledge based on years of experience, managers of lots of employees, and/or key decision makers. All these positions take time to develop and to find the right person to replace that key employee. The key man insurance provides money to do the recruiting and operation while the key person is being replaced and trained.
    Answered on November 9, 2013
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