Key Person Insurance

Our Key Person Insurance Program

  • Domestic Shortfalls

    • Benefit Limits
    • Older Ages
  • Target Markets

    • Corporate Business
    • Venture Capitalists
    • Technology Companies
    • Law Firms
    • Sales
  • Key Features

    • Policy Terms up to 5 years
    • Available Benefits Structures
      • Monthly Benefit
      • Lump Sum Benefit
      • Combination Monthly + Lump Sums
    • Own Occupation Definition of Disability
      • Insured is unable to perform the substantial & material duties of their occupation*
    • Elimination Periods: 90 to 365 days or longer
    • Limits up to 10x Income
    • Monthly Benefit Periods: 12, 24 & 36 months
    • Flexible Premium Payment Options
    • Creative Underwriting Techniques
  • Monthly Benefit Overview

    Once the Elimination Period has been satisfied, the monthly benefits will begin and are paid out until the Benefit Period has been exhausted or Total Disability ends, whichever the sooner. *

    Suits short-term needs and concerns surrounding immediate health of the business.

  • Lump Sum Benefit Overview

    Considered a career ending benefit, the Lump Sum is triggered by the Permanent Total Disability of the Insured, meaning they are not expected to recover or return to work. The benefit is paid out either following the exhaustion of the monthly benefit or once Elimination Period has been satisfied. *

    Most common benefit structure used in Key Person policies. Replaces complete loss of key person by providing large blanket benefit amount and flexibility of multi-use utility.

*Summary language reflecting product definitions, not exact replica of Policy Wording

Product Highlights

  • Payment of overtime expenses associated with key person loss, succession planning and recruiting

  • Monthly Benefits payable up to 60 months and up to 65% of earnings*

  • 5-year Policy Term

  • Monthly and/or Lump Sum Benefits up to market maximum limits

  • Elimination Periods of 30, 60, 90, 120, 180 or 365 days

  • Own Occupation definition

*Less existing in-force coverage. Benefits tailored to match needs. Additional coverage available.

For more info about our Key Person Insurance program, download our brochure

Download Brochure