Typically key person life insurance is typically taken for the top employees of the firm. This type of insurance offers a death benefit if the key person passes away which helps assure the continuation of the business for customers, creditors and the employees.
Businesses without the right insurance in place can be badly disrupted by the unexpected passing of an owner or top company person. While an untimely death can be a sensitive and painful matter, it does not absolve a company of its many responsibilities. The New York insurance experts on our team can help secure key person life insurance for New York companies that may need support in the period after a top person’s passing. We will base recommendations on your unique corporate structure, and the significance that an owner or top executive’s death could have on different aspects of your business. You can talk to us about what you might need in the event you would require the payout of your policy, and we can help you find packages that fit your budget.