KEY PERSON INSURANCE
Key person insurance covers your business in the event that a crucial person in your company is unable to work due to disability or death. If you, the owner, or another key employee is injured and out of commission, key person insurance pays a benefit to the business, which can be used to replace revenue.
This type of coverage is especially important in fields where individual salespeople or highly-skilled workers are critical to a business’s bottom line. As a business owner, you should also consider disability overhead expense insurance to cover expenses like rent, utilities, or equipment maintenance in the event a disability were to sideline you.