Key Employee

Key Employee Insurance, in it’s simplest form, is a type of Life Insurance. These policies differ from other life insurance policies in that the business is both the owner and the beneficiary of the policy. The employee essentially has no rights or active participation in the policy. However, the business is legally required to notify the insured employee of its intent to purchase coverage on the employee.

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Insured

As the Key Employee, the business owner is the insured or person upon whose death the policy would pay the death benefit. Therefore, premiums are directly tied to the health and lifestyle of the insured.

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