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Executives Keyman Disability Insurance


How much are key executives worth to a business?

If someone buys equipment, they insure it.  Yet the success of a business depends more on its people than on its equipment. If a key employee is disabled, a business can suffer extreme financial loss.

Businesses can guard against the loss of an executive due to a disability by purchasing keyman disability insurance, that is owned by the business, rather than the employee.

Key employee disability insurance protects a business from the disability of a key member. In any business there are a handful of owner/partners without whom the business would fail. In the case of many businesses, the entire business consists of one person. Key employee disability insurance protects the business, and the stakeholders of the business, from the loss of these key players.

Key person disability insurance is simply a disability insurance policy where the beneficiary of the policy is the business, not the employee. It is a business expense for the business and fully tax deductible.

How Much Keyman Disability Insurance Does The business Need?

As with any insurance decision, the amount of keyman disability insurance the business needs will vary based on the specific situation of the business.

 The Business should ask the following questions:

  • If it  had to hire someone to perform the services of the partner, what would you have to pay?
  • How long would it reasonably take for the replacement employee to get fully up to speed?
  • What would the "stock effect cost"  to the business?
  • How much can the business afford to spend on key man life insurance annually?

Related Topics
Disability Insurance For The Professional

●  Professionals   

                Business Disability Products
  Professional Business Disability Overhead Expense
  Disability Buy Out  
                  Disability Buy Out Insurance
                  Keyman Disability insurance  
  Other Professionals
  Employer Groups
Not all insurance products from all insurance companies are available in all states.

Note:  We do not provide legal or tax advice. The general information presented on various tax aspects contained in this site are not intended to be relied upon as tax advice. Individuals should seek the advice of a qualified tax professional regarding the taxation of these benefits as they apply to your particular situation.  These benefits are offered in all states except: AK, HI, & WY. License #'s: CA: OC38446 MT: 29724 F00-0283-LC 

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