Steffen deGraaf
You need to protect the Keyman of an organization with Key Man Insurance. Protect the business continuity in case of an injury, illness or death. Keyman Insurance protects business owners, professional and self employed people.
An overview of key man insurance Key man insurance, or to be more "Politically Correct", key person insurance, ensures that your business has the means to recruit, replace and re-train pivotal staff in the event of their untimely demise, disability or illness.
If you own and operate a small business, you need to think about what would happen if you were suddenly unable to perform your responsibilities. Like a lot of small businesses, your business is probably incredibly dependent on you. Your top- to- bottom knowledge and above-average time commitment would make it very difficult to replace you.
Key Person Coverage When a business loses a key person, several things can happen. First and foremost, the business is disrupted as the owners try to assess what has happened and develop a plan of action. This disruption usually causes a drop in sales as the business focus is diffused.
Smart Answers Photograph by Getty Images Question: My company purchased key man insurance on one of our executives several years ago. He recently left the business and we are stuck with the insurance. The premiums are expensive, so we don't want to keep paying them, but we also don't want to lose all the money we put into this coverage.
My name is Steffen deGraaf and I am a lifelong resident of Burlington. I’ve never been a person who limits my experiences, or myself; instead I choose to get involved in as many different groups an...
