Benefits Lesson

Key Person Insurance

Key?person insurance is a life insurance policy that a company buys on the life of a top executive or another critical individual. This type of insurance is needed if that person's death would be devastating to the future of the company. These policies are often times placed on the owners of the business.

Lesson Script

What This Video Covers

Key?person insurance is a life insurance policy that a company buys on the life of a top executive or another critical individual. This type of insurance is needed if that person's death would be devastating to the future of the company. These policies are often times placed on the owners of the business.
Insurance Terms to Know

Excluded Driver

An excluded driver is specifically removed from coverage under an auto policy; claims may be denied if that person operates the vehicle.