Who Is Covered By Key Man Insurance?

Key man insurance covers those employees who are key to your business. You can take out this type of insurance policy for any employee who plays an essential part in the operations your business. Top level employees should always be covered. As a rule, they are the most important key people involved with the operations of your business. This would include company owners, presidents and officers of a corporation, partners in business and major shareholders who are involved in day to day decisions. Your management team should be covered as well. These are the people who look after the employees and business practices. This list includes regional managers, general managers, office managers and any other manager who is key to making sure your business runs smoothly and profitably. It may not seem obvious, but you should also cover regular lower level employees if their work generates a significant amount of income for the company. These would be people such as leading sales people, professionals who work in the field, specialists, and anyone else who makes significant contributions to the profitability of the company. If your company cannot make its current level of profit if an employee becomes disabled or dies, then that employee should be included in your key man insurance policy.