Key Man Insurance
HCP National can provide you with Key Man Life and Disability Insurance
Key Man Life Insurance Policy
If the leaders of your company die, the impact to your company’s finances can be significant. If that Key person’s efforts are responsible for producing a significant portion of the company’s revenues, how do you replace those revenues fast so you have time to restructure the company? The solution is a Key Man Life Insurance Policy.
The corporation purchases a Key Man Life Insurance policy or Key Person Life Insurance and it pays the premiums of the Key Man Life Insurance Policy. The corporation is also the beneficiary, or the receiver of benefits paid by the Key Man Life Insurance.
At HCP National we can structure all kinds of Key Man Life Policies from Term Key Man Life Insurance to Permanent Key Man Life. As a broker we can shop the major Key Man Life Insurance Companies to find the best option available in the Key Man Life Insurance market. We can provide Key Man Life Insurance with limits as high as $65,000,000 to as low as $200,000. Coverage can be a flat amount to a multiple of Key Man’s or Woman’s annual salary.
Key Man Disability Insurance
As the death of a company leader can impact the corporation’s bottom line, so can a disability. Both have the same result; the Key Man cannot perform his/her duties for the corporation due to a disability. Key Man Disability Insurance coverage is available.
Key Man Disability Insurance can provide a lump sum payment, or a monthly check, after the waiting period or disability period has been met. Many corporations buy only Key Man Life Insurance, but the odds of death, depending on the Key Man’s age, are in most cases less likely than disability. The odds of disability for a male age 45 is as high as 1 in 3.
The payment of the Key Man Disability Policy will be made by the corporation and the benefit will be paid to the corporation. We can obtain significant limits for a Key Man Disability Policy.