directors life insurance

Kelliemeredith24 Jul, 2024Business

In a key man insurance policy, the business owner buys a life insurance policy and their business is listed as the beneficiary. If the key person dies or becomes critically ill, the business can file a claim and get paid according to the terms of the policy. The money can help keep the business running by paying for the costs of finding and training a replacement or covering lost income while the business adjusts.