Key Person Insurance is an insurance policy taken out by a business on the life, or capacity, of an essential employee (including a co-founder). The aim is to compensate the business for potential losses that could occur if this employee were to die or become incapacitated and facilitate business continuity. Usually, investors will require that Key Person Insurance be taken out prior to (or immediately after) a financing in order to protect their interests.
Latest posts by FreelancingGig (see all)
- Freelancers, Crypto Payments, and Taxes: An Ultimate Guide - March 17, 2023
- Freelance Environmental Consultant for Corporations: 4 FAQs About the Role Answered - February 11, 2023
- The Benefits of Taking Your Business Online With Print on Demand - January 20, 2023