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Key Person Disability
Key Person insurance is often taken out for top executives,
project supervisors or marketing individuals. Tech companies
often take out Key Person insurance on one or more of their
engineers or designers. Key-Person Disability Income
Insurance can be extremely important. It helps the Business
Concern continue the salary of a Disabled Executive without
having to pay Two Salaries to get One Job done.
What is does is provide Income when Disability; due to Sickness
or Accident destroys the Executive's ability to earn his regular
income. As with Key Person Life Insurance, an insurance agent
appraises the person you want to insure and sets a premium on
that person. The premium is based on the current health of the
employee, his (or her) health history, age, and salary. Note:
that not everyone can be covered with Key Person
Disability Insurance.
