Key Person
At some point during your lifetime, either by choice or by necessity, you will wish to exit the business you're in. Whether it is an unexpected disability, retirement, or even death, planning for this event is important. If the success of your business is dependent on a few key employees, consider a key person plan. You can use life insurance to ensure financial resources are available to recruit and train a replacement, or cover interim business losses, should one of your key people die prematurely.
