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Key Person Insurance: Definition, Cost, Types, and How It Works

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Key Person Insurance: Definition, Cost, Types, and How It Works

Key person insurance is a life insurance policy that a company purchases on the life of an owner, a top executive, or another individual considered critical to the business. It offers a financial cushion if the sudden loss of a certain individual would profoundly negatively affect the company. The company is the beneficiary of the policy and ...

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