Key Person Coverage

Key Person Coverage for Businesses from MCB

Key employees play an important role in the success of your business, so taking care of them should be a natural next step. Whether you own a large or small business, key people help your day-to-day operations run smoothly. Your key people are integral to your company, and without them, your business may not function like it should. While it’s unpleasant to consider what might happen to your company if a key person dies or becomes unable to complete the functions of their job, it’s something you must consider for the sake of your business.

At MCB Business Consultants, we’ll walk with you through these types of scenarios, and help you create a strategy that protects both your key people and your business. We’ll help you decide whether or not investing in key person (or key man) insurance is the right choice for your business, and, if it is, we’ll help you choose the right key person coverage. For some businesses, like the small business that revolves around the owner or founder for daily operation, key person coverage is essential.

MCB helps businesses get the key person coverage they need.

When you work with MCB, we’ll sit down with you and talk you through your insurance and financial needs. If it’s decided that key person coverage is vital for your business, we’ll explain the different products available and help you choose the right one for your needs. Some examples of key man insurance include:

  • Standard life insurance: This covers the person if they die during a time frame specified in their policy.
  • Disability insurance: This provides important benefits that protect your company financially if a key employee becomes unable to work due to disability.
  • Trauma insurance: This covers any injuries or disabilities that may happen in the event of an unexpected accident.
  • No-qualified executive benefit plan: This can help make your benefit package competitive enough to reward, retain and recruit.

MCB can help you with a key person coverage solution that perfectly fits your business needs. To learn more about the services we provide, contact us online using our convenient form, or feel free to call our Buffalo, Syracuse or Utica office. We will be more than happy to schedule a time to meet with you and help you with your partnership planning needs. We look forward to serving you and your business.