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Keyman Life Insurance
What is Key Man Life Insurance?
It is a kind of life insurance that covers the important persons in a business. The persons that are critical to the functioning of the business - partners, CEOs, scientists, strategic thinkers, irreplaceable employees, etc.
Life Insurance Rates Are At Historic Lows:
Small businesses, especially, should not disregard this important aspect to keep the business running smoothly. For example, if you and your partner are fundamental to the business, and the business would suffer financially if one of you died, it is a good idea to obtain a key man life insurance policy.
For example, two brothers own a family business, and one dies. The business partnership agreement states that in case of the death of one partner, the other has to buy the share of the business of the deceased partner. In this case, a life insurance policy taken out by the company on both owners will pay the family of the deceased for their share of the business, and the living partner does not have to come up with the money suddently.
There are many sites online that you can request a quote, but you can also contact your present insurance agent. But, you'll probably get better rates online though, because quotes from many insurers can be compared instantly.
Don't leave this important task for tomorrow! Get life insurance coverage today.
Life insurance has never been this affordable, get your rates today!