Dady Insurance Blog

Do you run a small business in Texas with a limited number of employees? Maybe your operation is reliant on one or two key employees or a business partner as is often the case with smaller businesses. Should this be so, you may wish to consider taking out key employee insurance as part of your general Georgetown insurance coverage.

Key person insurance is a policy which can be purchased by a business owner to cover the company against the risk of the key person's death or disability. In the case of a small firm the key person may indeed be the owner or a worker who performs a crucial task within the company.

Do you need to take out key employee insurance?

This depends very much on your firm's circumstances. When the loss of a key employee could cripple the business to such an extent that it may threaten its viability, then you may consider it wise to take out such coverage. Replacing and training a replacement may take a number of months and you may need the payout to ensure operations continue.

Taking out key employee insurance in addition to your regular Georgetown insurance business coverage may well make sense for your company. To discuss this, or ask any other insurance queries, please contact one of our agents to arrange a consultation.

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