It is a life policy purchased by a business to compensate them for financial losses that would arise from the death of the member of the business specified on the policy. It can provide money to finance the recruitment and training of a replacement or to finance the buyout agreement.
Key Man life insurance is another name for business insurance. It protects the business from certain losses. A business may also elect to take this insurance out on an employee whose knowledge, works, or overall contribution is considered quite valuable and would be considered a huge loss if the employee elected to leave at some point. This would allow the company to train a successor in this case.
An insurance agent. Normally an agent who specializes in business life and disability insurance would handle such matters as they are generally more complicated than normal everyday life, health and disability matters. Some policies have tax advantages and need to be set up in particular ways so you need someone who has had traning in these matters.
form_title=Purchase Disability Insurance form_header=If you're suffering from a disability, insurance can help pay for bills and other needs. Have you received disability insurance in the past?= () Yes () No Does your employer offer disability insurance?= () Yes () No How quickly, and for how long, do you need disability insurance?=_
form_title=Disability Insurance form_header=Disability insurance will protect your income when you are unable to. Get a policy that will provide security for financial future. Do you currently have any disabilities?= () Yes () No Do you currently have any type of disability insurance?= () Yes () No Who would you like to add as a beneficiary?=_
This question does not make sense. Are you asking about "key man insurance?"
One can get a comparison of disability insurance rates on websites like Insurance Data, Disability can Happen, RBC Insurance, Termlife Insurance or SB Information.
You can live anywhere in the US and do well if you have a disability. Depending on the disability, you can get disability insurance. Disability insurance is figured by your work history and if you get approved.
Yes, if you are unable to work. ANSWER: Actually, if you are currently UNABLE to work, you can NOT apply for disability INSURANCE. You have to be actively at work to get insurance for disability.
Disability insurance needs to have tighter restrictions
In California a disability will not effect your insurance quote but if you are in southern state like Florida a disability will effect you insurance quote.
MetLife Disability Income is the best company that offers disability insurance. You can read more about Flexible Disability Income Insurance and Policies at metlife.com
If you are currently unable to work or disabled, you may not be able to qualify for a regular disability insurance policy. There are few insurance companies that can offer substandard disability insurance, or graded benefit disability insurance. You should discuss this with an experienced agent, before you get the surgery.
The purpose of Key Man Life Insurance is to benefit the company and provide funds for them to recruit hire and train another key man should the insured die. It is the company that would suffer the loss and therefor is the beneficiary.