Covering key employees is key

Covering key employees is key with key person insurance

Your employees help make your business a success. Some employees may be especially key to that success with unique skills, expertise, talent and decision-making power.

Key person life insurance is a powerful way to protect your business from the potential loss of those key employees.


How key person life insurance works

With key person insurance, your business is typically the owner of the policy and pays premiums. You have access to cash values (if you use permanent life insurance) through loans as business needs arise. An income tax-free life insurance death benefit minus any loan amounts (if the employee dies), is paid to your business to help you get through a difficult time after the loss of a key employee.

Work with your financial professional to explore key person insurance as a protection strategy for your business.

Key person life insurance can help you:

Protect with a death benefit

A life insurance death benefit can help your business transition after the death of a key employee.

Access cash values

Use permanent life insurance to build cash value that you can access through policy loans when your business needs it.

Add flexibility with riders

Certain available policy riders can add additional protection from events such as disability or employee retirement.

A bit of guidance can help

Life insurance can help you protect your business in many ways, including the loss of a key employee.

Our financial professionals can partner with you to explore Key Person life insurance including:

  • The best options to protect your business from life’s unknowns
  • Which type of life insurance policy meets your needs today and tomorrow
  • How much coverage you may need

Want to learn more about life insurance?

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Life insurance is issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Guarantees are based on the claims-paying ability of the issuer. Loans and withdrawals may reduce the death benefit, cash surrender value and any living benefit amount.

Products, product features, and rider availability vary by state. Issuer not licensed to conduct business in NY.