key person life insurance


If you have a family, you know that a personal life insurance policy can help protect your loved ones financially if you pass away. Key person life Insurance also known as business life insurance, will provide death benefits to a business if its owner or another significant employee passes away. This will help assure continuity of the business for employees, customers and creditors.

Why Should I Purchase a Key Person Life Insurance Policy?

  • If the business’ reputation and financial viability are critically linked to the key employee’s name, reputation or unique skills, and the key employee’s death could end the business.
  • If the death of a key employee (like a top salesperson) could quickly threaten the company financially.
  • If a financial institution or other creditor needs collateral for a business loan and requires the option of putting a lien on a key person policy. (This is sometimes called collateral assignment.)
  • If the business is a partnership and each partner wants to be able to buy out the other’s shares in case of an untimely death.

Short Term Coverage

We offer a variety of products to accommodate your needs. We offer life insurance terms from 5, 10, 20- and 30-year terms.

Child Rider Endorsement

Child riders can ensure that you have coverage for the entire family. We ensure our clients understand the importance of all options available to them and their family.

Finding the Right policy

Our life insurance agents explain all the differences and options available through the many types of policies.

Terminal Illness Rider

In a sudden event of illness, this rider can help pay expenses. This rider assists the policy holder pay expenses in the event of a terminal illness and 12 months or less to live.

Features of Key Person Life Insurance
  • The death benefit can be used to recruit and develop a replacement for the previous key employee
  • Coverage is a business asset that enhances your company’s creditworthiness for commercial borrowing
  • The policy’s cash value may be available to your business through a withdrawal or loan if needed
  • The business pays the premiums, and they are non-deductible
For more information about key person life insurance, call our office at (702) 330-3337, or send us an email at

Frequently Asked Questions

Key person life insurance policies that we offer at Nevada Insurance Solutions include 5, 10, 20 and 30 year terms.

Key person life insurance was created to provide continuity of your business if a significant leader were to pass away. How much is your business worth? How significant is the role of this leader? These are a few questions to consider when purchasing a key life insurance policy.

A life insurance beneficiary is the person or entity you name in your policy to receive the death benefit.

A life insurance rider is an additional feature added to a life insurance policy; they are not typically found on a basic life insurance policy. Life insurance riders may provide benefits to the owner or beneficiaries of the life insurance contract. For example, a “Spousal” rider will provide benefits for a spousal death.